pharmspective report - decision visualization, solutions for a new paradigm in pharma
DESCRIPTION
U.S. Pharmaceutical marketers and market research professionals are experiencing a major shift in the ways that marketing intelligence is gathered. Understanding treatment decisions now requires a wider perspective of viewpoints from additional stakeholders who now have a broader say in access to many of today’s more expensive biologics and specialty therapies. Prescribing decisions for these targeted therapies are complicated by factors such as varying insurer eligibility criteria, patient co-payments, different administration routes, specialty distribution, and individualization of therapy. All of these factors influence a buying process that was once thought of as the domain of the physician alone. Pharmaceutical market research has not kept pace with these changes and these moving parts are now a confounding factor for industry executives trying to understand the dynamics driving adoption of this new generation of therapies. Prescribing decision-making has never been more difficult to segment and tools to analyze prescriber behavior are in short supply.TRANSCRIPT
A Research Report by Pharmspective, LLCDECISION VISUALIZATION: Making Pharma Market Research More Relevant in a New Era Page 2
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A Research Report by Pharmspective, LLCDECISION VISUALIZATION: Making Pharma Market Research More Relevant in a New Era Page 3
Tabl
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nts A New Pharma Paradigm........................4
Evolution ofBuying Process Models..........................4
Understanding New Customer Touchpoints....................5
New Prescriber Insights..........................6
Looking Ahead........................................7
Contact..................................................8
A Research Report by Pharmspective, LLCDECISION VISUALIZATION: Making Pharma Market Research More Relevant in a New Era Page 4
A New Pharma Paradigm
U.S. Pharmaceutical marketers and market research professionals are experiencing a major shift in the ways that marketing intelligence is gathered. Understanding treatment decisions now requires a wider perspective of viewpoints from additional stakeholders who now have a broader say in access to many of today’s more expensive biologics and specialty therapies.
Prescribing decisions for these targeted therapies are complicated by factors such as varying insurer eligibility criteria, patient co-payments, different administration routes, specialty distribution, and individualization of therapy. All of these factors influence a buying process that was once thought of as the domain of the physician alone.
Pharmaceutical market research has not kept pace with these changes and these moving parts are now a confounding factor for industry executives trying to understand the dynamics driving adoption of this new generation of therapies. Prescribing decision-making has never been more difficult to segment and tools to analyze prescriber behavior are in short supply.
Evolution of Buying Process Models
While marketing intelligence within the pharmaceutical industry has been slow to adapt to changes in the buying process, the world outside of the pharmaceutical industry has dramatically altered itself. The sharing of information about user preferences for products and services includes social media, online blogs, Facebook, Google+, Twitter, and a host of other sources which generate massive amounts of information about buyers’ likes and dislikes. What is most interesting about these new venues for communicating user preferences is that expectations of potential customers are now being shaped far in advance of an actual customer experience.
Decision Visualization:
Making Pharma Market Research More Relevant in a New Era
A Research Report by Pharmspective, LLCDECISION VISUALIZATION: Making Pharma Market Research More Relevant in a New Era Page 5
Understanding New Customer Touchpoints
The connectivity of these online sources to existing and future users of consumer products and services has redefined the buying process in many categories and forced companies to increase or enhance customer touchpoints to ensure buyer satisfaction.
For many products and services, this transformation of the customer experience has altered the buying process from a generic decision with limited shared information to an individualized decision with multiple external influences. Prescribing decisions about targeted therapies have evolved in a similar manner and the research necessary to understand these decisions must examine a broad set of influences to remain relevant.
While the prescribing preference for many targeted therapies is still the domain of the physician, the eventual fulfillment of an Rx may hinge on several factors outside of the physician’s control and the “hassle factor” may weigh heavily on future prescribing choices. For pharmaceutical industry decision-makers to fully understand this unique buying process, all of the touchpoints along the prescribing and fulfillment continuum need to be examined and the perspectives of influencers at each touchpoint need to be understood.
Research Questions Assessing the Specialty Therapeutics Utilization Decision
Prescriber Decision-Making Therapy Aquisition & Access Therapy Administration Prescribing Influencers
– In what areas of the clinical presentation spectrum do physicians believe in the product’s promise?
– What barriers does the current procurement process for specialty therapeutics create for physicians and practices?
– How do payer coverage policies influence utilization and what competitive advantages and disadvantages do specific drugs have in pre-certification and authorization for use?
– To what extent does the mode of administration (oral vs. infused vs. injectable) of a specialty therapeutic influence the prescribing decision?
– What role and influence do various stakeholders play in the adoption process?
A Research Report by Pharmspective, LLCDECISION VISUALIZATION: Making Pharma Market Research More Relevant in a New Era Page 6
New Prescriber Insights
To satisfy pharma’s need for broader understanding into the evolving decision-making process of prescribers of specialty therapeutics, prescriber insights must meet two additional requirements to be credible:
1. The influence of payer policies on the authorization and payment for specialty therapies must be clearly understood
2. The physician’s perspective about the advantages and disadvantages of specific therapies must be evaluated relative to the influence and satisfaction of third party stakeholders
Decision visualization is a term that we use to refer to an influence map of the buying process for our clients. We have structured our market intelligence gathering to capture distinct knowledge about the components of this influence map:
Decision Visualization for Specialty Therapies
Asking the questions necessary to gain perspective on each of these issues is only part of the challenge in characterizing the buying process. As important to this challenge is providing our clients with the ability to customize multiple perspectives of the answers to these questions, based on different prescriber types, practice types, payer mix, and geography. These “individualized” data perspectives create “active” instead of “static” views of the buying process and allow users to visualize prescriber decisions from multiple viewpoints. The use of Web-enabled apps will be necessary to accommodate this need for “fluid” data analysis.
Treatment Decision
Reimbursement Environment
Patient Satisfaction
Clinical Presentation
Prescriber Characteristics
Influence of Specialty
Pharmacies
Drug Acquisition
Negative Drug Issues
Influence of Pharmaceutical Manufacturer
A Research Report by Pharmspective, LLCDECISION VISUALIZATION: Making Pharma Market Research More Relevant in a New Era Page 7
Looking Ahead
In the future, customer-centric apps will provide a much-needed addition to market research, employing the advantages of the newest technologies in search and socialization of information. Our guiding principles for creating these apps build upon feedback from users about how they want market research data organized and transformed to display different viewpoints:
1. Single-layer visual display with built-in functionality
2. User-specified data filters that provide a range of data perspectives across research responses
3. Graphic output in easy-to-understand display formats that highlight distinctions among research responses
4. The ability to “save” views of the data created by individualized selection of specific filters
5. The ability to use the app to comment on and socialize perspectives on key findings
Embracing these concepts will transform pharma market research towards becoming a more viable solution in a new era of specialty therapies.
© Pharmspective 2012 Phone: (314) 812.2729
www.pharmspective.com
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About Pharmspective:
Pharmspective, LLC (pharmspective.com) is a Specialty Therapeutics Market Research firm providing commercial insights and knowledge management applications for the biopharmaceutical industry. The company is uniquely focused on understanding the buying process for Specialty Therapeutics through syndicated market research studies examining clinical decision-making, drug acquisition, access and reimbursement, and patient administration for specialty therapeutics in autoimmune diseases (Rheumatoid Arthritis, Psoriasis, Multiple Sclerosis, Crohn’s/ Ulcerative Colitis, Lupus) and Oncology. Pharmspective’s proprietary knowledge management applications create a superior user experience and include the ClearViewTM Healthcare Reform app. PharmspectiveTM is a trademark of Pharmspective, LLC. Follow Pharmspective on twitter.com/Pharmspective. The company maintains offices in New York City and St. Louis, MO.
For reports and key findings, please visit our website www.pharmspective.com or contact:
Cindy Wong(314) 812.2729 x1003