Key Business Impact –
Magellan provided the client the data it needed to confidently move forward with the acquisition of a promising new technology.
Situation (Discuss)
The client had interest in acquiring a unique 510k device from a company outside the United States. They were familiar with Magellan’s marketing support services and requested on-site product evaluations by clinicians to test the product’s viability.
Business Recommendation (Design)
Magellan recommended that the client conduct additional due diligence and analysis of the opportunity prior to making a decision to acquire the device. Magellan proposed to support the client by 1) conducting focus groups consisting of physicians and clinicians of various medical specialties, representing a wide range of practice settings across multiple geographies; 2) coordinating on-site evaluations of the product by a subset of focus group participants who demonstrated a strong interest in the product; and 3) completing an analysis of reimbursement opportunities and challenges.
Magellan Team (Deploy)
A Market Research Manager was engaged to conduct focus groups in three cities. He was assisted by a team of three Clinical Specialists who were located in each city. One of the Clinical Specialists helped to coordinate the on-site product evaluation at three institutions in her metropolitan area. A Reimbursement Specialist joined the team to prepare and present a written overview of key reimbursement issues. The project was also supported by an Executive Sponsor, Project Manager, Project Coordinator, and Data Entry Associate who handled project management and administration tasks including focus group recruitment, logistical support, data collection, and quality control, among others.
Results (Deliver)
The project produced the following key deliverables for the client:
Business Impact
The project provided the client the information it needed to confidently move forward with the acquisition of this promising technology. Data gathered during the focus groups and on-site evaluations helped the client to begin developing marketing strategies for introduction of the product to the U.S. market, including the development of a second generation product. The project was delivered on time and within budget.
Competencies Demonstrated
Strategic Planning (New Product Development, Concept Testing) • Product Development (Product Launch Strategy) • Marketing Support (Focus Groups, Alpha & Beta Site Research) • Reimbursement Management (Reimbursement Strategy) • Business Development (Due Diligence)
Key Business Impact –
Magellan provided the client the data it needed to confidently move forward with the acquisition of a promising new technology.
