Free PDF Strategic Pricing for Medical Technologies: A Practical Guide to Pricing Medical Devices & Diagnostics, by Christopher D Provines
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Strategic Pricing for Medical Technologies: A Practical Guide to Pricing Medical Devices & Diagnostics, by Christopher D Provines
Free PDF Strategic Pricing for Medical Technologies: A Practical Guide to Pricing Medical Devices & Diagnostics, by Christopher D Provines
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Review
"All companies need to get their pricing right, but few do. Provines lays out how to develop the right pricing strategy in an easy and highly readable format. This is a must read for every executive and practitioner!"  Jason Aroesty, Vice President - Siemens Diagnostics, Head of Northern Europe "Provines brings his vast knowledge to bear in dissecting the intricacies of medical technology pricing. A must read for practitioners. Brilliant!"  Lakshman Krishnamurthi, Northwestern University, co-author of "Principles of Pricing: An Analytical Approach," (Cambridge University Press, 2012) "Chris Provines has a distinguished career in medical technology pricing. His experience shines through in the clear manner in which he describes why medical businesses are different and how companies can use value to drive their pricing strategies in this critical arena." Kevin Mitchell, President - The Professional Pricing Society, Inc. "Pricing is often overlooked as a strategic capability. Provines provides a clear roadmap to navigate the intricacies of pricing decision-making and use it for competitive advantage. A "must read" for marketing leaders from one of the industry's leading experts!" Karl F. Schmidt, Corporate VP - Johnson & Johnson (retired)Bronze Award Winner in the Axiom 2013 Business Book Awards.  Judging was based on the content, originality, design, and production quality, with emphasis on innovation and creativity.
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Giving Back: Â 10% of book revenue will be donated to charity.
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Product details
Paperback: 232 pages
Publisher: Christopher Provines; 1st edition (September 5, 2012)
Language: English
ISBN-10: 0615661890
ISBN-13: 978-0615661896
Product Dimensions:
6 x 0.5 x 9 inches
Shipping Weight: 14.6 ounces (View shipping rates and policies)
Average Customer Review:
5.0 out of 5 stars
10 customer reviews
Amazon Best Sellers Rank:
#1,209,487 in Books (See Top 100 in Books)
Chris Provines shares his vast experience in the area of strategic pricing of medical technologies in a brilliantly organized, easy-to-read format. Compiled literature about the commercial aspect of the medical devices business and its intricacies is hard to come by; this book goes way beyond its title and explains pricing with the big picture in mind. The many internal and external factors to consider when defining a pricing strategy are thoroughly examined and put together in a clear and concise way.Anybody interested in improving his or her understanding of the overall medical device business will find in this book an invaluable tool. In particular, executives, consultants, entrepreneurs and middle managers working in the Medical Technology field, whether in General Management, Domestic or International Marketing, Sales, Business Development, Finance, Market Access, Pricing, Reimbursement or Health Economics roles, will be glad to find an outstanding framework to enhance their contribution to the financial health of the organizations they serve.
Straight forward treatment of this niche marketplace. Focused on providing a frame work of known unknown questions to be answered and considered. Futher has ways to quickly determine if prospective projects may be dead on arrival as well as giving a full perspective of what may be necessary to actually run a successful product introduction.
This is the best text on the topic because it covers the real life issues, complexities and challenges of pricing medical devices. Honestly, I've seen a lot of people struggle with pricing medical technologies. Sometimes, they turn to other pricing books only to find them too generic. This book deals with real life issues a sales & marketing executive will see in the med tech industry. First, the overall framework for thinking about pricing is clear and complete. It addresses the core pricing/marketing activities such as quantifying value, determining a pricing strategy, and communicating value. Next, there are many frameworks, tools and examples that help illustrate "how to" price a medical technology. Finally, the book covers a wide breadth of issues global med tech execs will see such as international pricing, pricing innovations, contracting and tendering strategy, and reimbursement & evidence. The chapter on strategy is worth the price of the book alone! It's well written, clear and comprehensive. I'll put it to use right away.
The author set out to write a book on pricing strategy for medical device industry professionals but has actually produced a handy volume of knowledge that is useful to anyone interested in pricing. The book starts by explaining the similarities and differences in pricing for medical device versus other industries, the importance of reimbursement and evidence of value, and why and how to understand the needs of each buying center to anticipate buyer behavior. Then with a forward looking view of the increasingly aggressive purchasing environment in healthcare, the book discusses various dimensions of value rather than rely solely on economic value. The discussion on value alone makes this book distinctive especially in the context of what the author says, "these goods are not consumed because people want them...."There are short case studies and real examples from the med tech industry throughout the book. The layout of the book and the writing style make the book engaging and I appreciate how the author chose substance over simply elaborating on artificial buzzwords. I wish there were additional examples on capitated agreements and benefit sharing between, say, payers and providers, but the author covered these topics quite adequately so I am not complaining.
Mr. Provines has taken a very complicated subject- strategic pricing for medical technologies - and written an easy to understand guide that provides an excellent roadmap for medical technology companies to consider and follow in developing their strategy for the pricing of new products. The book will resonate with pricing and reimbursement professionals as it provides key insights and ideas for consideration as new products are developed. It will also be impactful to C-suite management as it highlights the importance of a cogent and fully integrated pricing strategy not only for new and innovative technologies but also to help better manage the life cycle of all products offered by a medical technology company.As world economies continue to slump, the pressure to control and reduce costs and payments for medical technologies by government and private payers will increase. As healthcare reform initiatives begin to be implemented, the need for medical technology companies to understand the value of their products and to communicate them via effective strategic pricing will become a core competency for successful organizations. In this book, Mr. Provines has not only provided the rationale for a medical technology company to build up the core competencies of reimbursement and pricing management, but more importantly he provides clear cut and practical steps for a company to implement in order to strategically price its products. I highly recommend this book if you are responsible for or even just interested in better understanding the role that reimbursement and pricing have in successful medical device and diagnostic companies.
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