The Team
LSI has built an extensive expert team comprised of highly experienced professionals from the medical technology, biotech and pharmaceutical industries who have been health plan executives, medical doctors, PhD health economists, medical science liaisons and certified professional coders.
Collectively, our team brings areas of expertise that spans virtually all medical disciplines. Our experience shows that though reimbursement fundamentals follow unique pathways, they apply to all medical and surgical disciplines thereby making the reimbursement process as important to understand as the medical discipline.
Companies outside the United States (OUS) have the same challenges bringing their medical technologies into the U.S. market, as do U.S. companies. Many, though, lack the context and contacts to be successful in the US market. LSI works with small and large medical technology companies in the United States and internationally.
We specialize in coaching companies on how to successfully navigate reimbursement barriers. We work with companies on how to use OUS studies to support applications for new HCPCS codes and favorable coverage policies. LSI offers a strong understanding of payer and provider perspectives in health economics combined with business development and negotiation skills. The company excels in translating government and private payer policies into successful reimbursement planning.
The Process
When entering a new market, knowledge of the market and the idiosyncrasies of the payment system is crucial to achieving reimbursement and, ultimately, success. Companies need to assess the coverage and evidence requirements, coding issues and payment for each product across each setting of care. Prior to putting resources into a launch LSI can help you answer the necessary questions:
- How will you sell your product?
- What are the regulatory and reimbursement requirements for selling your product?
- What clinical, health economic and support resources do you need to be successful?
It is absolutely critical to know the market environment that you’re entering and how your product will be put into service by the end user.
- Is it designed correctly to fit the use and their expectations?
- Does the product have value in the market compared with the other products currently available?
- What is the business model that you have chosen for selling your product in this market?
LSI has an experienced team of in-country expert partners available to help with the commercialization of your product. Our entire team has direct industry experience in new product launches and fully understands the reimbursement pathways, key decision makers and ways to maximize success. Working together with our clients, we can re-focus business strategies for pharmaceutical, medical device and diagnostic products to achieve maximum reimbursement potential.
