Global Market Access with tender data & insights
Empower your Market Access strategy with insights that optimize pricing and patient access across diverse global markets.
Market Intelligence: the key to strategic Market Access
The pharmaceutical market access landscape has become increasingly complex, with public tendering emerging as a dominant procurement mechanism across healthcare systems. Tenders now account for a significant revenue stream, presenting unique challenges, as each tendering authority implements different evaluation criteria and submission requirements. Success in this environment requires pharma & MedTech companies to balance competitive pricing strategies with value demonstration tailored to each tender’s specific award criteria.
Tender Central addresses these critical market access challenges by providing comprehensive insights into award criteria and market intelligence specific to tenders. The solution enables Life Sciences companies to understand frameworks across different regions, and develop data-driven strategies and value propositions.
The features that support your work
Award Criteria (for differentiation and shaping)
- Strategic Positioning: understand the non-price factors that influence tender awards. Strategically position your products by highlighting strengths in areas like quality, delivery, safety and supply.
- Value Proposition Development: By identifying key award criteria, teams can refine their value propositions to align with tender requirements, demonstrating the product’s overall value beyond just price.
- Market Shaping: Understand future trends in award criteria & shape the market by proactively adapting product development and market access strategies to meet evolving demands.
Market Access through public tenders
- Market Expansion: Insights into tender opportunities in new markets and help your team navigate complex tender requirements.
- Risk mitigation: Mitigate risks associated with tender participation with a clear overview of tender requirements and competitive dynamics.
- Optimize market penetration: market access teams can identify high-potential markets and tailor their bidding strategies to maximize market penetration and accelerate product adoption.
Net Pricing Intelligence
Experience the Impact
Save time & resources
One centralized access point, to quickly gather actionable insights, enabling you to focus on strategic planning rather than data collection.
Make informed, data-driven decisions
Understand how pricing decisions impact reimbursement but also how these decisions will be perceived by payers across different care settings and therapy areas. Tender Central empowers teams to analyze these decision drivers, providing deeper insights into market dynamics.
Remain Adaptable
Stay agile by providing up-to-date tender information that reflects current market conditions. Refine strategies in real time, ensuring that your product stays competitive
Ensure long-term market success
By aligning early-stage pricing models with real-world tender data, teams can anticipate challenges before the product reaches the market, ensuring smoother negotiations with payers and better market penetration
FAQ
Q:
1. Who can benefit from Cube RM?
A:
Cube RM empowers Life Sciences and Healthcare organizations of all sizes involved in the public tender bidding process. Whether you’re a small biotech startup or a large pharmaceutical company, our platform streamlines tender discovery, provides valuable insights for informed decision-making, and helps you optimize your bid strategy for increased win rates.
Q:
2. How does Cube RM analyze tenders using AI?
A:
Cube RM leverages Large Language Models (LLMs) to analyze tender documents in multiple tender sources and languages. These advanced AI models understand the key details of healthcare terminology and tender requirements. This enables them to extract crucial information, identify relevant opportunities, and automate tasks with human-like accuracy. This comprehensive analysis ensures you have all the relevant data at your fingertips to craft winning bids.
Q:
3. What kind of insights does Cube RM provide through Tender Central?
A:
The Challenge: Finding and analyzing relevant tender data can be time-consuming and difficult. Tender Central solves this by:– Aggregating Tender Intelligence: Access all relevant tender information from a single, user-friendly platform.
– Personalized Insights: Easily discover tenders tailored to your specific needs and portfolio with just a few clicks.
– Forward-Looking & Historical Data: Gain insights from both upcoming published and anticipated tenders, as well as historical data on winners, awarded values, and award criteria.
– Competitive Intelligence: Uncover key information about major tender buyers, competitors, awarded values, and award criteria specific to your market and portfolio.
Q:
4. How does Cube RM’s tender discovery process reduce “noise”?
A:
Our AI-powered healthcare & tender-specific DeepDive search, goes beyond simple keyword matching.– Deep Dive Technology: This advanced technology analyzes tender documents using healthcare-specific criteria and tender requirements.
– Focus on Relevant Opportunities: By filtering out irrelevant information, Deep Dive ensures you see only the most relevant public and local tender opportunities for your business.
– Extract Hidden Details: DeepDive can even extract crucial details like award criteria, specific requirements, and lot details often buried within tender documents (dosage, form, strength etc). This helps you make informed decisions about tender qualification.
This targeted approach saves you valuable time by eliminating irrelevant tenders and focusing on the ones with the highest potential for success.
Q:
5. How does Tender Pricing Guidance help me find the optimal price to bid?
A:
Tender Pricing can be complex, especially with limited competitor data. Cube RM’s Tender Pricing Guidance helps you overcome this challenge by leveraging AI to:– Simulate Pricing Scenarios: Test different pricing strategies to identify the optimal price point that maximizes both profit and your chances of winning the bid.
– Analyze Competitor Data: Gain insights into potential competitor pricing strategies based on available data.
-Win Probability Calculations: Calculate your win probability at different price points to make informed bidding decisions.
– Guided Process: Tender Pricing Guidance walks you through the process step-by-step, providing checklists and relevant information at every stage.
This comprehensive approach empowers you to set competitive and profitable prices for your tenders, ultimately increasing your chances of success.
Related Resources
CASE STUDIES
TENDER MARKET INTELLIGENCE
23/05/2023
ARTICLES
TENDER MARKET INTELLIGENCE
TENDER MANAGEMENT
19/05/2023
Create strategies for a sustainable future in the Pharma Industry
See how tender data can help you drive successful market access outcomes.
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