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Creating Compelling Market Access Stories
FirstWord Publishing, August 2011, Pages: 43
Who's in charge?
It's an increasingly complex question faced by pharma companies when it comes to creating compelling value stories for payers. With governments tightening purse strings, generics flooding the market and the industry scrutinised with new transparency requirements, finding ways to 'think global and act local' has become critical and it is often not clear who is in charge.
Creating value stories that present a pharmaceutical's strongest case from a payer perspective is relatively new territory. Navigating the task means creating stronger communication channels between the affiliates and the regional or global centre as well as between R&D and commercial managers.
Creating Compelling Market Access Value Stories addresses the most challenging questions facing market access by delving into how value stories are created and managed. The report offers insight into the critical imperatives surrounding their development and evolution. It discusses payer expectations, how companies can ensure that all departments work from a market access viewpoint and addresses practical issues such as testing the message and ensuring its consistency for each of the various stakeholders.
- An examination of the rising importance of market access across Europe and the US
- A review of how value propositions are built and the question of ownership
- The structural challenges companies face in developing cross-functional market access capabilities
- The importance of payer research in validating and testing the value story
- Managing political developments
- Charts covering European bodies responsible for HTA activities and country-by-country measures for rational use of medicines in the EU
- Concise conclusions on developing and implementing value propositions
- A European-focused picture of how market access value stories are developed
- Expert input on everything from payer research to creating communication channels across multiple company layers
Key Questions Asked
- Why are market access considerations now underpinning every aspect of the pharmaceutical business?
- What are the major trends in healthcare technology assessment (HTA)?
- How can companies ensure they meet payer needs?
- When should companies test value stories, and how are tests best conducted?
- How can companies ensure consistency in value stories to all stakeholders?
- What is the importance of keeping current with political developments?
Who Should Read This Report
- Market Access Directors & Managers
- Brand Marketing Directors & Managers
- Health Economics professionals
- Pharmacoeconomics professionals
- Health Outcomes / Outcomes Research professionals
- Health Technology Assessment professionals
- Health Policy professionals
- Pricing & reimbursement teams
- Patient Advocacy Liaison teams
- Communication Directors & Managers
- Public Policy professionals
- Medical Affairs managers
“As an industry, we have a lot of the research budget sitting in marketing for in-market products that could have been better spent on research whilst these products were in Phase II or III. The result is we can spend a million dollars asking the physician whether they prefer the bird or the flower and whether it should be pink or purple, and just 20,000 dollars trying to work out what type of evidence a payer really needs.”
– FirstWord source
“I often get the feeling with the international consultancies that they learn a great deal from me or my organisation that helps them pitch to another company. In some cases, the harm they have caused to the organisation through the turmoil they created with senior management has exceeded the good.”
– Dr Tobias Gantner, Head of Market Access, Bayer Healthcare, Germany
“What we try to do with this board, which comprises 11 colleagues from the countries, is to have a representation of all kinds of healthcare systems. We cannot talk at every point in time with everybody. This means if we come to a solution at this level, we can be pretty sure that 90 percent of the markets can be covered by the arguments we have developed.”
– Britta Paschen, Vice President, Global Pricing and Health Economics, Merck Serono
Embedding a market access mindset
- Situation in the US
Identifying the evidence required
- Value-based pricing versus cost-effectiveness
- Germany moves to value-based assessment
- Italy's new innovation rating
- QALY-plus in the UK
- Implications of value-based assessment
- Harmonising evidence requirements
The global story
- When to start building up the value proposition
- Who owns the message?
- Health economics and outcomes research
- Marketing and brand teams
- Market access departments
- Transfer of ownership
- Involvement of the affiliates
- Bridges between commercial and R&D
Building the value story
- Payer research
- External vs internal
- Payer adboards
- Testing the value stories
- Ensuring consistency
Keeping abreast of healthcare policy
- Decentralisation of budget control
Pulling the strands together
- Institutions and advisory bodies responsible for HTA activities
- Measures to encourage rational use of medicines throughout EU