Life Sciences Companies Should Work to Bring Managed Markets and Brand Teams Together, Not Keep Them Apart
Involve Commercial Teams in Managed Markets Strategy Decisions, Study Recommends
<0> Cutting Edge InformationElio Evangelista, 919-403-6583 </0>
A new study published by Cutting Edge Information details the benefits of incorporating brand teams in the managed markets decision making process. Companies that discourage communication between these teams miss out on a critical opportunity to develop a unified message for the brand.
The study, "Driving Commercial Success through Outcomes-Based Reimbursement," found that companies' internal communications strategies have remained conservative to avoid compliance risks.
"We had executives tell us that their teams spend so much time communicating a specific value proposition to a payer, only to have the marketing team go in a completely different direction," said Elio Evangelista, Director of Operations at Cutting Edge Information. "Companies should encourage communication between brand teams and managed markets groups. The benefits are worth the added effort to monitor their output for compliance risks."
According to the report, companies that choose to make the integration of marketing and managed markets a priority reap the benefits. "It can be extremely useful to have someone in place who can look at the marketing resources and determine how the company can best position each product via marketing messages and managed markets activities," added Evangelista. "This allows the team to prioritize funding toward specific products that might need a higher concentration on managed markets."
"U.S. Managed Markets: Driving Commercial Success through Outcomes-Based Reimbursement" provides best practices and benchmarks that enable managed markets teams to confidently answer any question a payer may have.
For more information about, outcomes-based reimbursement and pricing strategies, contact Elio Evangelista at 919-403-6583.