Successful life science companies often customize their payer engagement strategies. This method improves payer relationships and may also lead to more innovative and effective therapies.
In fact, a recent survey revealed that 70% of managed care executives recognize that there is value in the early stage collaboration between payers and biopharma companies.
According to a study on innovative payer engagement strategies:
"Pharma companies may benefit by obtaining access to medical and pharmacy claims data, getting invaluable upfront inputs on evidence requirements and clinical trial design, and strengthening trust by payers, therefore avoiding uncertainties with regards to pricing, reimbursement, and research and development reinvestment."
Specifically, here are some of the ways for producers and payers to collaborate:
- Data exchange
- Scientific counseling
- Research collaboration
- Planning ways to reduce healthcare costs
- Addressing adherence issues
- Diminishing risks for future launches
To learn more, view the full study: Innovative Payer Engagement Strategies: Will the Convergence Lead to Better Value Creation in Personalized Medicine?
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