Life science companies are acutely aware of the financial burden patients face when trying to access branded medications. With an estimated 3 out of 10 American adults not taking medications as prescribed due to cost, affordability is a leading barrier to patient access and something that manufactures have to take seriously if they wish to unlock significant adoption.
With rapid initiation of therapy and medication adherence crucial to better patient outcomes and brand viability, making financial assistance programs timely and easily accessible is paramount
Editor’s Note: As the cost to bring a drug to market reaches all-time highs and expected returns sink in the life sciences industry, manufacturers commercializing innovative therapies must shake off traditional strategies that are waning in their effectiveness. Gone are the days where clinical differentiation, media buys, and a large sales force is enough to ensure adoption and financial sustainability. In the era of specialty and steep utilization management requirements, an integrated commercial approach that places patient access as a first order priority is essential
Editor’s Note: While each innovative therapy is unique, all brands should make unlocking patient access a top priority. Yet, far too often patient access is relegated behind other commercial objectives like building a sales force or activating the highest possible number of patients. Both of which are necessary, but insufficient strategies for delivering commercial success in an environment where payer coverage has become increasingly hard to come by
Editor’s Note: Over the past two decades, the rise of novel technologies has disrupted industries and radically altered consumer behavior. While the digital transformation of the healthcare industry has historically lagged behind other more tech-forward sectors like entertainment and financial services, the pandemic accelerated its digitization. In return, patients now want and expect to receive a frictionless experience when it comes to accessing and managing their healthcare
Editor’s Note: As the prescription drug pricing policies from the Inflation Reduction Act become a market reality, manufacturers should be prepared. In addition to providing CMS with negotiating power, provisions in the bill will cap annual out of pocket cost expenditures for Medicare beneficiaries at $2,000 annually. The likely result is that additional actions will be taken by payers to shift more financial responsibility to manufacturers in the form of rebates
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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.