Today's guest post has been provided by Monique Levy, Vice President of Research, Manhattan Research
1. Eroding patient and physician choice. More than two-thirds of physicians say their choice of prescription is impacted by formularies and almost as many say the same about prior authorizations. At the same time, almost 500 ACOs are in operation or underway in 2013 and at least another 150 are expected by 2014, bringing another layer of preferred lists and restrictions that will potentially erode physician choice and preference. Manufacturers that pursue ways to provide value-added services to payers and ACOs where goals are aligned will be at an advantage as will companies that help prepare consumers for potential road blocks when they request a specific brand.
2. Targeting formulary decision makers in payer organizations. In addition to tweaking their value proposition to current customers – physicians and patients – pharmaceutical companies need to allocate resources and develop expertise further upstream in the prescription decision-making process. The good news is that formulary decision makers in MCOs, PBMs and hospitals are highly accessible via online channels and interested in value-added services from pharma. Over 4 in 5 hospital-based formulary decision makers are interested in any form of ongoing support and resources from pharma, including help with such items as developing provider education materials, economic models, and patient education materials. Further, nearly 6 in 10 Hospital Pharmacy and Therapeutics (P&T) committee members and more than 7 in 10 MCO P&T committee members use websites or apps to support decisions on adding or removing drugs to the formulary.
3. Leveraging a broader care team. With higher stakes around meeting outcomes and lowering risk, pharmacists, nurses, physician’s assistants, case managers and other healthcare professionals are taking on expanded roles in patient care. In many cases, these stakeholders have a direct impact on the prescription that the patient ends up taking. As with formulary decision makers, pharmacist and nurses are digitally savvy and open to supportive services from pharmaceutical companies. About two-fifths of pharmacists say that they spend more time providing care and support for patients, such as recommending a pharmaceutical company website or app to their patients, than they did two years ago. Moreover, pharmacists would like pharma companies to provide them with online access to resources to help them support their patients. For example, over three-fourths of pharmacists would like access to online patient education materials from pharma. Additionally, 64 percent of retail pharmacists would like patient assistance or vouchers, provided by pharma companies, through their EHR systems.
Other strategic challenges and opportunities Manhattan Research has identified center around health big data, electronic health records, remote monitoring and quantified self-movement, and the emerging gap in patient support. Looking forward to discussing all of these exciting trends with you at the conference next week!
Taking the Pulse® Formulary Decision Makers 2012 surveyed 205 Managed Care Organizations (MCOs), Pharmacy Benefit Managers (PBMs), and Hospital Pharmacy & Therapeutic (P&T) committee members in the United States in October of 2012. For more information, please visit www.manhattanresearch.com/ttpfdm.
Taking the Pulse® Pharmacists 2012 surveyed 752 U.S. pharmacists online in September and October of 2012. For more information, please visit www.manhattanresearch.com/ttppharmacists.
Taking the Pulse® Nurses 2012 was fielded in Q2 2012 among 1,019 U.S. practicing nurses and physician assistants. For more information, please visit www.manhattanresearch.com/ttpnurses.
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