Market access update
PRMA Consulting expands its US presence
Written by Nathan White
The go-to consulting partner for pricing, reimbursement, and market access strengthens its dedicated support of US pharmaceutical manufacturers through its new New York office.
Nathan White, Senior Principal and US Practice Lead, explains more about what clients can expect from the US team, the need for technology-driven market access solutions in the US, and the benefits of New York bagel working lunches.
Congratulations on opening your new US market access base in New York. Why have you chosen now as the time to get closer to your US pharmaceutical clients?
“In the US, patient access to costly life-saving treatments is becoming more complex and payers are continuing to shave budgets. We’re also about to see massive overhauls to our pricing systems and the Medicare prescription drug program. Additionally, ICER is becoming a critical player in the market access continuum. We are frequently asked by pharmaceutical manufacturers for assistance in navigating the best route to optimal reimbursement and market access for their products. We have been working with US clients for many years, and now is the perfect time for us enhance that support. Our new office in New York is the next step in that path to closer partnership due to its proximity to many of our clients, the excellent talent pool in the region, and reasonable cost of living.”
What is the greatest market access challenge facing pharmaceutical manufacturers in the US right now? How does PRMA Consulting plan to overcome it?
“I think the biggest challenge is the extreme ‘unknowns’: How will ICER influence decisions made by payers and policymakers? Will there be drug pricing reforms at the legislative level? Will Medicare restructure and put more pressure on manufacturers and plan sponsors? How will biosimilar competition increase pressure on manufacturers? These questions require us to have a close pulse on the US systems by interacting with decision-makers and stakeholders at every level of the system. At PRMA Consulting, we’re at the forefront of this by engaging early with payers and policymakers using our tried and tested PRMA Healthcheck® digital application and value assessment framework and our payer research application, the PRMA Access Accelerator®.”
What can your clients expect from the new US team?
“We are bringing all of our expertise in insight-based strategic consultancy and transformative digital applications closer to our US pharmaceutical partners. We work across the entire spectrum of product development, from early clinical development and regulatory filing to commercialization planning and end-of-lifecycle strategy. Our insights feed our strategic guidance on development of evidence to demonstrate value to payers.”
How will a client’s experience with the PRMA Consulting US team differ to your teams in Europe and Asia-Pacific?
“All of our worldwide teams are comprised of pioneering individuals, committed to delivering excellence through collaboration, ownership, leadership, and respect. Our strengths in the US market access environment stem from our grassroots understanding of the US market – our team members come from US payers, specialty pharmacies, reimbursement support program vendors, consultancies, manufacturers, and academic institutions. Clients get the local expertise and deep knowledge of the US combined with the benefit of a global team and significant experience with ex-US HTA markets, which is particularly important when planning ICER engagement.”
What are your goals for the PRMA Consulting New York office this year?
“In addition to growing our team in the New York region, we’re in the process of building out our global PRMA Healthcheck® asset assessment framework to incorporate the major US payer archetypes as well as ICER, in addition to a massive deep primary-research-driven profiling exercise of more than 30 of the top US payers and health systems. This work will allow us to create both archetype and account-level gap analyses, evidence generation plans, and account management strategies with a minimal amount of expensive primary research – all housed in our cloud-based solution. Honestly, this brilliant digital application and framework is one of the key things that drew me to PRMA Consulting.”
Contact the NewYork PRMA Consulting office
Address: PRMA Consulting, Industrious Bryant Park, 1411 Broadway, New York, NY 10018
Navigating the US payer landscape and the evolving influence of ICER