Pharmaceutical marketing can focus on many different channels such as professionals/physicians, medical affairs, media, and consumers. Another marketing channel for pharma account managers is managed markets.
Managed markets customers for Pharma are health care organizations with processes (drug coverage policies and management techniques) to ensure that all appropriate patients who would benefit get timely and sustained access to innovative pharmaceuticals at a fair price.
Managed markets organizations include:
- Provider organizations
- Intermediaries, such as pharmacy benefit managers (PBMs)
How do managed markets impact Pharma?
Within managed markets, payers, providers, employers, and PBMs evaluate pharmaceutical products based upon the drug’s innovation, the cost, and the value it provides. These stakeholders can either facilitate or impede selection and dispensing of a given drug therapy by putting the drug on a plan’s formulary (or excluding it) or prescribing the drug to patients (or not prescribing it).
How can Pharma enhance its relationship with managed markets customers?
The best approach for Pharma is to work closely with an agency that understands this unique marketplace. A managed markets agency will collaborate with Pharma, while applying its deep understanding of managed markets customers and its expertise in navigating marketplace dynamics. A managed markets agency’s expertise and strategic insights enable Pharma to engage with its key managed market stakeholders on shared priorities to improve patient care and optimize drug therapy.
For more managed markets information:
8 Strategies for Pharma Market Access Teams to Get Ahead of HHS Transparency Proposals
Making a difference in patient care by helping patients, providers, and payers collaborate on shared priorities
The views and opinions expressed are those of the author and do not imply endorsement by Aventria Health Group.