Branded retail and specialty-lite pharmaceutical manufacturers must be acutely aware of the changes occurring within the retail pharmacy channel because they directly impact access and commercialization efforts. The evolving landscape – marked by the transition of retail pharmacies into primary care providers, the reduction of chain pharmacy footprints, the rise of mail order and online pharmacies, and critical labor shortages – directly influences how branded prescription medications are distributed, accessed, and managed. The following retail pharmacy trends are strong indicators that manufacturers must consider and adopt an alternative channel strategy in 2024 and beyond
The pharmaceutical industry finds itself at the crossroads of innovative treatments and technological advancements redefining how patients access prescribed therapy. However, this tremendous innovation has also presented unique challenges in securing patient affordability and access to therapy. These five key trends should be considered and will influence how manufacturers should think about shaping their services programs heading into 2024
Editor’s Note: As the healthcare ecosystem continues to undergo significant digital transformations, life sciences companies would be wise to consider the impact of this evolution on one of their most important stakeholders - health care providers (HCPs). The fusion of the increased prevalence of blended care models, staff shortages, and higher utilization management requirements have resulted in an environment where HCPs find themselves more constrained than ever. This has made it more challenging for life sciences companies to effectively engage providers to ensure that patients can access their therapies
With payer cost-containment measures continuing to escalate, patient access is top-of-mind for healthcare providers (HCPs) when deciding on prescribed therapy for their patients. Manufacturer-sponsored patient support programs are essential to helping patients get started and afford specialty and specialty-lite medications. A survey of 1,000 physicians found that HCPs believe these programs significantly positively impact their ability to practice medicine – yet, only 60% felt the pharmaceutical industry has robust patient support services
By Catherine Wood Hill, Vice President of Marketing at Phil, Inc. Biopharma hubs should strive to ensure patients get access to the medications they need quickly and affordably, while easing the manual effort required by prescribers. A positive hub experience builds trust, promotes brand loyalty, and supports ongoing therapy adherence
Our consultants will work with you to analyze your current channel strategy and make recommendations for how to improve patient access and increase the percentage of scripts getting covered by insurance.
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