How Should You Price Your Healthcare Innovation to Attract Customers, Cover Costs & (Gasp) Make a Profit?
Pricing is among the most important concerns for the longevity and sustainability of an innovation and the brand behind it. And, let’s face it: bringing a healthcare innovation to market ain’t cheap. This may be especially true for radical innovations that disrupt the status quo, which brings about a new set of considerations for innovators and customers alike.
There’s a delicate balance between finding a price that satisfies consumers while still covering costs for innovators, all while bringing in that coveted profit margin that companies need in order to thrive and expand into the marketplace.