CASE STUDY

"Our Client had great sales with their cardiovascular drug in the private market. But in the VA and DoD, prescribers were stuck with an "old Standard", aka, a generic drug with less efficacy and patient value ."                                                                 

                                                                                                                                       -PAT TRIFUNOV, CEO, VELOCITY BIOGROUP

Action Steps

The decision to hire Federal Sales Specialists was vetted by a company-wide leadership team.  Everyone realized that the sales potential was there – especially because the disease was associated with the veterans’ service in the military. But the vast majority of the company sales team experienced challenges on several fronts:

  • They lacked contacts and credentials to get into the federal accounts

  • Some felt uncertain about the “rules of the road” in government accounts

  • Many lacked an understanding of the big picture about what was happening in the VA and DoD outside their own facilities

The Velocity BioGroup was brought in to advise on contract strategy and sales growth for both the VA PBM and the Defense Health Agency’s Pharmaceutical Operations Division.  It was recommended that four full time sales specialists begin a partnership with the sales team to grow the business. Most Military Treatment Facilities did not have the drug on their formularies – but this changed quickly as the team educated prescribers on the unique value of the drug to veterans, active duty soldiers, and their families.  For the VA Medical Centers, fast growth came in recognition of the right patient profile.

RESULTS

 With time sales began to grow.  All that was needed to bring recognition to a new standard of care was open access, coupled with the recognition of the value of the drug for a subpopulation of patients.

 

The team met their sales goals SEVEN MONTHS AHEAD OF TARGET. By the end of the first year the spillover effect in retail accounts was very evident.  Federal sales had demonstrated a growth of 75% year-over-year versus 35% in general sales.  By the end of the second year an internal team was justified on a proven return on investment.   A smooth transition was effected, using our team to train, mentor and introduce the new inside team.

We didn't realize payer markets could be so complicated. With a product line highly concentrated in the CMS, understanding the rules of the road was critical to our strategic planning process.  

Wayne P., biotech

We didn't realize payer markets could be so complicated. With a product line highly concentrated in the CMS, understanding the rules of the road was critical to our strategic planning process.  
We could not have asked for a better meeting with the CMS. We went in to see the right people completely prepared and were able to present the best arguments possible for our product access petition. 

Pete S., mid-size pharma

Velocity BioGroup

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