Publication Date: May 2014
Top Reasons to Buy This Managed Markets Account Manager Report
Improve Payer Meeting Outcomes: Successful meetings between payers and account managers are often the deciding factor in earning formulary status for a product. This report outlines a “game plan” to prepare for and enter payer meetings. It details the types of meetings account managers have with payers, as well as their frequency and duration. The payer’s contact person will often affect the type of message that account managers present. Companies must plan ahead to tailor each meeting to their clients’ priorities. Above all, the best practices and insights contained in the study show how account managers focus on the depth of content in each meeting so that they offer robust data and instill payer confidence.
Establish a Surefire Approach to Building Payer Relationships: Personalized presentations are the single-most successful method to building strong payer relationships. Account managers who can first identify and then address individual payer needs will show their clients that they understand the payer’s interests and priorities. This report includes benchmarks on when managed markets account managers should begin to talk to payers about new products. It also explores best practices that managed markets account managers employ to unify outbound messages to key customer groups.
Support Account Managers with Scientific Expertise:The research conducted for this study found that 71% of companies support their managed markets account managers with field-based liaison teams. In many cases, companies also employ health outcomes liaisons or managed care liaisons to provide scientific support to the value dossier presentation. This study illustrates the value of incorporating MSLs and other scientific experts to support account managers and even present scientific data directly to payers.
Excerpt from Managed Market Account Managers
In response to payers’ increased pressure on pharmaceutical and medical device prices, the pharma industry is spending more money on comparative effectiveness research (CER) and health economics studies. Pharma is leveraging this research to bolster the value proposition for new drugs and therapies. However, simply developing these materials is not enough. An effective and efficient infrastructure also needs to be in place to convey this information to payers.
Successful managed markets groups work closely with other internal groups —
including clinical, market access and medical affairs. This collaboration serves to ensure that a consistent message, one that justifies current prices and presents new products’ value to payers, is coming from the company. A key component of developing and delivering this message is the account managers who face payers and hospitals to make the proposition directly to formulary managers. As one interviewed managed markets director described his role, “We protect profitability. Sales teams have to generate the orders. I make sure we sell the product at a price that is profitable.”