About Us

Where We Started

MARA Rating Company was established in 2020 by former health-technology assessment reviewers, payer decision-makers, and investment-bank analysts. We observed that even high-profile transactions and launch plans were undermined by untested pricing and reimbursement assumptions.

Leveraging deep experience across HTA bodies (including NICE, ICER, and EU4 counterparts) and global payer systems, we adapted the rigor and systematic methodology of credit ratings to the assessment of pharmaceutical reimbursement risk. The focus is on measurable evidence patterns, not anecdote or opinion.

Why MARA Rating Exists

The MARA Rating® exists to provide a standardized, defensible benchmark of reimbursement risk that can be consistently applied across assets, therapeutic areas, and market contexts. Reimbursement outcomes are often the second gate in commercialization and deal value realization — distinct from regulatory approval. By making payer responses measurable and comparable, our ratings reduce variance and untested assumptions in capital allocation decisions.

Our Principles

Independence
Free from advisory conflicts and post-sale dependencies — our ratings reflect evidence and structured judgment, not client advocacy.
Evidence-Linked
All scores are grounded in public, verifiable evidence and calibrated to historical HTA and payer outcomes.
Standardization Over Subjectivity
We prioritize consistency and comparability; our methodology is designed to minimize interpretive variance across raters and contexts.

Our Clients trust our independent asessments

How Organizations Use MARA Ratings

Organizations rely on MARA Ratings as an independent, standardized reference in decision situations where capital commitment, portfolio prioritization, or launch risk is evaluated against payer evidence.

Fast Signals for Smarter VC Bets

MARA Ratings distill complex payer evidence into a concise, structured signal that aids initial screening in early diligence.

Deal Diligence in Days, Not Months

MARA provides an external, structured benchmark grounded in historical HTA outcomes. It helps validate internal access assumptions and reduces bias in leadership discussions.

Portfolio Benchmarking—At a Glance

MARA’s standardized payer-risk grade integrates directly into our valuation models. It strengthens our ability to defend reimbursement assumptions in transaction discussions.

Objective Validation for Market-Access Plans

The MARA 10-domain score highlights structural reimbursement sensitivities before pricing negotiations begin. It improves preparation ahead of HTA review.

Governance & Calibration

MARA Ratings are governed through a documented committee charter, defined rating actions, and periodic calibration against historical payer decisions. This ensures consistency, comparability, and defensibility over time.