In the U.S. bio-pharmaceutical market, there is now a fifth “P” that’s at least as important for established brands as any of the other four—payers.
Just a few years ago, effective promotion was simply a matter a crafting a message about a brand then driving it though professional and consumer channels with traditional tools like a sales force and DTC spend.
The rise of new managed care strategies like tiered cost-sharing for patients and prescribing restrictions for physicians has reduced the return on marketing and left brand teams looking for answers. These are questions brand teams wrestle with every day.
- How do I best allocate my promotional dollars?
- Should I ratchet up sales calls, or offer better co-pay support programs for patients?
- How can our brand become the preferred product in its class on managed care formularies?
Now the Brand Strength Index can give you better insights to help you win in competitive categories.
The Brand Strength Index uses a proprietary mix of research approaches to first gauge how managed care sees the entire class.
- Is it high on their preference for management?
- What are employers saying?
- What trade-offs exist in the minds of managed care executives between unit price and volume?
- What novel cost containment strategies are in the wings?
- Can you expect to see new tiers and co-insurance or will the focus be on physician approaches like prior authorization, incentive compensation, or step edits?
- Do managed care plans see products in the class as interchangeable or differentiated?
Armed with these results, the Brand Strength Index then conducts quantitative research with physicians and patients designed to answer exactly how many barriers these key stakeholders are willing to tackle on the way to accessing your brand.