In recent years, we’ve seen the emergence of new strategies to improve engagement with payers. It’s a sign of the rising importance of market access in the pharmaceutical industry.
It used to be that medical affairs and market access teams were required to show the safety and clinical efficacy of a new product. But payers are increasingly asking for evidence of value for money as well - a change that has partly coincided with the global recession of 2007.
One method that’s been attempted by market access teams at leading life science companies is to take into account the combined value of adopting multiple brands. This way, key account managers can discuss with payers the economic benefits of adopting different brands in order to demonstrate a more attractive value proposition.
As competition from generics increases, bundling different brands together in a single presentation could be an effective way to improve the value story, but it may not be appropriate for all clients.
The flexibility of our platform offers market access teams the option to tailor the value story to each customer. One way this can be achieved is that market access managers can prepare a range of attractive pathways, allowing key account managers to select the most appropriate narrative to follow for each client.
This mini-example demonstrates one simple way that market access teams can introduce brands from across the portfolio to add value to their narrative.