Key trends shape the managed markets landscapeManaged markets has moved from behind the scenes to center stage and key trends are shaping the landscape and environment in ways not even considered a few years ago:
- Political: Healthcare reform, increasing government oversight and stricter regulations are redefining the rules of engagement between pharmaceutical companies and stakeholders, especially as 32 million new covered lives enter the system without a proportionate increase in the number of healthcare providers.
- Economic: A shift to evidence-based economic value has increased the need for pharmas to demonstrate how their products and services are improving patient outcomes; comparative effectiveness studies are being required to determine appropriate treatment options.
- Social: Online social networks have empowered patients, who now demand more choices and control over their treatment.
- Older adults: An aging population with a prevalence of chronic diseases could tax the resources of Medicare and providers.
- Time: Physicians have less time and more patients, so their interactions have to be meaningful and efficient.
- More options: Pharmacogenomics and personalized medicine have broadened the scope of treatment choices—especially in oncology—but some of these options can be costly and their benefits need to be proven.
- Legal: High levels of regulatory control and ongoing industry relationships are under greater scrutiny.
- Technology: Seamless flow of unfiltered data is shared by key stakeholders and influences choices; using multimedia channels is essential for ensuring effective messaging.
With the spotlight now focused on managed markets, marketing communications require a more holistic blend of content, commerce, community and connectivity.
Kim Wishnow-Per IS EVP managing director, Torre Lazur Managed Markets