Simon-Kucher & Partners Workshop
It was a great honour for Hochschule Fresenius and a great opportunity for its students that Simon-Kucher & Partners, a successful consultancy company, offered a pricing workshop for students. The workshop started with a short lecture on pricing to ensure that all students had the same level of knowledge and to recapture what had been learned in the last few months. It showed them what they have learned in class is not only theory but how it can be put into practice. After the short lecture, the students were separated into groups and each group was declared to be a “pricing company”. Each company was given a summary description of three hypothetical countries. The task was to set the optimal price for a medicine for three countries in three different scenarios: launch of the new medicine; harsh economic crisis with a reduction of the healthcare budget and end of drug patent. For each scenario the groups had only ten minutes to calculate the price. The results were put into an excel model which gave an output of the performance of each group. These relatively easy examples gave the students a great idea of the complexity of setting a good price for a medicine in a real world environment. After a short break, the student groups had 30 minutes to prepare for a negation about re-imbursement of a medicine. The student’s team naturally tried to close the deal and to drive a high profit, while the payers, played by the Simon-Kucher team, of course pushed down the price for the new medicine as far as possible. Tensions were running high and the students nearly forgot that it was only a role play! The day ended with an interesting feedback session and the students agreed that this workshop was an invaluable practical experience of what pricing and reimbursement is like in practice.