Anyone used conjoint analysis to test pricing for a medical device?

Question

Trying to figure out what hospitals will actually pay for a diagnostic tool vs. what they say in interviews. Wondering if conjoint is worth the complexity here or if there's a simpler approach.

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Elena Petrov · Answer

Conjoint is absolutely worth it here — hospitals are notorious for the say/do gap on pricing, and revealed preference from trade-offs is way more reliable than interviews. We ran a choice-based conjoint for a diagnostic device last year with ~150 procurement/clinical decision-maker respondents and it surfaced a willingness-to-pay ceiling about 30% lower than what interviewees claimed. Sawtooth Software is the go-to for the analysis side if you haven't used it.

Anyone used conjoint analysis to test pricing for a medical device?

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