There are a number of reasons for pharma companies to be very interested in retaining control over the kinds of messages that are sent out to payers and healthcare providers in various markets.
A well managed market access and marketing strategy can create a competitive advantage. On the other hand, failure to control the message can increase liability and leave a company more open to warnings and legal claims.
The benefits of control
The cost of sales and marketing rivals that of research and development. With such a large investment, even a small change in efficiency can generate a massive impact on budgets.
Taking a drug into a highly fragmented and international market can be very expensive. With every local affiliate developing their own market access and marketing strategies, a large amount of duplication takes place. This is due to the fact that, while languages and market conditions vary, the core value story of the product remains the same.
A dedicated platform for key account management can help pharma companies retain control over the materials that are used in market access, maintaining brand and message consistency. It can also help avoid the duplication of efforts across countries that leads to wasted resources.
The cost of losing control
Every conversation between a key account manager or market access executive and a payer or healthcare provider is potentially the source of miscommunication. The costs of distributing false information, whether intentionally or not, are great: in 2001-10, pharma companies accounted for about 25% of all claims settled under the False Claims Act in the US. In a challenging economic environment, the high costs of compliance can damage a company’s competitiveness.
The importance of managing and overseeing information flow in the area of market access, HEOR and marketing has never been so great. One problem is the tools that are used to distribute information. A typical meeting with a healthcare provider or payer is based on a spreadsheet that can be manipulated at will by the end-user. Additionally, HQ possesses only a limited ability to control the content of the meeting and the exchange of information that takes place.
This is where a dedicated market access and value communication platform can help limit pharmaceutical companies’ exposure. Access to spreadsheet-based HEOR data can be restricted to qualified HEOR experts at headquarters. Country-level market access managers will tailor the message to the audience, but HQ can see what they change, and ensure that the fundamentals are approved for release. With greater reassurance that the kinds of messages taken to payers and providers are being properly controlled, the associated compliance costs can come down.
Related: Keeping Intellectual Property Safe