In 2021, 3 out of 4 patients who tried to fill a launch brand were unsuccessful due to payer controls. As life science companies continue to launch innovative specialty-lite therapies, adopting a distribution strategy that ensures patients can access the brand as prescribed – efficiently and affordably – can mean the difference between a successful launch and failing to reach their expected value. As the primary channel for most brands, pharmacy networks play a pivotal role in the distribution, fulfillment, and reimbursement of medications, which means the brand's short- and long-term commercial success ultimately hinges on pharmacy performance
The explosion of virtual healthcare during the COVID-19 pandemic fueled the rise of digital direct-to-consumer (DTC) channels in the life sciences industry. The realization that it’s possible for patients to have a compliant, clinical conversation to receive a prescription via a telemedicine platform linked to a brand’s website can be a game-changer. A well-executed DTC model provides a more responsive option for patients to meet them where they are in 2023 - online and on their phone
Editor’s Note: Digital Therapeutics offer the prospect of a tremendous new treatment paradigm for patients and the healthcare system. The digital health revolution promises numerous benefits including but not limited to cost savings, improved patient access, and adverse side effect reduction. While many have already experienced positive benefits from prescription digital therapeutics, the industry faces tremendous headwinds in 2023 facing a tight funding environment and a reluctant health insurance industry
Editor’s Note: Life Sciences manufacturers are facing economic challenges on multiple fronts. Some of the most pressing headwinds impacting growth include higher production costs, landmark federal legislation enabling government price negotiation, expanding payer rebate requirements for formulary placement, and a tight macroeconomic funding environment. While both the general public and regulators typically point to the year over year trends of drug list price increases, net prices have continued to fall and understandably receive less attention
Editor’s Note: In 2023, most patients are highly informed and active in navigating their health. The typical interactions with care providers have evolved from one-way transmissions of information to become two-way dialogues focused on overall health optimization. Healthcare entities should operate with the insight that patients crave accessible information, convenience, and transparency when making important healthcare decisions
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