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Radar On Market Access: Changes to Medicare Part D Coverage Gap

Posted by Matt Breese on Mar 22, 2018

The Bipartisan Budget Act of 2018, passed Feb. 9, could make some pharmaceutical companies take a multibillion dollar hit, industry experts told AIS Health.
 
The legislation closes the Part D coverage gap discount program in 2019 as opposed to 2020. It reduces beneficiaries’ coinsurance while they are in the so-called donut hole from 30% to 25% next year and increases brand-name manufacturers’ discounts provided to patients from 50% to 70%. 
 
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Topics: Industry Trends, Provider, Payer

Perspectives on R&D Budgets

Posted by Matt Breese on Jan 30, 2018

 
To boost innovation and meet public expectations, pharmaceutical and biotechnology industry need to increase collaboration in drug development, says Steve Arlington, president of the Pistoia Alliance. He called collaboration “the only truly viable model,” as developing a new drug normally takes 12 to 15 years at an estimated $2.7 billion cost .
 
Innovation requires work from multi-disciplinary teams of multiple entities and different geographies. Collaboration will not only accelerate drug discovery, but also make R&D budget go further — and help prove the value of newly approved drugs to payers once they come to market. 
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Topics: Industry Trends, Product Release, Provider

Perspectives on Payer Priorities in 2018

Posted by Matt Breese on Jan 23, 2018

 
The past year has been eventful for payers and payer organizations. Looking ahead to 2018, Thomas Beaton, editor at HealthPayer Intelligence, wrote:
 
"2018 is a year in which payers are likely to implement strategies aimed at improving growth in Medicare Advantage markets, increasing the use of the social determinants of health to improve outcomes, and expanding member engagement with health plans."
 
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Topics: Industry Trends, Provider, Payer

Trends That Matter for Physician Engagement

Posted by Matt Breese on Feb 16, 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 physician engagement.

Non-personal promotion strategies are becoming increasingly important for brand marketers communicate with physicians. 

Social media marketing is one effective strategy to encourage physician engagement. According to Deloitte:

"52% of physicians surveyed expressed interested in interacting with pharmaceutical companies via social channels for practice-related purposes."

In addition, physicians are actively seeking clinical data insights from pharma sources. In fact, Deloitte revealed, "65% of physicians surveyed indicate interest in engaging with pharma over social media for clinical data." It is essential for pharmaceutical companies to establish a social media presence.

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Topics: Industry Trends, Provider

Trends that Matter for Healthcare Leaders

Posted by Matt Breese on Dec 1, 2016

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 healthcare trend is leadership. As the healthcare industry adopts value-based care models, clinicians are taking on more leadership roles. Successful hospital leaders often have both clinical experience and business expertise. Healthcare organizations can build stronger teams by training individuals with clinical backgrounds in leadership and management.

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Topics: Industry Trends, Provider

Perspectives on Provider Data Consistency

Posted by Matt Breese on Nov 22, 2016

Given the complexity of the healthcare industry, there are thousands of different data sources. When meeting with HCPs, pharma reps need to ensure that they make the most out of limited face time. Consistent data can help drive credibility and trust between pharma reps and providers. Pharma marketers need to deliver accurate data points and promotional pieces that align with what a provider sees in their daily workflow applications.

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Topics: Data & Analytics, Provider

Perspectives on Payer Contracting

Posted by Matt Breese on Oct 18, 2016

Pharmaceutical manufacturers face several ongoing challenges when deciding if they should contract for access, selecting geographies, and partnering with PBMs and payers. While contracting doesn’t apply to all therapeutic areas, geographies or payers, it can be highly effective in certain situations. Manufacturers need access to accurate data to manage risk and assess contract opportunities.

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Topics: Market Access, Provider, Branding & Marketing

Trends that Matter for Non Personal Promotion

Posted by Matt Breese on Oct 13, 2016

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 top pharma trend is nonpersonal promotion.

As the pharma marketing industry becomes more highly regulated, healthcare companies are seeking new strategies for communicating with physicians, providers, and patients. According to Fierce Pharma, more than 50% of physician practices today are restricting the access of pharmaceutical reps.

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Topics: Industry Trends, Provider, Branding & Marketing

Perspectives on Omnichannel Promotion

Posted by Matt Breese on Oct 11, 2016

The evolution of digital technologies creates a new sandbox for healthcare marketers. New tools, processes and frameworks offer companies a variety of options when it comes to promoting their brand or solutions across multiple channels. Even the highly regulated healthcare industry demonstrates adoption of these new technologies in the form of wearable devices, telemedicine, and mobile apps. The modern consumer and provider demand a unified experience across their preferred digital and physical channels.

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Topics: Provider, Branding & Marketing

Perspectives on Value-Based Care Shift

Posted by Matt Breese on Oct 4, 2016

Hospitals and individual medical practices are quickly learning that the old standard of being paid for the volume of healthcare services they provide is being replaced by a value-based model.

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Topics: Industry Trends, Provider