Chicago-based IPA 100 firm Baker Tilly (FY21 net revenue of $1 billion) has launched rwdNOW, a new self-service market assessment tool designed to help life sciences companies pinpoint niche markets with high opportunity levels for the adoption of their products.
rwdNOW leverages Medicare and commercial insurance claims data to provide these companies with insight into payer reimbursement trends and patient resource consumption over time, layered with therapeutic or medical condition details, provider specialty and patient and referral characteristics. In doing so, they can visualize market size and opportunity, identify characteristics and opportunities of therapeutic categories and define where targeted care is being rendered to enable realistic economic opportunity profiles.
“With rising competition in the U.S. market, it is critical for life sciences companies to create a data-driven market access strategy that supports product adoption and coverage at all levels,” says David Gregory, Baker Tilly health care consulting industry leader. “rwdNOW enables companies to better understand the market and identify potential changes to achieve their market access goals.”