G: Hi, thanks for coming. My name is Grace, and I will be the facilitator today C: Nice to meet you. I'm Chris. G: Please sit down, and tell me a bit about your company
C: Well, we've been trying to develop a new device to give injections that doesn't break the skin. We call it a hypospray. Kids will love it - no more bandaids! G: That's interesting. We'll delve into it in a bit more detail, but that sounds like a value proposition. Anyway, let's open up META and get started
G: So, can I check that your company is still called SickBay 1? C: Yes, that's correct. G: OK, I see that it's not available for sale in the UK or anywhere else...could you tell me about what you think the benefits are for the hypospray, compared with what happens now in the NHS?
C: What do you mean? It's obvious, isn't it - you don't need a needle and it doesn't hurt. G: In order to make a convincing case to payers in the NHS, you need to think about your value proposition
G: A value proposition is a description of what will provide value to the NHS. It's not necessarily the same thing as describing the features and benefits of a device. Given the limited funds available in the NHS, payers need to think about what is the most cost-effective use of money, i.e. the most bang for your buck. In your case, it may or may not be children - infection control might also be important.
C: OK, so what do payers care about? I saw in the synopsis that it asks about established practice in the NHS - how is HypoSpray supposed to be cheaper than a needle that costs about 20p?? G: That will be part of the information you need to gather. You may wish to look at materials NICE publishes, for example there is a costing template for PH52 that could be helpful. It's not just about the absolute cost, though - it's about the costs and benefits of the whole treatment pathway. That's why you need to think through what long term benefits HypoSpray could provide, not just avoiding an immediate ouch and reproachful glare.