Medical Device Pricing Strategy
Selling your product and services at the right price to maximize profits has become increasingly important and more difficult for medical industry vendors who are battling greater competition and increased pricing sensitivity among hospitals and healthcare facilities. Simply asking potential customers “what are you willing to pay?” will quickly lead your marketing & pricing teams astray. We provide a set of proven and accurate methods to determine willingness to pay, ensuring your medical device pricing strategy aligns with profit and revenue-maximizing goals.
Sell Products and Services with Confidence in Your Pricing
Identify acceptable price range
Navigate the complexities of pricing in the medical industry by pinpointing the acceptable price range for your products and services. We offer proven methods to determine a pricing strategy that aligns with market expectations, ensuring you maximize profits while staying competitive.
Define customer's price sensitivity
In a landscape marked by heightened competition and pricing sensitivity, understanding your customer's price tolerance is crucial. Our validated methods provide insights into price sensitivity, enabling you to tailor your pricing strategy to meet customer expectations and enhance overall market competitiveness.
Assist in pricing model selection for profit and revenue maximization
Optimize your pricing approach with our assistance in selecting the right pricing methodology and model. We provide a set of proven and accurate methods to determine willingness to pay, ensuring your medical device pricing strategy aligns with profit and revenue-maximizing goals. Say goodbye to guesswork and hello to a data-driven approach that sets you apart in the medical industry.
Comprehensive Pricing Strategy Solutions Across Healthcare Sectors
Our expertise extends across various healthcare sectors, where we provide tailored pricing strategies to meet the unique demands of each industry. Here’s how our solutions specifically address the needs of each sector:
Medical Imaging
Pricing strategies in the Medical Imaging industry require a nuanced approach due to the specialized nature of the equipment. We provide solutions that factor in technological innovation, market demand, and competitive positioning. Our cost-plus and value-based pricing models are designed to optimize revenue while maintaining competitiveness.
In-Vitro Diagnostics
For IVD companies, we provide comprehensive pricing strategies that take into account the market dynamics of diagnostic products. Our offerings include market research, price sensitivity analysis, and competitive benchmarking, tailored to ensure competitive pricing across various customer segments, from large healthcare providers to smaller clinics.
Pharmaceuticals & Life Sciences
In this regulated industry, we develop precise pricing strategies that address market access and reimbursement challenges. We leverage advanced tools like conjoint analysis to identify optimal pricing, ensuring compliance and maximizing revenue potential. Our strategies reflect the true value of your products while adhering to industry standards.
Medical Informatics & AI
We develop dynamic pricing models for advanced technologies like CPOE, EMR, PACS, and Point-of-Care mobile solutions. Our focus is on understanding market trends and adoption rates, enabling us to set competitive prices that maximize both adoption and profitability.
Medical Devices & Diagnostics
We develop pricing strategies through market segmentation and competitive analysis, focusing on feature differentiation, regulatory pathways, and customer willingness to pay. This approach ensures your pricing aligns with market expectations and maximizes profitability.
Our Consultative Approach
Our consulting services are designed to empower your business with the knowledge, strategies, and best practices needed to make informed decisions, improve your marketing research processes, and achieve your business objectives. We work closely with you to uncover opportunities, address challenges, and develop a tailored roadmap of marketing research for success.
Assistance in Pricing Model Selection for Profit and Revenue Maximization
Optimize your pricing approach with our assistance in selecting the right pricing methodology and model. We provide a set of proven and accurate methods to determine willingness to pay, ensuring your medical device pricing strategy aligns with profit and revenue-maximizing goals. Say goodbye to guesswork and hello to a data-driven approach that sets you apart in the medical industry.
Submit an RFP
Initiate the next steps by submitting an RFP. Our team is prepared to align our expertise with your product's requirements, fostering solutions that exemplify success and drive innovation at every turn.
Pricing Optimization Research Methodologies
- Van Westendorp Price Sensitivity Meter: a crude technique to explore an initial price range
- Cascading Price Analysis: to test specific price points
- Conjoint Analysis (CBC) or Adaptive Conjoint (ACBC) that set the foundation for a preference and even a demand model, recognized to be the most reliable framework for pricing research, Revenue, Profit, and Market Share Modeling
Innovative Tools and Technologies
Our proprietary tools, such as simPRO™, PROfiler™, and vwPRO™, offer unparalleled insights into customer segmentation, preference simulation, and pricing analysis. These tools are specifically designed for the Med-Tech industry, allowing for precise and actionable data analysis that informs every aspect of your pricing strategy. With vwPRO™, you can gain directionally informative pricing data that supports your decision-making process, ensuring your products are optimally priced for market success.
Related Tools
PROfiler™
PROfiler™ is an assessment tool created to help your sales organizations identify the customer segment where a prospect will likely belong.
simPRO™
simPRO™ is the only custom-designed Preference Share Simulator specifically for the Med-Tech industry.

What Our Partners Say
Companies like you are the reason that we do what we do. We're here to serve you. Read this selection of client testimonials to see how we've been a part of VOC in the medical industry.
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