Transcript

4 Reasons Why Pharma Must Use Digital to Engage Payers

WHY PHARMA MUST USE DIGITAL 4 REASONS TO ENGAGE PAYERS Increasing scrutiny on cost and outcomes is having an unprecedented impact on formulary decisions. As a result, marketers in pharmaceutical companies charged with engaging with payers are under more pressure than ever to stay relevant and influence formulary decision makers. At the same time, payers and other formulary decision makers (FDMS) – just like physicians – are advanced users of the internet and other digital channels for information and service, representing a critical but yet largely untapped opportunity for pharma payer marketers. PAYERS AND FDMS ARE RELIANT ON DIGITAL 1 SOURCES FOR THEIR COMMITTEE WORK AND DECISIONS Payers and FDMS strongly or somewhat agree that they are using digital resources for P&T committee work more than they were a year ago 83% 74% 95% OF HOSPITAL FDMS OF PBM FDMS OF MCO FDMS The average FDM spends almost four times as much time online in a work day as the average physician. THERE IS SIGNIFICANT OPPORTUNITY TO SUPPLEMENT INFREQUENT REP MEETINGS WITH DIGITAL of payers and FDMS are interested in 70%+ email newsletters or alerts from receiving pharma relevant to formulary review. 80% of payers and FDMS are using search engines for committee work weekly. "Digital resources are now a central channel used in formulary decision making within hospitals, managed care organizations and PBMS," said Monique Levy, VP of Research at Manhattan Research. "Payer marketing teams charged with influencing these customers can't afford to drag their feet when it comes to digital investment. Payers are online daily and expect pharma to show up." PHARMA WEBSITES AND APPS ARE CRITICAL TO PAYER DECISION MAKING Payers and FDMS strongly or somewhat agree that the websites and apps pharma provides are essential for their committee member responsibilities 69% 53% 43% OF HOSPITAL FDMS OF PBM FDMS OF MCO FDMS "Payers, like physicians, are very brand oriented and rely heavily on search in seeking information," said Sonu Kori, Healthcare Analyst at Manhattan Research. "So pharmas have to invest in brand.com payer resources and have content for those visitors there. But don't think that if you build it they will come. Focus as much on acquiring visitors as on the destination itself, as brands that have been successful in digital have done." Payers and FDMS are visiting pharma websites weekly or more for their committee responsibilities 58% 32% 68% OF HOSPITAL FDMS OF PBM FDMS OF MCO FDMS 4 OUTCOMES-FOCUSED PATIENT SUPPORT CAN MOVE THE NEEDLE Top therapeutic areas that payers and FDMS say pharma patient support and resources would most likely have a positive impact on a drug's formulary placement Diabetes Cardiovascular Disorders Cancer 53%. of hospital FDMS say when comparing two drugs with similar clinical outcomes and cost profiles, they would strongly favor the drug that has pharma provided patient support and resources proven to drive patient adherence. * Among those who say pharma provides patient support and/or provision would impact formulary placement. Payers and FDMS agree they need clinical trial data or significant evidence showing improvement in patient outcomes in order to adopt patient support and services from pharma 66% 58% 53% OF HOSPITAL FDMS OF PBM FDMS OF MCO FDMS * Among those who say pharma provides patient support and/or provision would impact formulary placement "Everyone understands that solutions which keep patients engaged are a good thing," said Monique Levy, VP of Research at Manhattan Research, "What some stakeholders underestimate is the rigor required to design, test and implement these patient support solutions." Taking the Pulse® Formulary Decision Makers 2014 is a Manhattan Research study and strategic advisory service based on in-depth, proprietary survey of more than 200 formulary decision makers in March/April 2014. The study is focused on understanding how payers and FDMS use technology, various information sources and pharma digital content and services for professional purposes, with the objective of helping pharma companies develop payer marketing strategies that work in a digital world. For more information about the study and to learn how to gain access to insights into digital engagement for payers and other formulary decision makers, please visit www.manhattanresearch.com/fdm or contact solutions@manhattanresearch.com. rDecision Resources Groupj manhattan RESEARCH `...---

4 Reasons Why Pharma Must Use Digital to Engage Payers

shared by visually on Jul 17
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We want to raise awareness of this new study and advisory service (very niche crowd of potential purchasers), and provide a reason to buy (prove that digital is critical to engaging payers, and that t...

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