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Pharmaceutical CRM/Disease Management Programs Return $8 for Every $1 Invested

Posted on: Wednesday, 6 February 2008, 09:01 CST

According to a new study released by Cutting Edge Information, CRM/disease management programs prove to be an efficient, effective, multi-faceted and lucrative LCM tactic that much of the industry does not leverage to its full potential. The report found that the average ROI of the tactic was 695%, or a return of eight dollars for every dollar invested (http://www.PharmaLifecycleManagement.com).

According to the study, CRM/disease management programs can improve the sales curve for a brand from launch to patent expiration and increase compliance. An increase in compliance can often results more positive health outcomes of treatment. In addition, these programs offer companies an opportunity to provide physicians and patients with an extra value service that can enhance brand loyalty. These programs both maximize profits and serve as an excellent public relations tool for the brands and companies.

According to the study, CRM/disease management programs also cut costs by retaining patients -- it costs 62% more to recruit a new patient than maintain a current one. Yet, even with such benefits, much of the industry does not plan effectively to maximize the potential of this tool. The study found that 42% of companies do not start planning until Registration and Launch and another 33% of companies do not start planning until a drug's first year on the market or later.

"Timing of the launch of a CRM or disease management program is crucial because the most successful brands understand that retaining the first patient prescribed a drug is just as important as the last patient," says leading author on the report, Amanda Zuniga. "The most effective programs launch simultaneously with the drug." Maintaining and building relationships with patients and physicians through the course of a drug's life maximizes profit and also forges a loyalty that extends beyond patent expiry and generic presence.

"A Guidebook to Pharma Brand Optimization: Lifecycle Management Strategy" (http://www.PharmaLifecycleManagement.com) examines pharmaceutical companies' lifecycle management structures, funding, processes, and strategies. It guides readers through a drug's lifecycle stages, offering insights and recommendations on the most common lifecycle management strategies for each time period. Each strategy is illustrated by relevant industry examples. Through this report, readers will be better positioned to streamline their LCM strategies and processes by benchmarking their efforts against those of top-leading companies.

Download a free summary of "A Guidebook to Pharma Brand Optimization: Lifecycle Management Strategy" or purchase the report at http://www.cuttingedgeinfo.com/pharmalifecyclemanagement/PH108_Download.asp#body.

 CONTACT: Amanda Zuniga Email Contact 919-433-0210  

SOURCE: Cutting Edge Information

Source: MARKET WIRE

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