GPI forecasts healthcare product price potential using advanced analytics
Today Global Pricing Innovations (GPI) reports that it has validated an analytical method for forecasting new drug price potential during early stage development, opening a pathway to digital transformation for teams engaged in pricing and market access. GPI has successfully forecasted prices for new products by blending its market-leading database of market access information, GPI pulse¬TM, with a framework that maps payer value perception and behavior.
The framework allows pricing teams to use data to anticipate payer response for early clinical stage drugs – typically an involved and uncertain process. GPI has validated the method in the UK and France and is expanding it across countries captured by GPI pulse. GPI’s framework uses multi-criteria decision analysis and published value frameworks. It is built on GPI’s deep domain knowledge, access to data and rigorous approach to developing and testing new analytics.
“The concept of value in healthcare is key to pricing,” said GPI’s founder and CEO, Preeti Patel, “yet there is little global standardization. We’ve quantified global HTA assessment factors and value drivers into a framework that allows teams to understand the variation in value perception across markets and impact on price.”
GPI has a growing footprint in pricing and market access analytics. GPI pulse TM is a revolutionary platform that captures real-time global price data and reimbursement decisions across 90+ markets at a product and indication level. It supports a wide range of innovative analytical tools, insight generation and P&MA data architecture.
GPI’s customers include price, access and commercial teams within biopharma, who utilize GPI’s data and analytical capabilities to better understand pricing scenarios at an early stage and support market access planning and strategy across the product lifecycle.
Global Pricing Innovations (GPI) is a market leader in business intelligence, analytics and innovative solutions for the life science industry. GPI delivers integrated insights, technology solutions and strategy development that make a measurable difference to price, access & commercial teams within biopharma. Our combination of innovative technology platforms, data, and analytical expertise enable industry to drive sustainable price and access strategies and agile infrastructure. GPI’s cultural values are centered on promoting the ambitions of inspiring and talented individuals so together we can make a difference to the life sciences industry. We value collaboration, innovation, openness and authenticity, and work as ‘one team’ with our clients.
As a global company, GPI has operating units and service partners throughout the world. GPI is a privately held company headquartered in London, UK.