Non-members: Click here to review a complimentary excerpt from "Effective Market Research Activities to Maximize Managed Markets Access & Insights"
The payer sector continues to play a pivotal role in how patients access pharmaceutical products. It is estimated that some 80 percent of patient access to prescription drugs in the United States is controlled by the managed markets sector. Thus it is imperative for pharmaceutical and biotechnology organizations to have effective market research activities in place to gain the insights needed to assure successful relationships with the managed markets sector.
Best Practices, LLC performed this reseach to identify the key market research activities, the best approaches for hard-to-reach payers, and the timing of key market research activities regarding payers. The study also captures executives’ best practices and lessons learned for addressing and acting upon the needs of third-party commercial and government payers.
- Executive Summary
- Activities with High Decision Impact
- Best Approaches for Insights from Overall MM Sector
- Best Approached to Hard-to-Reach Payers: Access & Insights
- Viewpints on High-Rated Approaches
- Timing of Key Activities
- Best Practices, Pitfalls and Success Factors
SAMPLE KEY METRICS
- Activities that have Greatest Strategic Impact
- Activities for Best Insights into Overall MM Sector
- Activities Most Effective for Gaining Access to hard-to-reach Managed Markets Partners
- Activities Most Effective for Gaining Insights about hard-to-reach MM Partners
- Timing During Development Cycle of Key Market Research Activities for Managed Markets Sector
- Market Research Focus Changes in Managed Markets
- Rating of Objectives Important to Managed Markets research prior to launch
SAMPLE KEY FINDING
- Key Sources for Developing MM Insights: Advisory boards and account managers (setting up team meetings) are the most effective MM activities and yield the best insights. However, interviewed partners find that it is increasingly difficult to get the right people on the boards. As a result, some companies are moving away from advisory boards or working to develop new approaches to filling such boards. Advisory boards become most effective when innovative approaches are applied to engage diverse payer viewpoints instead of re-using the same small group of traditional payer participants.
The data for this study was collected using a quantitative survey and field interviews with 11 managers and executives representing Managed Markets or Market Research functions at leading pharmaceutical and biotech companies.