Value Analysis Committee (VAC) Packages
WHY IS THIS IMPORTANT?
VACs are difficult customers to persuade; they can’t be influenced by features, benefits, or user preference. They require evidence of value.
The main function of VACs is to evaluate new technology acquisitions to select products and services that provide the highest standard of care at the lowest overall cost, so they’re concerned with evidence of comparative safety and effectiveness for interventions aimed at replacing an existing technology or procedure, process improvement, and quality improvement, as well as cost and revenue impact of the technology.
Since the integration of VACs in the hospital ecosystem, the hospital sales environment has changed drastically; you can’t present data directly to the entire VAC, but you can arm committee members with evidence of value.
DID YOU KNOW?
VACs can be quite diverse, comprised of members from several different hospital departments bringing multiple perspectives (meaning multiple potential objectors and champions alike), and can include MDs, nurses, purchasing agents, liability specialists, supply chain management, administrators, janitorial staff and other stakeholders.
Products without a physician champion are less likely to be approved by the VAC.
In a general sense, what works for VACs works for payers, too.
HOW WE CAN HELP
With an advanced understanding of the ways facility budget holders assess value of new technologies and extensive experience working with and influencing VACs, our experts can help you understand the environment you’re selling into and provide you with a compelling value analysis committee pack.
Our VAC packs can be customized to include any or all of the following: a formal letter template for surgeon/clinical champion use for submission to VAC, FDA documents, product description/IFU, product codes, clinical studies, administrative database studies, value analysis/ROI tools (including interactive budgetary impact and cost-effectiveness models) and/or information, marketing brochures, educational brochures, surgeon education materials, staff training overview, pricing information, reimbursement information, product warranty information, and key contacts.
Our VAC packs can be paired with sales support and training for successful implementation.
Insights
It’s Time to Position Yourself to be Heard
It's Time to Position Yourself to Be Heard Since TTi Founder & CEO, Dr. April Zambelli-Weiner, [...]
Establishing Value for a Mobile App: Creating Compelling VAC Arguments
Establishing Value for a Mobile App: Creating Compelling VAC Arguments [Confidential Commercial Client] [...]
Differentiating a Surgical Commodity for VACs
Differentiating a Surgical Commodity for VACs [Confidential Commercial Client] The client had developed [...]
Position Yourself to Be Heard