Pharma’s approach to market access facing digital disruption, study finds

October 10, 2017

New DRG Digital - Manhattan Research study finds that pharma’s traditional approach to payer marketing does not match the digital-first behaviors and expectations of today’s payers

 

BURLINGTON, Mass., October 10 – The pharmaceutical industry’s traditional approach to market access is failing to meet the information needs of formulary decision makers heavily reliant on digital sources, a new study from DRG Digital - Manhattan Research has found.

The Multichannel Payer Marketing study of 189 U.S. P&T committee members making formulary decisions at hospitals, IDNs, PBMs, MCOs and ACOs, found that on average, these key professionals spend upwards of 3 hours per day using digital resources to inform their committee work. That’s more than double the amount of time they spend with offline resources, such as company representatives and printed materials, and 4 in 5 say they prefer using digital sources of information to offline ones when making decisions about formulary placement.

Payers’ reliance on online resources underscores a need for greater and more sophisticated outreach to payers online, while the dearth of digital efforts targeting these stakeholders poses opportunities for digitally-savvy pharmas to get a jump on the competition, by offering:

 

Digital assets tailored to payers’ information needs

  • The study spotlighted a need for pharma payer resources that are findable and on-target. 44% of P&T committee members said they would use pharma digital resources more frequently if pharmas made it easier to find content dedicated to formulary decision makers (as did 53% of those at ACO member organizations).
  • Content needs may vary by payer type. For example, 2 in 3 of those (65%) at Integrated Delivery Networks associated with health plans want to access trend reports for a disease area on pharma websites, while half of those from IDNs without a health plan are interested in accessing interactive budget modeling features from pharma online.

 

Data-driven partnerships and “beyond the pill” solutions

  • Delivering beyond the pill value-adds that help payers meet qualitative goals can help move the needle. 74% of all P&T committee members surveyed are interested in working with pharma on patient-centered digital tools that reduce readmissions, and 66% on pill-plus tools to improve adherence.
  • Big data, big opportunity. 47% would be interested in working with pharma on partnerships to facilitate data collection (e.g., via remote monitoring).

 

Omnichannel engagement with pharma reps

  • Punch up account manager presentations with digital content that pulls them in - 52% of P&T committee members agree that interactive content makes meetings with pharma account managers more valuable.
  • Close the loop with these customers through digital follow-through. 56% would like pharma account managers to give them a means of asking follow-up questions remotely.

 

P&T committee members rate pharma apps and websites for payers and healthcare professionals as being as influential on their formulary decisions as in-person meetings with pharma representatives, the study found, underscoring the importance of a more balanced approach to payer marketing.

“Pharma has made great strides in addressing this crucial audience in recent years,” said DRG Digital Principal Analyst Matthew Arnold, “but a robust multichannel approach to payer engagement is needed. P&T committee members are doing the bulk of their committee work online, and there’s a real opportunity for pharmas that can provide them the resources they need there. Pharmas that fail to get in their workflow stand to see their brands lose ground when it comes to formulary placement.” 

“Payers are extremely difficult to reach and pressed for time,” said DRG Digital Senior Analyst Heather Figlar. “With payer organizations under intense pressure to control costs and deliver better quality care, the stakes have never been higher for pharma. Understanding the content preferences of formulary decision makers, and where they’re looking for information, can really give pharmas a leg up at that pivotal juncture.”  

 

 

Learn how to plan more effective payer marketing and engagement

The Multichannel Payer Marketing study provides you the data and expertise to focus your planning on the most effective channels, content and tactics:

  • Multichannel payer engagement: How and where you should engage payers online and offline
  • Content planning: What content payers want from pharma and how it influences decisions
  • High-touch account management: Increasing account manager effectiveness with the right resources and supplementing meetings with digital touch points
  • Beyond the pill innovation: Impact of beyond-the-pill value-adds and pharma-payer partnerships on formulary decisions

Audiences covered include: P&T committee members at hospitals, IDNs, PBMs, MCOs and ACOs

 

View our multichannel payer marketing infographic with more study highlights and trends.

 

Set up time to view sample slides and discuss the study:

 

 

About DRG Digital | Manhattan Research

DRG Digital, a part of DRG, is the life science industry's partner for data-driven customer engagement and commercial innovation. DRG Digital's Manhattan Research studies have been the industry's go-to source for physician, patient and payer multichannel planning for more than 15 years. Brands, marketers and digital teams at 40+ leading life sciences companies rely on our experts, research and analytics to understand their customers and engage them with the right channels, content and messaging.

 

Visit www.DRGDigital.com or follow @DRGDigital to keep up to date on our analysts' thinking and access eBooks, infographics, webinars and other resources.

 

 

About Decision Resources Group

DRG, a subsidiary of Piramal Enterprises Ltd., is the premier source for global healthcare data and market intelligence. A trusted partner for over 20 years, DRG helps companies competing in the global healthcare industry make informed business decisions. Organizations committed to developing and delivering life-changing therapies to patients rely on DRG's in-house team of expert healthcare analysts, data scientists, and consultants for critical guidance. DRG products and services, built on extensive data assets and delivered by experts, empower organizations to succeed in complex healthcare markets.

 

To learn more, visit www.decisionresourcesgroup.com.

 

 

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

 

 

For more information, contact:

Maureen Malloy

(610) 724-2589

mmalloy@teamdrg.com

 

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