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Hospital value-analysis committees are the final hurdle to clear before introducing new products to the market.
To navigate these committees effectively, orthopedic companies must understand the intricacies of VAC decision-making dynamics and tailor their approach to align with hospital priorities.
VACs assess the cost implications of adopting new products by comparing prices to incumbent alternatives and scrutinize the impact of new product introductions on hospital margins. The committee members focus on patient outcomes and strongly consider clinical evidence during their decision-making process.
Like any business interaction, interpersonal and transparent communication is critical throughout the product evaluation process.
Orthopedic companies that can effectively sell the usefulness and overall value of their products and present relevant information to VAC members in ways that differentiate their devices from the competition will succeed in getting through the gatekeepers and into the operating room.
Infographic proudly sponsored by Autocam Medical.
