Managed Markets Groups Maximize Payer Presentations with Clear, Unbiased Data and Structured Narratives
Pharmaceutical reimbursement efforts improve when drug companies can develop strong narratives for their presentations to payers, according to a recent study by Cutting Edge Information.
The study, “US Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement,” found that in the most effective reimbursement discussions, account managers present unbiased and thorough clinical data so that payers can fairly assess the drug's benefits.
Managed markets executives find that consistently gaining audiences with payers is a challenge. Many drug companies approach US payers to discuss their products. Payers are pressed for time, and product account managers must be able to maximize every meeting opportunity.
“The account manager must walk into the payer meeting with a story,” said Michelle Vitko, research analyst at Cutting Edge Information. “He needs a message that will hook the payer representative, a message that will tell the payer representative what she needs to hear: how will Product X save my company money and provide better care for the patients it covers? Anything else may detract from the message's impact.”
Managed markets groups should be very careful of exactly what information they present to payers. Account managers should always have enough clinical data to support the product's advantages, even in cases where they are asking for a low price. Often, pharmacoeconomics data, medical education, outcomes research or other tools aid payers in making decisions. Valuable presentations may also decrease the difficulty of gaining future audiences with payers.
“US Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement” (http://www.cuttingedgeinfo.com/research/market-access/strengthen-payer-relationships/) examines managed markets groups in the US, including their staffing, budgets and return-on-investment metrics. The study helps companies:
• Start reimbursement planning as early as possible to give all stakeholders time to contribute evidence payers' needed
• Incorporate payer feedback into product development and reimbursement strategy
• Look beyond reimbursement to defend and improve formulary positioning
For more information about managed markets and market access benchmarking, contact Elio Evangelista at 919-403-6583.
Cutting Edge Information
Elio Evangelista, 919-403-6583