*Updated on July 21, 2016
Patient centricity is more than just a new catchphrase. It is a mission statement that needs to be upheld by today’s pharmaceutical companies.
Healthcare is becoming patient-centric. Pharma and life science industries must respond to this change and become value drivers for patient-centricity throughout their operations. This creates an opportunity to reinvent the pharma sales process, transforming the healthcare experience and improving the lives of millions of patients.
The new market environment requires high levels of collaboration between pharma sales reps (PSRs), healthcare providers (HCPs), and patients. They must work together to achieve their common goal.
This article (and this infographic) will discuss how patient centricity is reinventing the pharma sales process. What is driving this change? How can we become patient-centric? What are the outcome-based solutions? And how can we measure return on investment from these activities?
Today’s Talk
- What is driving the change for patient-centricity?
- How can the industry be patient centric?
- What are the outcome-based solutions?
- How can we measure ROI from these activities? *UPDATED*
What is driving this change?
Powerful trends in the healthcare industry, such as aging populations and the increase of chronic diseases, are placing strains on the system and the traditional pharma sales process. Payers and policy makers are seeking new ways to control costs (Source: Heidrick & Struggles, 2014).
Patient expectations are changing as well. Today we live in a world focused on consumer needs, often referred to as the demand generation. The customer experience in many industries has drastically improved with the help of digital technologies and social media. For example, customers can buy clothes online, order food through apps, and communicate directly with companies through social media. However, pharma is lagging behind in this regard.
Traditionally patients have had a limited understanding of the healthcare choices offered in the market, and were reliant on their HCPs to tell them what was available. However, patients are becoming more aware and knowledgeable about their healthcare options through social media and online sources (Source: PMLive, 2015). They are increasing their involvement and changing the dynamic between patients and doctors. Pharma must recognize and act on the idea that patients are now the consumers who make decisions about their own healthcare.
It is dangerous for the pharma industry to maintain the status quo and not move forward with a new sales process.
(Stat source: Pharma Voice, 2015)
How can we become patient-centric?
Achieving patient-centricity starts with patients, not products. This transition will be far from easy; it requires changes in strategy, structure, and culture. In order for this transition to be successful, the habits, attitudes, values, and beliefs, of a typical pharma company must be adjusted to reflect the new business model.
A patient-centric sales process requires a deep understanding of the patient journey. In our previous article (Part 1: Healthcare Providers want Authenticity from Pharma) we explained why PSRs need to stop focusing on generalized medical conditions and instead begin to think about patients on an individual level. This means moving beyond simple generic categorizations of gender, and socioeconomics, and age; and instead concentrating on understanding underlying patient behaviour factors such as a person’s needs, beliefs, behaviours, and perceptions of illness (Source: Pharma Voice, 2015).
Mapping the patient journey creates insights into where pharma can make additional interventions for patients and showcases new opportunities. By co-creating with patients, pharma can move forward with valuable ideas and commercial rewards will naturally follow (Source: Eye for Pharma, 2016).
For example, after completing patient research AstraZeneca (a research-based biopharmaceutical company) created LVNG With. An online site dedicated to creating a community for lung cancer patients where they can share their emotional journeys and everyday experiences.
Collaboration across stakeholders is also vital to the success of a patient-centric sales process. HCPs must work with PSRs to enhance communications with patients; providing feedback, advice, and solutions that can be used to develop services and programs that resonate with patients (Source: Pharma Voice, 2015).
What outcome-based solutions should pharma be focusing on?
Pharma must now focus on solutions that create better patient outcomes, otherwise known as outcome-based solutions.
When pharma companies invest in research for new drugs, devices, and technology, patients and doctors will receive the greatest satisfaction. New generations of drugs can change the course and prognosis for many diseases.
This innovative research - that doctors want pharma to focus on - includes,
- phase 4 studies (clinical trials that evaluate the long-term effects of new drugs and treatments post-FDA approval);
- combining multiple drugs into simple pills;
- tolerance levels;
- antibiotic development; and
- treatments for rare diseases
(Source: Accord Clinical Research)
New drug solutions should make use of end-to-end (E2E) evidence, as this transcends the silo of the traditional value chain. E2E evidence includes information about product efficacy, safety, economic value, and patient outcomes. Having an effective E2E strategy can help pharma companies be more competitive by being ‘first-to-market’, speeding-up product approvals and prescriptions, as well as contributing greater ROI through positive health outcomes (Source: Pharma Exec, 2016).
Outcome-based programs are most efficient when they are co-created with patients. For example, Novartis (a Canadian based healthcare company), hosts an annual summit called ‘Power of Partnering’, which brings together approximately 200 non-profit leaders from community organizations and patient advocacy groups. Many innovative educational support programs for patients have been created as a direct result of the valuable insights gathered from these summits (Source: Dr. Cathryn Clary, 2015).
Pharma companies must leverage their rich and diverse resources, content, and data to collaborate with HCPs. PSRs remain a vital and indispensable route for providing information. Pharma can utilize this communication channel to educate patients and HCPs, alike. PSRs in charge of accounts serve as essential support and education networks.
PSRs should be using a pharma sales enablement platform. This system allows users to control their sales content with an easy-to-use management system, including playlists and folder organization options, which will improve the efficiency of the sales process. Sales enablement solutions are designed for optimal user experience, allowing any content type to be displayed on any device, online or offline, with no downloads or additional programs required.
Sales enablement is a secure and private system where PSRs can conveniently share important and valuable information with any of their contacts. System analytics track content engagement - providing users with real-time insights into their customer’s behaviours and creating an opportunity for pharma sales and marketing teams to adjust their digital content and improve the sales process.
How can we measure ROI from patient centricity?
The life science industry must embrace the patient-centric movement, and understand that their financial incentives are now linked to patient outcomes and the value delivered to HCPs. In fact, many governments and payers are insisting on reward-for-outcomes (Source, Heidrick & Struggles, 2014).
Under the outcome-based reimbursement model, pharma companies will be rewarded based proven results for individual patients. Companies will no longer market to volume and instead will focus their work on preventive care. Encouraging them to optimize productivity and maximize potential benefits throughout the system (Source: PA Consulting).
“…There is an emerging rationale for moving from an input-based approach - the number of patients seen or drugs and devices sold - to an output-based approach - patients' best health outcomes” – Jeff Elton (Managing Director of Strategy Life Sciences, at Accenture).
By involving patients, and listening to their input, pharma companies will succeed long-term. Their return on investment will come from the loyalty that patients demonstrate.
If pharma demonstrates that they are truly working hard to improve the lives of patients, their customers will become brand advocates.
*UPDATE - A recent global survey and analysis of 2,346 pharma industry respondents from 84 countries revealed key insights into the trend of patient-centric business models.
With 93% of respondents stating that the integration of a patient-centric strategy has improved overall business outcomes. Increasing:
- Employee engagement (58%)
- Patient trust (56%)
- Revenues (40%)
- HCP trust (58%)
- Stakeholder engagement (56%)
- Payers and government trust (37%)
- Employee attraction/retention (36%)
(Source: Eye for Pharma, 2016).
Although these results will not happen overnight, this is further proof that patient-centricity does lead to profitability in the long run. 79% of respondents believe that it’ll result in a win-win-win situation for patients, HCPs, and pharma (Source: Eye for Pharma, 2016).
Going Forward
Pharma companies must evolve. If they remain static and do not adjust their business models to communicate with empowered buyers, improve information channels, and focus on patient outcomes above all else - they will limit their business. Patient centricity is the future of pharma.
As we mentioned earlier a pharma sales enablement solution can support and add value to the pharma sales process. If you’re interested in learning more about this solution request a demo and let our sales specialists show you just how easy pharma sales can be.
