510k this. PMA that. VCs are afraid of the FDA and its stringent regulations. Blah, blah, blah. But stop. What does it matter if a device is FDA approved, but not reimbursable. Could reimbursement possibly be MORE important than the regulatory environment within the medical device space? Randel Richner is here to help us better understand the reimbursement game. Listen up!
WHO IS RANDEL RICHNER?
Randel Richner is the founder of Neocure Group, a consulting firm with offices located in Boston, Washington D.C. and California. She founded Neocure in 2006 as a consulting firm specializing in health policy, reimbursement strategy, health economics, and global planning to support biopharmaceutical and medical technology companies. She served as Vice President, Global Government Affairs for Boston Scientific Corporation (BSC) from 1997 until June, 2006. At Boston Scientific, Richner built a global reimbursement and outcomes strategic process for new and existing less invasive medical technologies for BSC product platforms. Over the nine-year period, she was actively engaged in national and international policy and legislative arenas as an advocate for the benefits of innovative medical technology, FDA, regulatory, international trade and payment issues.
Richner holds a Master’s Degree in Public Health Policy and Administration and a Bachelor of Science in Nursing, magna cum laude, from the University of Michigan. Before her career in health economics and policy, she was a practicing dialysis and transplant nurse for 13 years at the University of Michigan Hospital and Northern Michigan Hospital.
IN THIS INTERVIEW, WE DISCUSS:
- A recent case study of how Randel helped save a medical device company from severe reimbursement implications within a week’s time.
- How Randel’s team at Neocure helps medtech and biopharma companies get paid through effective reimbursement and health economic strategies.
- Randel’s dynamic background and how she came to found the Neocure Group.
- Neocure’s unique “orchestra score” philosophy and how it aids in streamlining reimbursement strategies.
- The massive implications for medtech companies based on the healthcare reform wildcard.
- How Neocure’s unique data trends help their medtech and biotech customers achieve effective healthcare economic outcomes.
- The importance of defining the difference between how hospitals get paid and how physicians get paid.
- Why it’s necessary for medtech and biotech companies to catch up to the investors in terms of understanding the importance of reimbursement.
- What Randel means by the statement “comparative effectives is a code word for cost effectiveness”.
- And much, much more!
LISTEN TO THE INTERVIEW:
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The Art of Medical Device Reimbursement
CONNECT WITH RANDEL RICHNER
Randel Richner is the Founder and President of Neocure. You can connect with Randel on LinkedIn.
