In our 20+ collective years of experience, we’ve worked with hundreds of medical device partners who understand the importance of reimbursement, but what many don’t understand is that health economics and reimbursement go hand-in-glove.
Reimbursement provides the glove – the framework – to allow you to be successful with payers. Health economics information is the hand that goes in the glove, allowing you to reach out and grab your revenue targets. Without health economics data, you can’t build coverage.
Health economics data to support your value proposition must be developed simultaneously; the cost of waiting can be missed revenue targets, delayed milestones, and difficulty becoming cash-positive.
We had coding in place that provided adequate payment and we thought coverage would be a non-issue because the technology was inexpensive.
We were wrong.
It wasn’t until TTi established our cost-effectiveness through health economic modeling and subsequent publications that we began to see positive coverage decisions.
-CEO, Mid-Sized Medical Device Company
Coding + payment without coverage = market failure. If you need reimbursement, you need health economics.