Theranica
Market Conditioning Strategy
Challenge: Theranica needed to shift healthcare providers, particularly pediatricians and pediatric neurologists, from relying on traditional drug treatments for pain management to prescribing remote electrical neuromodulation (REN) therapy, specifically through their wearable device, Nerivio. The goal was to increase awareness of the device, change prescribing behavior, and ultimately create enough demand to push insurance payers to cover prescriptions for patients in need.
My Approach
1. Market Conditioning Strategy Development
As the Market Conditioning Strategy Lead, I was tasked with creating a strategy that would reposition Nerivio as a viable, non-drug alternative for pain management in pediatric patients. The strategy included:Education and Awareness Campaigns: Targeting pediatricians and neurologists to educate them about the benefits and efficacy of Nerivio over traditional drug treatments, with a focus on its clinical trial results and positive outcomes.
Data-Driven Messaging: Crafting compelling messaging supported by clinical data to demonstrate how Nerivio could help manage pain without the side effects associated with pharmaceuticals.
Stakeholder Engagement: Engaging with healthcare professionals to build trust in Nerivio as a leading innovation in pediatric pain management.
2. Awareness and Pressure on Insurance Payers
In addition to targeting healthcare providers, the strategy was designed to build enough awareness around Nerivio to put pressure on insurance payers to cover the device as a prescribed treatment for pain management. Tactics included:Provider Advocacy: Ensuring pediatricians and pediatric neurologists understood the need to advocate for their patients by prescribing Nerivio.
Collaborating with Patient Advocacy Groups: Partnering with organizations that could amplify the push for insurance coverage by highlighting the device’s benefits and supporting patients’ needs.
Insurance Payer Engagement: Positioning Nerivio as a cost-effective solution compared to long-term drug treatments, creating pressure for payers to include it in their reimbursement plans.
3. Campaign Implementation
The implementation of the strategy included a combination of digital and traditional tactics:Content Marketing: Creating content targeting healthcare providers, offering compelling evidence on the effectiveness of Nerivio in managing pain.
Social Media:: Using social media to build brand awareness and credibility among healthcare providers, focusing on how Nerivio was gaining traction in the medical community.
Impact & Results
Increased Awareness: The market conditioning strategy significantly raised awareness of Nerivio among pediatric healthcare providers, leading to a growing number of prescriptions for the device.
Pressure on Insurance Payers: As awareness grew, the strategy successfully put pressure on insurance companies, with some starting to cover Nerivio prescriptions, making it more accessible for patients who needed it.
Positive Provider Feedback: Pediatricians and pediatric neurologists began to view Nerivio as a viable alternative to drug treatments, citing its non-invasive nature and effectiveness in clinical settings.
Increased Brand Recognition: The multi-channel campaign resulted in stronger brand recognition for Theranica, positioning it as a leader in the remote neuromodulation space for pediatric pain management.
Key Deliverables
Market Conditioning Strategy: A comprehensive plan that targeted pediatric healthcare providers, built awareness, and advocated for insurance payer coverage.
Educational Content: Developed case studies, email campaigns, and webinars designed to educate healthcare professionals about Nerivio.
Stakeholder Engagement: Worked closely with patient advocacy groups and healthcare providers to amplify the push for wider adoption and insurance coverage.
PR and Media Outreach: Secured media coverage and engaged with industry influencers to build credibility and increase awareness of Nerivio.