Cutting Edge Information study finds that cross-communication between internal teams, especially with managed market groups, increases product reimbursement
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- US managed markets teams benefit greatly by having clear communication lines with pharmaceutical marketing and clinical development teams, according to a recent study by Cutting Edge Information.
The study, “US Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement,” explored managed market groups’ responsibility of securing successful product reimbursement. This study found that the most successful managed market teams maintained strong reporting relationships and communication lines with the teams that make critical decisions.
Marketing teams provide US managed markets teams with products’ sales metrics, competitive intelligence and perspective on a brand’s formulary placement. Clinical development teams use their trial data and health outcomes research to help managed markets teams make a best case for a product’s benefits.
“Strong lines of communication allow other internal teams to set their goals with input from the managed markets group,” explains Michelle Vitko, research analyst at Cutting Edge Information. “Pharmaceutical brand teams often set their goals based upon the level of market access likely to been gained by managed market teams in the coming years.”
According to Cutting Edge Information’s study, communicating with payers throughout drug development is one of the pharmaceutical industry’s top challenges. Companies should ease efforts to communicate valuable information between commercial, clinical and managed markets teams. Companies that keep managed markets teams far apart from clinical and commercial teams in the organizational structure limit their market access teams from incorporating key information into their presentations to payers.
“US Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement” (http://www.cuttingedgeinfo.com/research/market-access/strengthen-payer-relationships/) explores US managed markets groups’ operations, highlighting budget and staffing benchmarks, ROI metrics and group challenges. The study helps companies:
- Build a high-level strategic game plan for US payers and managed markets.
- Coordinate departments and teams to support the overarching market access strategy.
- Build and maintain strong payer relationships.
- Highlight reimbursement as an ongoing process to manage shifting competitive pressures.
For more information about US managed markets and market access benchmarking, contact Elio Evangelista at 919-403-6583.
Cutting Edge Information
Elio Evangelista, 919-403-6583
Source: Cutting Edge Information