Life Sciences Role in Delivering Value-based Care

Demonstrate Value

"Demonstrate value" is a familiar request for anyone working in the life sciences industry. Historically new treatments have been evaluated in terms of how safe and efficacious they are compared to the standard of care. With the many changes in the healthcare industry, and expedited through healthcare reform efforts, there is a focus on enhancing patient outcomes and decreasing healthcare costs. The industry is struggling to provide adequate solutions.

A recent study by the management consulting firm Oliver Wyman surveyed 200 physicians in value-based delivery models such as accountable care organizations (ACOs). The goal of the study is to understand physician attitudes toward the role life sciences companies have in helping value-based healthcare providers deliver better care at a lower cost. The results found that…

• 61% of respondents said they agreed or strongly agreed that there is a role for branded drug therapies in reducing the overall cost of patient care when used appropriately
• Only 37% agreed or strongly agreed with the statement, “Pharmaceutical companies have the capabilities to reduce the total cost of care and improve patient outcomes.”

Life sciences companies are struggling to understand their role and how to enhance patient outcomes and reduce costs.

Telehealth solutions are customized based on the patient’s health condition to gather patient vital signs and health symptom interview data. This information can be used to demonstrate the value a treatment has on patient outcomes and in reducing healthcare costs. We recently published a white paper on telehealth solutions, and the benefits life science companies can expect from telehealth solutions.

Download the white paper

As a part of the Oliver Wyman study senior executives from ACOs were interviewed. There was a quote from a former CEO of a Medicare Advantage ACO and he said, “Drugs can cost more, but they have to prove real value to the patient in order for payers to agree to pay more.”

Now is the time to act—bold thinking and brave leadership is needed. The need to demonstrate value is not going to fade away, rather it will intensify. Additionally, there are many tools and solutions available to provide payers and healthcare providers with evidence that a treatment positively impacts patient outcomes and decreases healthcare costs.

Read More

White Paper Available! Telehealth Solutions Enhance Health Outcomes and Reduce Healthcare Costs

White paper: Can we enhance health outcomes with telehealth?

There is intense pressure for the life sciences industry to demonstrate that treatments enhance health outcomes and decrease healthcare costs. Life science companies need tools to track patient outcomes, and gather data that demonstrates the impact a treatment has on health outcomes.

Telehealth solutions can be customized to gather patient vital signs and interview data based on the patient’s health condition. This information can be used in many ways to enhance health outcomes and reduce costs.

This white paper provides an overview of what telehealth is, factors driving the healthcare industry to focus on increasing outcomes and reducing costs, how telehealth solutions can enhance health outcomes and reduce costs, benefits life science companies can expect from telehealth solutions, as well as share results from two key studies of telehealth solutions.

If you’d like a copy of the white paper titled “Telehealth Solutions Enhance Health Outcomes and Reduce Healthcare Costs”, please click to request it. I’d love to hear what you think of this latest white paper—is it helpful or not? Also, please share with me areas you’d like to see more information and recommendations on.

Read More

Powerhouse Pharma Panel to Address How Innovation May Enhance Patient Outcomes at the Telehealthcare Leaders Forum

Telehealthcare Innovation Panel Announced

The inaugural Telehealthcare Leaders Forum includes a panel of life science industry leaders that will share their views on new technologies such as telehealth, telecare/PERS, and mhealth, and how these technologies help the industry enhance patient outcomes, manage chronic conditions, improve patient adherence, demonstrate treatment value, and enable data sharing.

Comprehensive Event Info

Register Online or by phone (877) 354-6111

On Wednesday, April 17, Carolyn Buck Luce, retired Market Leader from Ernst & Young, will moderate a panel comprised of...

Lisa Callender oversees strategy and operations for contact centers at Bristol-Myers Squibb. Lisa has extensive expertise in consumer and business marketing operations and strategies including consumer insight and satisfaction.

Lynn O'Connor Vos is Chief Executive Officer and President of Grey Healthcare Group. Lynn is leading efforts to use digital capabilities to transform healthcare marketing to impact outcomes and achieve improvement. She developed text4baby, the country's number one mobile health program.

Vera Rulon is Director, External Medical Communications at Pfizer Medical. Vera managed the Clinical Informatics team at Oxford Health Plans, where she supported building a Special Management Company that created an episode of care reimbursement strategy.

Ceci Zak is the Vice President of Commercial Capabilities at Sanofi. In this role, Ceci oversees a think tank and learning lab for novel business solutions, the digital center of excellence, and commercial training. Prior to this role, Ceci held numerous roles in marketing and sales within the industry.

Read More

Evolving Pharma Sales Models: The Customer is King

How pharmaceutical, biotechnology, and medical device products are sold is changing and it will continue to do so for the foreseeable future. There are many factors driving this change, and two of the most significant are healthcare reform changes and that healthcare providers are demanding meaningful interactions with company representatives. Life science companies are developing new sales models that aren’t solely a “sales pitch”. Rather, the interaction is “customer-centric” and based on meeting the customer’s needs and providing value.

Evolving your sales model to be focused on meeting customer needs is much more than just adapting your sales messages to address the latest concerns heard in the field. This is a fundamental mindset change, and life sciences companies have think about what it is they are offering and delivering. In the future our healthcare system will be focused on patient outcomes and cost. This environment requires the life science industry to provide programs that support treatments to improve patient outcomes, provide value, and decrease costs.

Patient adherence is an important driver in improving patient outcomes and decreasing future healthcare costs, but it is not the only one. In many disease-states and conditions there are health, wellness, and lifestyle factors that contribute to long-term improvement in outcomes and decreases in healthcare expenditures. There is an opportunity, and need, for life sciences companies to partner with patients, providers, and payers to address health, wellness, and lifestyle factors.

There are many programs that can be developed and implemented that will improve patient outcomes. To create meaningful programs patients can “stick to”, think about these areas…

* Understand the barriers patients face in remaining adherent and compliant with therapy.

* Plan programs that support patients on their treatment journey, and help them adhere to treatment.

* Develop patient support programs that are a resource and guide for patients during their treatment journey.

I encourage you to think holistically about the challenges of patients, providers, and payers and design programs to meet these broad needs. As life science companies look to evolve their sales models to meet customers’ needs and provide meaningful interactions, the need for programs that support patients, providers, and payers will increase. Provide solutions, through your product and its related services, to manage or overcome the broad healthcare challenges your customers face.

There are many options for providing programs that enhance patient outcomes. As a pharmaceutical call center, we provide as needed call-in support for patients, caregivers, and healthcare providers to answer questions about a product and its side effects, enroll patients in a support program, connect patients with healthcare providers in their local area, and connect patients with co-pay assistance resources. Our experiences show that within 6 months of implementing a patient support program patient adherence increases 10% to 15%. Patient adherence to treatment decreases future healthcare costs related to treating complications from earlier non-adherence.

There was an interesting article recently published on Pharmaceutical Executive on-line that looks at the evolving nature of pharmaceutical sales forces as they evolve to a more “customer-centric” approach. If you are interested in learning more about one model for moving in this direction you can access the article here.

I’d like to hear from you. Are you adding programs to support patients as a part of your marketing and sales efforts? If you are, what kinds of initiatives and programs are you planning? Please join the conversation and share your thoughts and challenges. We can all learn from each other. Alternatively, if you have specific needs you’d like to discuss with me you can reach me directly at louis.shapiro@tunstallamac.com.

View full blog

View website for Tunstall AMAC Life Sciences  

Read More