What does it involve?
Identifying who is going to be involved with a 'payer' decision (i.e. decisions that typically determine pricing, reimbursement, funding, budget and/or access to a treatment) as well as their levels of influence on that decision.
Why is it required?
The term 'payer' is a fluid term that refers to different stakeholders depending on:
- Population e.g. national vs local
- Funding structure e.g. tax vs insurance
- Type of decision
- Stage of product lifecycle
- Type of product
- Specialised categories e.g. orphan drug, biosimilars
How could this information be used?
Understanding who the key stakeholders are is important at the start of any market access-related project but particularly when developing value communications, economic models and digital tools. It can also help when deciding who to invite to an advisory board or market research interviews. It should be a key consideration for any brand strategy.