Winning the Long Game:
Life Science Companies Must Focus on Market Access - Not Just Clinical Trials
Life Science
Clinical trials are just the start. Discover how real-world data help life sciences companies implement market access strategies designed to get new drugs to patients who need them.
It takes life sciences companies a long time to get their therapies through the clinical trials process. Unfortunately, when they are finally done, their work still is not done. The problem: Pharmaceutical market access – the process of ensuring a drug is not only approved but also commercially viable, reimbursed and accessible to patients – is challenging and could consume more precious time, leaving patients hanging without the benefits of innovative treatment. In fact, according to analysis from consulting firm Deloitte, more than 50% of life science company drug launches miss expectations due to market access challenges, and about 50% of these companies also struggle with an inadequate or incomplete understanding of market and customer needs.
To improve market access, companies need to ensure that needed treatments reach the right patients at the right times and at affordable prices. To accomplish this optimal market access, companies must work closely with payer organizations, which typically control over which drugs are embraced by providers and their patients. This paper describes how companies can leverage real world data to support market access strategies such as, identifying the right payers for pilot programs, understanding payer preferences for specific drug classes or treatment pathways and segmenting markets by payer type to implement targeted intervention strategies.
Read this whitepaper to learn more.
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