Taren Grom, Editor
NOTE: The content below contains the first few paragraphs of the printed article and the titles of the sidebars and boxes, if applicable.
Patient-centricity, patient engagement, patient focus — no matter what you call it — is gaining increasing attention in and outside of the industry. Forbes’ contributor Dave Chase recently wrote an article on “The 7 Habits of Highly Patient Centric Providers.” In his article, he cites that one of the transformative organizations pushing for change is Oliver Wyman’s Health Innovation Center. The center recently published a paper entitled The Volume-to-Value Revolution with the input of an advisory board of CEOs ranging from large public companies to emerging companies. And in that paper, authors Tom Main and Adrian Slywotzky make the case that new patient-centered population health models will cause more than $1 trillion of value to rotate from the old models to the new and create more than a dozen new $10 billion high-growth markets.
We’ve been following the evolution of the pharma business model, which some are calling the new blockbuster drug, for some time. With so much money in the mix, it’s no surprise to see new health-tech companies popping up, nontraditional healthcare companies entering the arena, and healthcare-centric organizations retooling their services to address patient needs.
Several of our articles this month, including more than a few of our showcase features, look at how the industry is progressing along the patient journey. This month’s cover story “Digital Patients: Disrupting the Status Quo,” discusses how patients’ use of digital technologies is driving healthcare stakeholders — physicians, payers, and pharma companies — to create new strategies and tools for patient engagement and data collection all along the patient journey. The “Brand Identity in a Consumer-Driven World” article talks about why the industry must begin to connect the dots between brand identity and consumer preferences as healthcare consumers claim more power over their healthcare decisions and physician control over brand choice declines.
IMS Health has posed several objectives that companies should consider when addressing the patient journey.
1. Understand “what is happening” i.e., the full patient experience — from awareness through adherence.
2. Gain insight into the “why” behind the decisions made throughout the journey.
3. Understand “how often” by understanding number of patients and physicians at each step and sub-step in the journey.
4. Estimate “how” the typical patient journey will evolve, especially in pre-launch situations and make the patient, healthcare provider, or payer experience better, while driving brand uptake.
5. Align on “where to add value” within the patient journey and design strategies and tactics to win in the marketplace.
6. Ensure that the team answers “how do we know we are winning” by measuring progress against the prioritized objectives within the journey.
At some time or another, we will all be embarking along our own patient journey, so it’s good to know we won’t be alone.
The first product has been filed for approval under the new law that created a biosimilar regulatory path; this pending approval is expected to change the biotechnology market.
Pharma is beginning to embrace exciting new tools and strategies in order to connect with the digital patient, as well as bring more value beyond the pill.
Given its strong healthcare system and modern technologies in larger cities such as Santiago, Chile is certainly poised to grow with the market.
Coming in October 2014
> Collaboration: Real Knowledge Sharing
> In the Pharmacy
> Academic Research Centers
> Career Tools
> Investigator Training
> C-Suite — Specialty Pharma
> Market Focus — Columbia
> Showcase Feature — Supply Chain & Logistic Management
> Showcase Feature — Patient Solutions
The Forum For The Industry Executive
Volume 14 • Number 8
Publisher Lisa Banket
Editor Taren Grom
Creative Director Marah Walsh
Director of Sales
national account manager
by PharmaLinx LLC, Titusville, NJ
Printed in the U.S.A.
Volume Fourteen, Number Eight
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