Roundtable of Biopharma Industry Leaders Offers Insights to Market Access Challenges
Highlights Published in the November 2013 Issue of Pharmaceutical Executive
NEW YORK, Dec. 2, 2013 /PRNewswire/ — Promidian, an Access Group company, recently participated in a feature roundtable hosted by Pharmaceutical Executive to discuss how market access dynamics are likely to evolve over the next few years and the implications of this evolution for biopharma companies. A recap of the highlights of the panel discussion is featured in the November issue of the magazine and is available upon request through Promidian at promidianconsulting.com.
The roundtable participants, including executives from the biopharma industry, consulting firms, and trade organizations, brought to the forefront the emerging issues related to market access. This market access dilemma has significant strategic and operational implications for the way the industry develops, launches, and promotes drugs.
“This was a unique forum that brought together a diverse group of industry stakeholders to focus on the issue of where market access is going and what this means for biopharma companies,” said Kevin Barnett, Executive Vice President and Managing Director at Promidian.
The roundtable discussions covered a wide range of topics, including how market access dynamics are expected to evolve over the next few years, therapeutic areas that are expected to be among the highest priorities with payers, changes in payment and care delivery models, what payers want from drug manufacturers, and requirements for market access success for biopharma companies vis-a-vis the evolving marketplace.
New Research by Promidian Drives Discussions at Pharmaceutical Executive Roundtable
The dynamic dialogue during the roundtable was fueled by a review of findings from Promidian’s Future of Market Access study. The study involved both primary research with managed market executives and market access key opinion leaders (including those from managed care organizations, pharmacy benefit managers, Medicaid, employers, and accountable care organizations) and primary research with executives from leading biopharma companies. Key areas of focus in the study include
-- Where the most change is expected in managed care and market access -- The degree to which and how the Affordable Care Act will affect business -- Top business priorities for managed care -- Therapeutic categories that represent the highest priorities for payers -- The biggest market access-related challenges and priorities for biopharma -- Expectations on what will happen with biosimilars and comparative effectiveness research -- Which biopharma companies are most effective in dealing with payers, and what differentiates these companies -- Opportunities and requirements for biopharma companies to positively differentiate themselves in the way they interact and conduct business with payers -- Assessment of how perceptions and expectations of payers and manufacturers compare across the questions included in the study
“Based on our research, market access dynamics are expected to change dramatically over the next three to five years in a number of areas, ranging from the role of biomarkers, information technology, and comparative effectiveness standards to benefit and formulary design and contracting,” said Barnett. “Biopharma companies need to understand and address the implications of these changes to be successful in the forthcoming environment. Our research with payers identified those biopharma companies that are perceived to be best positioned for success over the next few years,” he added.
Promidian, an Access Group company, is a management consulting firm that is focused on the pharmaceutical, biotechnology, and life sciences industries. We combine deep industry and functional area knowledge with specialized expertise in market assessment and strategy development–to assist life sciences executives in addressing their most pressing business challenges. For more information, visit promidianconsulting.com. You may also contact Kevin Barnett at firstname.lastname@example.org.
About the Access Group
The Access Group is the leading independent strategic health care communications network composed of 8 distinct companies: Access Alliance, Access Communications, Catalyst, Fusion Medical Communications, MedAccess, Promidian, S3–Strategic Selling Solutions, and StrataMed. The firm is headquartered in Berkeley Heights, New Jersey, with offices in New York City, Chicago, San Francisco, and San Diego.