Bringing a new healthcare product to market is a complex and challenging endeavor. The Global Value Dossier (GVD) is a pivotal tool that helps with these challenges. This document plays a crucial role in Market Access, facilitating the smooth entry of life science products into healthcare systems worldwide.
What is a Global Value Dossier?
A Global Value Dossier (GVD) is a comprehensive, evidence-based document consolidating critical information about a pharmaceutical or medical device product. Imagine it like a guidebook that brings together all the important details in one place.
This strategic tool is used by pharmaceutical and medical device companies to present the value proposition of their products to payers, healthcare professionals, and other stakeholders in the healthcare system. The GVD aims to provide a clear and compelling story about the product’s value, efficacy, safety, and economic benefits. Creating such a compelling story requires several components including clinical and economic data, patient-reported outcomes, regulatory information, and real-world evidence.
What are the key components of a Global Value Dossier?
- Clinical Data and Economic Data: Clinical data use information on clinical trials, endpoints, and outcomes to establish the product’s efficacy and safety. On the other hand, economic data focus on cost-effectiveness which demonstrates the value of the product compared to existing treatments/solutions. Both require a thoughtful and clear approach to effectively communicate a product’s value proposition, either with the help of visual aids, key findings, or by showing long-term value.
- Patient-reported outcomes (PROs) highlight the impact of the product on patients’ lives, capturing their perspectives on aspects such as quality of life, symptoms, and treatment satisfaction. Such insights into the patient’s experience are becoming increasingly important in healthcare decision-making.
- Regulatory Information ensures compliance and safety for the product. Some examples are regulatory approvals, labeling details, and post-marketing commitments for successful market entry. This information helps build trust by showing: “This product is not just effective; it’s playing by the rules.”
- Real-world Evidence (RWE) is data from post-market studies or patient registries that support the product’s performance in a real-world setting. This data is critical because healthcare doesn’t exist only in the specific conditions of clinical trials. Patients’ lives can be unpredictable at times, and RWE provides insights into how the product influences patient outcomes.
GVD vs iGVD – Static vs Dynamic
The primary distinction between GVDs and iGVDs lies in their format, interactivity, and way of distribution. Global value dossiers are static and are typically distributed as PDF documents, presentations, or hard copies. GVDs are generally non-interactive and depend on readers to navigate and understand the content. They may have charts, tables, and graphs but lack dynamic functions or multimedia elements.
On the other hand, iGVDs are highly engaging, as implied by the ‘i’ in the acronym, which stands for ‘interactive.’ They let users explore data, click on charts for more details, watch videos, and interact with content according to their preferences. This interactivity makes the information more appealing, easier to comprehend, and easier to update in real time. iGVDs are often distributed through online platforms, web portals, or mobile applications, making them accessible to stakeholders through digital means. They can be viewed on various devices, such as smartphones, tablets, and computers.
Overall, iGVDs are better suited to engage stakeholders digitally, making them a powerful tool for conveying the value of pharmaceutical products in a more engaging and user-friendly manner. But how easy is it to create an interactive and user-friendly Global Value Dossier?
How BaseCase helps with iGVD creation
By leveraging the capabilities of value communication software like BaseCase, pharmaceutical and life sciences companies can create compelling, up-to-date, and customized iGVDs that effectively communicate the value of their products to a wide range of stakeholders. Whether our clients choose to build tools in-house or with our help, BaseCase combines interactivity, economic models, and distribution effectively and easily.
The platform’s data integration, interactive data visualization, and real-time update features are particularly well-suited to the dynamic and data-driven nature of iGVDs.
Data Integration: BaseCase allows you to integrate diverse data sources, including clinical trial data, health economic data, and real-world evidence. This is essential for building the foundation of your iGVD, as it centralizes data and makes it accessible for further analysis and visualization.
Interactive Data Visualizations: One key feature of BaseCase is its ability to create interactive data visualizations. You can build dynamic charts, graphs, and dashboards to present complex clinical and economic data clearly and engagingly. These interactive elements make it easier for stakeholders to understand and explore the data.
Real-Time Updates: The ability to update your iGVD in real-time is critical in the ever-evolving field of healthcare. BaseCase allows you to easily incorporate new data, adjust pricing, and reimbursement models, and respond to changes in the market landscape. This ensures that your iGVD remains current and relevant.
Multichannel Distribution: BaseCase provides the flexibility to create digital iGVDs that can be distributed through various channels. Whether it’s through web portals, mobile applications, or other online platforms, your stakeholders can access your iGVD conveniently, enhancing accessibility and reach.
Globalization: If you’re operating in global markets, BaseCase can assist in adapting your iGVD to different languages and regional market access requirements. This helps in ensuring that the value message is consistent across various cultural contexts.
Global Value Dossiers: A key to successful market access strategies
A GVD should be clear, consistent, and comprehensive, and reflect the needs and preferences of the target audiences. A value dossier, whether interactive or not, can enhance the communication of the product value story by providing features such as visual slides, country-specific content, economic models, and direct links to other resources.
It can improve the efficiency, consistency, and quality of the market access process by enabling stakeholders to access, present, and customize the content of the GVD in a dynamic and user-friendly way. With BaseCase, any Market Access professional can create interactive value communication tools and use analytics to quantify their success.
To learn more about BaseCase, visit this webpage: