Pharma pricing software
Setting optimal price is a forecasting problem. We have to forecast how the market (payers, doctors etc.) will react to the different possible prices that we could charge for a pharmaceutical.
In forecasting the response to price, we can be guided by forecasting principles that have been found to hold true in every field where they have been tested...
- Models predict better than judgment.
- Combining the predictions from a number of different (and the more different, the better) models increases accuracy.
- Simple models are at least as accurate as complex models.
So, Inpharmation's PriceIT software combines all the most effective pharma pricing models into a single platform. The models are calibrated using thousands of real world pricing decisions by payers around the world and predict how both payers and doctors will respond to any given price.
PriceIT is licensed by pharma companies, or used by Inpharmation as part of a consulting assignment to help pharma companies established an optimal value-based price for their product.
