Medical device company leverages budget impact model in healthcare to drive hospital adoption
Discover how a medical device company used a budget impact model in healthcare to demonstrate value and drive hospital adoption of its neuromodulation therapy.
Client background
An early commercial stage medical device company located in California, specializing in non-invasive therapeutic neuromodulation technologies for neuropsychiatric disorders. Their flagship product is a rapid acting treatment designed to address major depressive disorder.
The business challenge
The company faced challenges expanding the adoption of its neuromodulation treatment. To facilitate growth, the company needed a budget impact model (BIM) in healthcare that clearly demonstrated the economic value of its treatment compared to existing alternatives. They aimed to equip hospital administrators with clear financial data to support informed decision making during the procurement process. To address this need, they engaged Baker Tilly to develop a comprehensive BIM that would highlight the cost effectiveness and potential financial benefits for healthcare providers.
Strategy and solution
Baker Tilly analyzed hospital claims data to evaluate and compare outcomes associated with the client’s neuromodulation therapy compared to existing treatments. Using these insights, Baker Tilly developed a flexible, evidence based BIM that could be tailored to reflect each hospital's unique patient populations and financial structures.
The BIM provided hospital decision makers with clear, data-driven projections of potential cost savings and clinical benefits. By strengthening the company’s value proposition during procurement discussions, the BIM helped accelerate hospital adoption and support expansion into new markets.