A single-source-of-truth solution that offers the ability to break down siloes and provide all involved teams with the same transparency for all processes is essential to efficiently bring products to market and reduce the squeeze on margins. Medical devices often face uncertain reimbursement coverage, with some being fully, partially, or not covered at all by managed care. As new reimbursement models emerge, you must adapt quickly to ensure your devices can access markets under these schemes. Navigating these constantly changing regulations requires a strategic focus on compliance to avoid disruptions in market access and profitability.

Constantly shifting reimbursement policies and regulations create significant challenges. You must ensure compliance across various global markets. Automating compliance processes is essential to minimize the risk of fines and penalties. With the rise of global initiatives like pooled procurement, manufacturers must adhere to price referencing, price caps and value- and outcome-based agreements that make pricing strategies more complex. Evolving regulations demand a fast, agile approach to compliance, especially for manufacturers with more complex product offerings, including bundled products and services. Can your current system and processes handle this? 

A leading manufacturer of consumable medical devices specializing in single-use surgical supplies struggled to keep pace with constantly changing reimbursement policies and evolving global regulations. They faced growing complexities around price caps, price referencing and outcome-based agreements, all of which made pricing strategies increasingly difficult to manage. Compliance with global markets, especially with initiatives like pooled procurement, added further strain. The situation put the company at risk of shrinking margins because navigating these challenges required more agile and efficient processes.

The manufacturer implemented Vistex Solutions with a single source of truth to unify its compliance and pricing strategies. By automating compliance processes, it could stay ahead of evolving regulations and ensure its products meet the necessary standards across various markets. Vistex also enabled real-time visibility into price caps, reimbursement coverage and market trends, empowering the company to adapt its pricing models to meet outcome-based agreements more effectively.

With our integrated software, the company avoided potential fines and disruptions and maintained transparency across all teams. This allowed them to streamline market access and ensure their consumable devices were priced competitively while remaining profitable, even in the face of shifting reimbursement models. As a result, they avoided the margin squeeze trap and strengthened their position in a highly competitive market.

A single-source-of-truth solution that offers the ability to break down siloes and provide all involved teams with the same transparency for all processes is essential to efficiently bring products to market and reduce the squeeze on margins. Medical devices often face uncertain reimbursement coverage, with some being fully, partially, or not covered at all by managed care. As new reimbursement models emerge, you must adapt quickly to ensure your devices can access markets under these schemes. Navigating these constantly changing regulations requires a strategic focus on compliance to avoid disruptions in market access and profitability.