Pharmaceutical companies rely heavily on launch sequencing committees to maximize revenues throughout the product lifecycle. These committees can prove invaluable in ensuring price maximization by carefully considering cross-market price referencing and strategically crafting timelines for launch.
Comparative effectiveness research (CER) is one of the most exciting types of research for a life science company. The reason for this is CER’s high risk and high reward value proposition. Should a CER study demonstrate that the company’s product is superior to a market competitor, the company can use those data to earn favorable reimbursement and impress physicians who may waver between which product to prescribe. But, should the CER study demonstrate that the competing product is superior — well, let’s not talk about that. CER can be so risky that some companies refuse to fund investigator-initiated trials (IITs) that are comparative studies. As for company-run trials, teams may prefer to dedicate resources to database studies than spend oodles of money conducting trials that may backfire. Continue reading
10th October to 11th October 2016,
London, United Kingdom
SMi Group’s 22nd annual European Pharmaceutical Market Access, Pricing and Reimbursement conference returns to London from 10-11 October 2016. The conference is one of the most established in the world, focusing on the changes in pricing and reimbursement and market access.
Pharma key account management (KAM) teams focus on strengthening relationships with existing client accounts and forging new ones. As an example, these teams may reach out to hospital systems to determine which products these organizations use (or would be interested in trying). Some life science teams designate specific KAM groups to handle commercial and market access account types. Others make no distinction across the different audiences that dedicated KAM teams may serve.
Patient centered outcomes, including patient-reported outcomes (PROs), may be as generic or disease area-specific as the PRO team would like. As with any choice, however, there many factors to consider when deciding what type of patient centered outcomes instrument to use. For instance, teams that custom-design specific PRO tools may have very targeted and relevant data for their products. Continue reading
As pharmaceutical companies continue to work to prove the value of their products to payers around the world, they are encountering health technology assessments (HTAs) in many markets around the world. These HTAs require companies to submit value dossiers that follow specific guidelines — often including health economics and comparative effectiveness work. Our research has shown that different HTAs consume varying amounts of raw resources in terms of working hours and budgetary expenditure. However, most companies’ proportions of timing and spending following similar patterns across regions and company types. Continue reading
As any product launch approaches, market access teams are typically hard at work developing key value messages around the world. How this market access launch planning process unfolds, however, can vary across different companies. Market access teams within some companies are largely fragmented and operate in relative autonomy. Other companies take a highly centralized approach to planning market access from a global level. Continue reading
The role of pharma key account management (KAM) is growing. Throughout the life sciences industry, KAMs act as the voice of the company for major commercial accounts – including physician networks, hospital systems and even payer organizations. Because a large part of the key account management team role is working directly with these accounts, KAMs may also need to coordinate their visits and discussion topics with other outward-facing teams across the organizations. In fact, many companies would prefer that KAMs act in a strategic role to shape the organization’s account communication. Continue reading
Pharmaceutical companies have traditionally excelled when focusing on a specific product for a specific usage. This meant developing a safe and effective drug and making sure that providers and payers were aware of how well the drug worked. More recently this focus been further broadened, as manufacturers began to consider entire treatment pathways and understand how their product fit into the financial sphere of payers and patients. In some cases, a company may look to the pharmaceutical key account manager to bring this information to external stakeholders. However, population health management (PHM) takes this one step further and requires a truly holistic view of the healthcare marketplace. Continue reading
It’s January, so right now it feels like everyone around us has made resolutions to get more exercise, eat better, or otherwise improve their lives. In that spirit, let’s take a look at what companies can do to improve their payer relationships in 2016. According to The Wall Street Journal, drug prices are on the rise, so the value propositions of health economics groups will be increasingly important when working with payers. Continue reading