Budget impact model to support market growth of a maturing brand
Development of an interactive tool for payers in order to secure increased market share and improved formulary positioning
Our client wished to support the continued market development of a diabetes product which had been launched three years previously. Although the product had been accepted onto the majority of formularies across the UK, formulary recommendations and market share percentage varied considerably between regions.
The client had previously developed a budget impact model to support the launch of their product. However, the model was outdated and suffered from an overcomplicated user interface, making it unsuitable for a non‑technical payer audience.
We developed an impactful budget impact tool to illustrate the benefits of the client’s product across multiple scenarios and which was suitable for use by payers from different regions with varying levels of product uptake.
The scenarios included demonstration of savings achieved to date via uptake of the product, projection of future savings if market share of the product was increased, and savings that would have been achieved if all new patients had been prescribed the product.
The tool allowed users to easily create a PDF report for any of the selected scenarios, based on user inputs, for payers to keep. The model was also designed to allow for simple updates using the latest sales data.
The tool was able to clearly demonstrate the economic benefit of using the client’s product amongst NHS customers in a wide variety of environments. For payers in a CCG with a high market share of the product, the tool demonstrated the savings achieved to date and projected future savings from further increasing market share.
Conversely, for customers in a low-usage area, the tool demonstrated the savings that could have been achieved had new patients been introduced to the product, or the potential cost savings from adopting a market share pattern akin to a nearby CCG.
Value to the client
The budget impact tool enabled clear communication of the value of the client’s product in a flexible manner appropriate to different scenarios and stakeholder needs.
This tool represented a timely update to the client’s marketing strategy by managing the transition from promoting a new product to managing a more mature brand.