How can pharma leaders improve their approach to market access analysis, planning and execution? Pharma teams must keep a close eye on the market for competitive threats and economic shifts. Identifying friction in the current process of communicating market access, policy and restriction information often creates the initial momentum for a change.
However, when many brand teams look internally or to their existing partners for a solution, they find that there is a disconnect between current capabilities and the actual business need.
Here are some common warning signs that a market access solution or vendor change is necessary:
- Technology is outdated or too complicated
- Many vendors and tools are accumulating
- Vendor costs are spiraling over time
- There is a lack of a company vision
Consolidating vendors and tools can reduce costs, streamline data sources, focus internal resources and improve workflow efficiencies. However, due to the regular restructuring and transformation in the healthcare industry, pharma managers must be careful to avoid creating change fatigue.
According to McKinsey & Company, it is essential for managers to communicate the purpose and meaning behind major alterations to their employees.
Download MMIT's case study on change management to learn more best practices for identifying and overcoming market access challenges.