Reimbursement

Your Success in Reimbursement

Reimbursement is critical to market success for products that are administered in hospitals or clinics. BMS advises planning for reimbursement at every stage of product development. Reimbursement issues, such as whether new or existing medical codes are appropriate, affect regulatory choices in product claims and labeling and (for devices) whether to prepare 510(k) vs.PMA applications.

These issues in turn affect clinical studies, including indication for use, patient population and clinical endpoints. In addition, reimbursement needs frequently entail the collection of data on medical economics during clinical studies. Lack of appropriate and convincing economic data can add years to your timeline to profitability.

BMS Goal for Reimbursement Services

To provide strategies and solutions that help our clients achieve favorable coverage decisions and adequate payment for their products.

BMS Reimbursement Services
  • Reimbursement assessment
  • Outcomes studies, reports, and publications
  • Medical economic studies and modeling
  • Applications for new HCPCS, CPT and/or ICD-9-CM codes
  • Coverage policy proposals and technology assessment reports
  • Proposals to Medicare and other payers to address outmoded payment classifications
  • Product awareness with key administrators and thought leaders.
The BMS Difference in Reimbursement Services
  • BMS offers a comprehensive approach that considers reimbursement issues at all stages of product lifecycle
  • BMS helps clients strategically evaluate coding, coverage, and payment issues for their impact on physicians, hospital administrators, and third-party payers
  • BMS helps clients understand how product design, clinical needs, regulatory decisions, and marketing plans affect reimbursement levels and timelines to profitability
  • BMS stays current on changing health care policies.

Reimbursement

Reimbursement is critical to market success for products that are administered in hospitals or clinics. BMS advises planning for reimbursement at every stage of product development. Reimbursement issues, such as whether new or existing medical codes are appropriate, affect regulatory choices in product claims and labeling and (for devices) whether to prepare 510(k) vs.PMA applications.

Economics

Clinical studies are the key to achieving acceptance of new technologies and medical treatments not only for regulatory authorities, but also for reimbursement coverage, formulary acceptance, and physician utilization. Success in clinical studies can be achieved only by excellence and attention to detail in clinical protocols and statistical plans.

Marketing

Managed care has transformed the pharmaceutical and medical device marketplace. Physicians, hospital administrators, and managed care medical directors need relevant, credible information, and your marketing program needs to deliver this information effectively. Accurate competitive intelligence that is timely and segmented can be the key to maximizing market penetration while minimizing sales force costs.