Why Your Medtech Strategy Should Start with Healthcare Payers
Interview with Health Economist Nic Anderson
Nic Anderson might be the world’s only self-proclaimed “natural-born health economist.” What he means is that he didn’t train for the profession: he questioned his way into it.
While Nic was working on his MA in biomedical imaging at Boston University, he realized his focus was different than his peers’.
“I kept asking, How much does that [procedure] cost?” he says. “I was the only guy that seemed to care about how much all this stuff cost.”
Nic combined his interests in health and economics when he became a payer for Intermountain Healthcare. Since it is an integrated delivery network, the hospitals (or providers) and insurance company (or payer) were on the same campus.
Although Nic was on the insurance side, he also worked with the hospital’s value analysis committee (VAC), presenting research on new procedures and devices he thought would be worth covering.
Nic eventually moved on to other projects, including co-founding a biotech startup. He’s now a consultant, helping medical companies obtain insurance coverage and reimbursement, and works as a health economist for Boston Scientific. By intention, he doesn’t maintain a social media presence, or even a website: He says interested parties can email him.
In this episode of Medsider, Nic explains why medtech companies in particular need to win over insurance payers, how investing early in a health economics and market access (HEMA) team will help you do that, and how to write a dossier a payer won’t want to throw out the window.
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