RESEARCH TRIANGLE PARK, N.C.--()--When seeking pharmaceutical reimbursement, it is vital that pharmaceutical companies interact with payers whenever possible. Payers are most interested in decreasing drug prices, which is what pharmaceutical companies most want to avoid. Regular discussions about how to accommodate payers’ needs on other aspects help drive successful reimbursement efforts, according to a recent study by business intelligence firm Cutting Edge Information.
“While discussions with payers can provide insight on everything from achieving the desired endpoints to crafting more effective pharmacoeconomic arguments, gaining an audience with payers is not easy”
The study, “US Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement,” examines the challenges facing managed markets teams. Surveyed managed markets executives rated gaining an audience with payers as one of their most difficult tasks.
“While discussions with payers can provide insight on everything from achieving the desired endpoints to crafting more effective pharmacoeconomic arguments, gaining an audience with payers is not easy,” explains Michelle Vitko, senior research analyst at Cutting Edge Information. “This challenge is especially true of small companies, which have only a few products that often represent an extremely small percentage of a payer’s expenditures.”
On average, executives rated meeting with payers as 7.8 out of 10, with 10 being most challenging task. The only tasks that surveyed managed market executives ranked more difficult were meeting payer demands and incorporating health economics and outcomes research (HEOR) data in health technology assessments (HTAs), which received an average rating of 8.1 and 8.0 respectively.
“US Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement” (http://www.cuttingedgeinfo.com/research/market-access/strengthen-payer-relationships/) explores US managed markets team benchmarks, including budget and staffing metrics, as well as return-on-investment (ROI) measures. The study helps companies:
- Anticipate and meet payer demands.
- Position account managers to meet with payers.
- Manage pricing pressures and the narrowing gap between the US and European reimbursement.
- Manage reimbursement as an ongoing process to adjust to shifting competitive pressures.
- Coordinate managed markets teams, marketing and other groups.
For more information about managed markets and pharmaceutical market access, contact Elio Evangelista at 919-403-6583.