Payer Factors that Shape a Successful Oncology Market Entry: Education and Access Insights

STUDY OVERVIEW

While many factors affect a pharmaceutical new product launch, it's recognized that payers have become a critical factor in how an oncology product fares in the marketplace. In response, organizations have incorporated a number of payer-related activities into their pre-launch and launch plans. In particular, launch leaders have learned to focus their efforts on educating payers about a new oncology product and working with private and public payers to gain access for new products at or as soon as possible following launch.

Best Practices, LLC conducted this research study to discover successful strategies and tactics for educating payers on new therapies and winning managed markets access for new oncology products. Launch leaders and managed markets executives can use this research to compare their approach to these payer-related launch interactions with the approaches used by leading organizations. This study contains two segments: an oncology segment and a total benchmark class segment.

KEY TOPICS

• Payer Education
• Preparing Market Constituents
• Access Insights & Success Factors
• Winning Hospital Formulary Access

• Effectiveness rating of early payer education and engagement activities that prove most critical to market entry and success
• Importance rating of educating and winning support from payers and other stakeholders in order to enter market, win share, and grow market
• Gauging whether list of factors important to payers will increase or decrease in importance during the next two years.
• Importance rating of different strategies and tactics for winning new product acceptance in the hospital market

• Engaging Payers With A Focus On Value: Engage payers early and across multiple fronts. Be prepared to speak to their interests on price and reimbursement – and be able to convert price-based conversations into value-based conversations illuminating health outcomes, comparative effectiveness and most valued label attributes.

The research employed a data gathering approach that gleaned quantitative data from seven leaders in oncology, although their participation varied across the question set. The total benchmark class included 44 executives and managers from 38 leading companies in pharmaceutical, biotechnology and medical device industries. In addition, nine executives participated in in-depth interviews.

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.