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Perspectives on Change Management in Pharma

Posted by Matt Breese on Apr 25, 2017

Few industries are facing greater regulatory, political, and public demand for change today than the pharmaceutical industry. Pharma leaders are under immense pressure to decrease prices, increase transparency and demonstrate clinical results. In the case where billions of dollars are at stake, change is extremely difficult to implement. Despite these challenges, pharma managers must be able to spot a need for change within an organization, understand the value of change and execute a transformation strategy.

To remain agile, it is essential for pharma to anticipate and respond to competitive forces, break free of the status quo and stay ahead of the always-evolving payer landscape. Following a change management process helps managers successfully transition both vendors and workflows to break through old patterns. Specifically, market access and data management are top priorities in the industry today. 

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Topics: Industry Trends, Market Access

MMIT Reality Check on Detoxification Agents (Apr 2017)

Posted by Matt Breese on Apr 24, 2017

According to our recent payer coverage analysis for detoxification agents, combined with news from key healthcare influencers, market access is shifting in this drug landscape.

To help make sense of this new research, MMIT's team of experts analyzes the data and summarizes the key findings for you. The following are brief highlights. To read the full piece, including payer coverage, drug competition and prescriber trends, click here.

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Topics: Specialty, Market Access, Branding & Marketing

Trends That Matter for Global Life Sciences

Posted by Matt Breese on Apr 20, 2017

In our weekly Trends that Matter series, we provide engaging infographics from healthcare influencers to highlight general trends affecting the pharmaceutical industry. This week's featured topic is the global life sciences sector. According to 2016 data from Deloitte, the life sciences sector includes a $311 billion biotech market, $1.11 trillion pharma market, $800 billion distributor market, and $369 billion medical technology market. 

The major areas of research in this sector are health, agriculture, medicine, pharma, and food science, which are intended to improve the quality of living globally. In upcoming years, the following factors are expected to drive growth in this sector: 

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Topics: Industry Trends

Perspectives on Pharmacy Benefit Evolution

Posted by Matt Breese on Apr 18, 2017

Pharmacy benefit managers (PBMs) are third-party administrators that process prescription drugs for health insurance plans. Over time, the role of PBMs has expanded into healthcare management. PBMs are gaining greater influence over payer coverage, drug prices, manufacturer rebates, and pharmacy reimbursement policies. 

Historically, the PBM industry dates back to the 1960s, when electronic claims processing gained traction, according to researchers at George Washington University. However, PBMs initally became a powerful force in the 1970s, with the development of the plastic drug benefit identification card. This innovation changed the process for purchasing prescriptions.

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Topics: Industry Trends

MMIT Reality Check on Hepatitis C (Apr 2017)

Posted by Matt Breese on Apr 17, 2017

According to our recent payer coverage analysis for Hepatitis C treatments, combined with news from key healthcare influencers, market access is shifting in this drug landscape.

To help make sense of this new research, MMIT's team of experts analyzes the data and summarizes the key findings for you. The following are brief highlights. To read the full piece, including payer coverage, drug competition and prescriber trends, click here.

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Topics: Specialty, Market Access, Branding & Marketing

Trends That Matter for Alzheimer’s Diagnosis

Posted by Matt Breese on Apr 13, 2017

In our weekly Trends that Matter series, we provide engaging infographics from healthcare influencers to highlight general trends affecting the pharmaceutical industry. This week's featured topic is the diagnosis of Alzheimer's disease.

Alzheimer's disease is the most common cause of dementia and accounts for approximately 60-80% of dimentia cases, according to a 2016 report by the Alzheimer's Association (ALZ). However, Alzheimer's disease often goes undiagnosed by medical professionals. Clinicians can typically identify dementia but have more difficulty determining the cause. 

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Topics: Specialty, Industry Trends

Perspectives on Simplifying Reimbursement Restrictions

Posted by Matt Breese on Apr 11, 2017

In upcoming years, specialty drugs sales are expected to rise, accounting for nearly half of all drug sales in the US, according to HIT Consultant.  Specialty drugs typically require special handling, which makes these medications more expensive than other treatment options. As a result, payers use complex restrictions such as prior authorizations and step therapies (PA/ST) to reduce their costs. HCPs must apply for approval on an individual basis to get coverage for certain specialty drugs.

Pharma marketers can aid in the reimbursement process by reducing confusion around restrictions. Reps that have a comprehensive understanding of their brand’s restrictions can communicate them more clearly to prescribers. This shared understanding increases the likelihood HCPs will write prescriptions for their brand. 

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Topics: Payer, Branding & Marketing

MMIT Reality Check on Narcotic Pain (Apr 2017)

Posted by Matt Breese on Apr 10, 2017

According to our recent payer coverage analysis for narcotic pain treatments, combined with news from key healthcare influencers, market access is shifting in this drug landscape.

To help make sense of this new research, MMIT's team of experts analyzes the data and summarizes the key findings for you. The following are brief highlights. To read the full piece, including payer coverage, drug competition and prescriber trends, click here.

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Topics: Specialty, Market Access, Branding & Marketing

Trends That Matter for Cancer Spending

Posted by Matt Breese on Apr 6, 2017

In our weekly Trends that Matter series, we provide engaging infographics from healthcare influencers to highlight general trends affecting the pharmaceutical industry. This week's featured topic is cancer spending and outcomes.

The Journal of the American Medical Association (JAMA) revealed that cancer treatment expenses, including medical services and drugs, account for approximately 7% of disease-based health expenditures in the US.

In addition, "Cancer medications were among the top three for specialty drug spending in 2015, behind medications for inflammatory conditions and multiple sclerosis," according to the Kaiser Family Foundation (KFF).

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Topics: Specialty, Industry Trends

Perspectives on Preferred and Exclusion Lists

Posted by Matt Breese on Apr 4, 2017

Pharma brand teams that monitor preferred and exclusion list releases have a better understanding of market access. These resources help pharma companies predict performance for their brands and competitive brands. Tracking significant changes in placement on preferred and exclusion lists also helps forecast brand revenue.

Placement on a preferred drug list (PDL) indicates promising market access. According to Allen Christensen, Utah State Senator and former Chair of the Health and Human Services Committee:

“A preferred drug list is a list of drugs that are selected based on results of extensive and recurring medical research that examines effectiveness, safety and cost. Because of the amount of research done, insurance companies use the lists to guide patients to the most effective drug.” 

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Topics: Industry Trends, Branding & Marketing