Once again 2024 will bring us all the angst of a particularly ugly presidential election, plus 34 senate seats and of course 435 seats in the House. Whenever this happens, the industry where we all toil is invariably attacked. Certainly, the Coalition for Healthcare Communications will be on the lookout for specific threats, but it’s time once again for members of our industry to remind ourselves that the work we do is vital to the health of not just the nation but the world, and to stand tall with our heads high. A bonus prediction: Odds are good that somebody in the industry will really screw up an AI promotional program in some way, and the industry will get discredited for it. That does not mean that we abandon AI, but instead take care to be responsible in our actions. — Jay Carter, EVP, business development, Juice Pharma Worldwide
While 2023 was the year when artificial intelligence and machine learning came to prominence in healthcare, 2024 is when the ethical implications of AI will need to be grappled with. Whether it’s prioritizing patients based on algorithms, biohacking, or deepfake technology used to spread misinformation, the healthcare industry will start to reckon with the task of laying a foundation to ensure that proliferation of AI and synthetic media enhances, rather than diminishes, our well-being and societal health. — Larry Mickelberg, chief commercial officer, Publicis Health
I believe that in 2024 we will improve global health by making science more accessible for patients and healthcare providers. With the maturation of AI and generative AI, more digital solutions will help lower the barrier to equitable healthcare across the globe through tools like AI-powered health coaching, early detection and disease intervention monitoring, and new tools and capabilities that help healthcare providers deliver more personalized patient experiences and reduce operational costs. 2024 will be a year of transformation, testing and learning and seeing results from early investments in AI. — Shankar Narayanan, CEO, Real Chemistry
We witnessed a revolution of possibilities in 2023 using generative AI in integrated marketing communications. This powerful tool has shown us ‘what is possible,’ and helped us envision how we can be even more effective and creative for our clients. With great power comes great responsibility. I believe in 2024 we can expect continued ethical conversations in our industry and new policies to ensure the integrity of our work. While generative AI will never replace the creativity of human ingenuity, this technology gives us new ways to connect with audiences in even more personalized, targeted ways. — Jennifer Gottlieb, global president and chief client officer, Real Chemistry
One of the biggest challenges shaping industry thinking in 2024 will be how we enable innovative science to impact the lives of all those living with cancer. The market for cancer therapeutics is growing like no other, but as more breakthrough medicines land in-market, oncology practice is struggling to keep up, meaning patients are missing out on their life-changing benefits. We must approach cancer differently as it changes from an acute to a chronic disease. In some cases, the perception that cancer is a death sentence is no longer the reality, and the system must adapt to that. Health inequities are rife across the board, with disparities in everything from clinical trial representation through to healthcare delivery leaving an indelible imprint on outcomes. The inequity is now easily identified through huge data stacks and technologies like AI. That data can be a curse and a gift, depending on how we use them. In 2024, our role as communicators and collaborators will fundamentally shift the mentality around cancer, choosing tools and data wisely to create solutions that accelerate equitable access to cancer care for all. — Claire Gillis, CEO, VML Health
What’s ahead in 2024? I believe that in the year ahead, we will continue to see technologies evolve and efficiencies skyrocket. AI, machine learning, natural language processing and so many other technologies will continue to converge, powered by unmatched data sources, to change how we work. We’ll see better patient experiences, easier ways for physicians to connect with patients and more personalized communication and care will continue through platforms like omnichannel, generative AI and more. — Faruk Capan, chief innovation officer, Eversana and CEO, Eversana Intouch
2023 was the year of doing more with less in marketing, shaping an urgent demand to innovate brand commercialization for healthcare. The rapid acceleration of AI is finally opening pathways to unlock the content supply chain, providing doctors, patients and communities with optimized brand connections. The transformative effect will continue in 2024, breaking down long-established silos and norms as the industry pushes toward integration and greater impact. — Angela Tenuta, president, Eversana Intouch
2023’s most interesting (or unexpected or weird) trends: Although antibody-drug conjugates have been around for several years, there has been a renaissance in interest and appreciation for this approach across tumor types. A prediction for 2024: combinations of established and newer drugs will continue to expand treatment options across the treatment continuum for patients with cancer. — Lisa Green, SVP, medical director, Ogilvy Health
Working in skincare, the most interesting trend for me in 2023 was the emphasis on skin health among Gen Z. On platforms like TikTok Gen Z surprisingly shows more interest and engagement with skincare brands than the leading beauty brands. Younger Americans see skin care as part of an overall wellness lifestyle. They recognize skin health as the most effective and sustainable beauty tip. In 2024, I expect that we are going to continue to see a trending convergence between health/wellness and beauty. Traditional notions of beauty will focus more on health. Brands that play more in the beauty space will become more health centric and promote healthy values such as body positivity. This will also encourage a broader audience to participate in categories like skincare that sit within the cross-section of beauty and health. For example, I expect a trending rise in skincare use among men. — Carlos Dorenbaum, VP, planner, Ogilvy Health
The high impact of having an influencer strategy in pharma marketing unexpectedly became real in 2023. 2024, on the other hand, will be the year of “Back to Brand,” because it transcends all the churn, new technology and the whiplash of chasing short-term trends (or maybe it is just wishful thinking). — Cara Levinson, SVP, planner, Ogilvy Health
Three key phrases to keep in mind for 2024 are transparency, credibility and ingenuity. As the GenAI and omnichannel spaces continue to mature, transparency around data sources, data capture practices, and overall privacy and overall consent management will be further elevated. Credibility of content will require novel practices and partnerships to ensure credibility and accuracy. Lastly, ingenuity that artfully combines the inventiveness of human talent with new AI tool sets has the possibility to revolutionize the health experience. — Will Reese, chief innovation officer, Evoke
Automated content approval will be piloted with at least one Fortune 500 Pharma company’s brand. The combination of AI content compliance prediction and AI content generation will make real-time AI-generated content (not just modular content) creation and deployment possible. — Ari Schaefer, president, Klick Health
More and more clients will unwind their agency network consolidations when they find they’re not getting enough diversity of thinking, enough diversity in concept creation, nor enough diversity in creative problem solving. — Rich Levy, chief creative officer, Klick Health
AI is going to have a very large impact on marketing and promotion, which is why we’ve been experimenting with different new-generation AI technologies in people-centric ways. We have conducted nearly 100 internal workflow experiments, and we’re now starting to embed AI to help us plan, anticipate problems, and evolve our creative, while keeping a close eye on ongoing copyright issues. — Alfred Whitehead, EVP, Klick Applied Sciences
GenAI made a big splash this year, but we haven’t seen anything yet! As we move into 2024 things will pick up even further. With the U.S. FDA currently recruiting new advisors to oversee AI regulations across life science interventions, we’ll soon witness the introduction of new models for providing medical care, new products, and solutions only now being imagined. Citizen software developers and data scientists will disrupt established institutions, but also improve the lives of countless millions. As the year concludes in the US, our next President will oversee the 4 most formative years in American history in 3 generations, as the fifth industrial revolution kicks into high gear. Buckle up, friends, it’s going to be a wild ride! — Matt Lewis, global chief artificial and augmented intelligence officer, Inizio
The continued rise of community: In light of decreasing trust in science in an increasingly polarized society, it’s more important than ever for medicine creators to build connections with patients, advocates, and influencers. — Brenda Aske, chief strategy officer, Biolumina
Amidst all the talk of generative AI and marketing automation — and yes, those tools will be hugely impactful — the one thing I am certain we’ll see in 2024 is more human, more ambitious healthcare marketing. Never before has our culture needed more accessible healthcare communications. Never before has the creative bar or the audience expectation been higher. Never before have all those familiar advertising tropes been more familiar.
So, more meaningful engagement! More candid communications! More daring campaigns! And yes, some of those more-human ideas will be imagined with our artificial partners. — James Talerico, president and chief creative officer, Heartbeat
While healthcare organizations have long understood the value of protecting reputation, the attention to propelling reputation was greater than ever this year. In 2024, we’ll see more healthcare companies prioritizing their corporate stories and looking for authentic, transparent ways to show up, actively shaping their reputation and capitalizing on the public’s interest in corporate brands. — Kristin Cahill, global CEO, GCI Group
In 2024, the U.S. healthcare industry will fundamentally shift — by staying exactly the same. We won’t see new trends, but rather a continuation of the disruptive trends we see today (consolidation, investment in innovation and R&D, personalized medicine). Their effects will continue to upend how we think about healthcare next year and beyond. — Josh Righter, associate managing director, Amino, a division of Calcium + Company
Pharma and healthcare companies will re-think approaches to omnichannel planning, design, and execution, from precision-reach to content-driven personalization to dynamic orchestration. The focus will be on personalization enabled by martech, data analytics and GenAI. Harnessing the ability to measure and optimize engagement on an ongoing basis, from the voice of the customer through to brand impact will take center stage. 2024 will be about using creativity and technology to deliver great customer experiences to create greater impact. — Joanna Ruiz, managing creative director, Deloitte Digital
2024 is going to be a return to the old, but with a new-age spin. Agencies will go back to more traditional forms of storytelling, that’s more product/service centric and less about societal causes. Technology will be used to tell these stories in new, creative ways, highlighting real consumer experiences. Social influencers will probably be utilized more than ever since they are the gatekeepers to the media we now primarily consume. — Shamel Washington, associate creative director, Deloitte Digital
The healthcare and consumer industries are going to blend in 2024. Technology will put individuals front-and-center as consumers of their own health. This industry landscape change will create new collaborations between industries where brands work together to create products and experiences for the benefit of lives everywhere. — Aaron Sidorov, group creative director, Deloitte Digital
In 2024, advertising will become more personalized with AI and immersive tech leading the way. Cultural shifts will drive more authentic, inclusive narratives, turning ads into engaging conversations. The patient journey will become more fragmented as online sources gain prominence. The future? Adapting stories, embracing tech, and making a real impact on culture and society will define healthcare advertising’s trajectory. — Angela Williams. creative director, Deloitte Digital
In 2024, we’ll continue to see prescription drug prices lower due to inflation regulations and loss of exclusivity for many of the most profitable biologics, which will drive big pharma toward a record number of strategic acquisitions and pivots into new therapeutic categories. With these changes, our clients will need strong strategic support and flexibility from agency partners through the acquisition process, ensuring their teams are adapting and brands are still being supported. Additionally, large pharma companies will look to med comms partners to create clear and unified narratives for new business units, portfolios, and brands within highly specialized therapeutic areas in which they are now a new player. — Nancy Partington, MD, director of medical affairs, Minds + Assembly
There will likely be an increased reliance on real-world data and analytics to better understand the consumer journey, their behavior, preferences, and trends–some of which will be powered by AI. But as our industry continues to rely on regulatory reviews, privacy will again become an issue that comes to the forefront, either in conjunction with or affecting data collection. — Greg Varghese, director of technology, Minds + Assembly
Just like your favorite movies, get ready to see classic remakes of iconic ads, brands, designs, fashions and faux pas — even in healthcare advertising. This past year brought us Barbie, a brand repositioning masterstroke. We can expect more of this in 2024. It will be less obvious, perfectly integrated, subtle, and precise; or it will be as obvious as a pair of Oakleys. — Joe Temple, director of brand experience, Minds + Assembly
Anything that is currently a rate-limiting factor to widespread AI adoption will be on trend, because we’ll have no choice but to solve for it quickly: User interface design. Baked-in biases. Accessibility shortcomings. Strategy. Culture. Process. Privacy. How can we apply this technology to expand human capacity? Inventive answers to that question will shape 2024 and beyond. — Nick Spuhler, SVP, activation and engagement strategy, Fingerpaint
2023 marked another year where federal and state lawmakers heightened healthcare regulation to address concerns over rising costs. Active efforts by all industry stakeholders to address affordability and to enhance the patient experience while simultaneously driving business growth contributed to the ongoing transformation of the interlocking ecosystem. Downward pressures are being redirected from payers, organized provider groups and trade and distribution stakeholders. In response, drug manufacturers must increasingly prioritize the integration of U.S. market access into 2024 commercial strategies and beyond. — Cameron Izadi, SVP, Fingerpaint Market Access
With wearable technology, on-demand telehealth platforms and supplements promising everything from hormone control to enhanced mental health, people are taking their health into their own hands. Some consumers are now choosing to completely bypass the traditional doctor’s office visit, getting readings of their vital signs and even blood glucose levels via digital platforms. Have a health ailment? Chances are there is a social influencer peddling a supplement for it. Short on time? Click a button to schedule an instant online doctor’s appointment. Today’s consumers want healthcare on their terms – and no longer have to look far to find it. — Rebecca Masini, VP, group director of engagement strategy, DDB Health
Strike a combination of AI and human expertise to create personalized brand experiences: While brands have expressed excitement in AI, greater use of the technology will continue to grow into the future. This is the year where more AI-driven campaigns that supplement human decision making will help brands to create optimized and tailored touchpoints with their customers. From chatbots that enable 24/7 personalized interactions with brands to get real-time answers, to AI deploying the next best piece of content with a custom subject line, there are a spectrum of AI applications that can help to enhance customer interactions with brands. — Kelsey Weston, VP, engagement strategy, DDB Health
- Digital health did not die with the demise of Pear Therapeutics, Babylon Health and Olive AI. It will morph into something more practical. The long-anticipated shift from enthusiastic, opportunistic investment to savvy dollars entering the sector is underway.
- The hospitals will seek to digitize everything that doesn’t require human touch in the next two years, from patient health records to scraping patient information files to capture reimbursement codes, perfecting Chatbot for consumer engagement and ChatGPT summarizing patient visitation history for medical staff.
- Edison failed 2,774 times and then reached a working design of an electric light bulb. A new generation of digital therapeutic C-suite leaders will recognize their companies compete with or complement NDA-approved drugs.
- To succeed for patients, providers, and payers — and their investors — digital DRx leaders will think and act less like flashy tech companies and more along the lines of biopharma researchers pursuing comparative trials with far more participants.
- Hospital systems are among the nation’s biggest polluters, occupying 4.8% of the total area of commercial buildings but using 10.3% of total energy consumption. A sector dedicated to saving lives will soon lead the effort to sustain and save the planet.
- EMRs and telemedicine can (and will) reduce paperwork and in-person patient visits, and the carbon reduction can equal 19,200 acres of forest saved. Digital health information technologies will be time and cost savers in the carbon-zero movement where health systems can lead. — Gil Bashe, managing partner, chair, global health and purpose, Finn Partners
The pandemic showed us the appetite the public had for deeper science. In 2023, that appetite for deeper dives into science continued in the news. As if prior to the pandemic, science communications was considered too complicated (and isn’t that sort of like assuming everyone hated math in middle school?). It has been incredible to see the continuing public interest in how things work” — climate change and vaccine production, to name two. I see that passion for science detail in marketing expanding in 2024. Agencies that understand science are somewhat rare, but they do exist, and their star will continue to rise as the demand for clear, balanced science information continues. — Susan Stipa, EVP of biopharma life sciences, CG Life
As we look ahead to 2024, we are seeing a growing demand for streamlined, consolidated market access approaches to three parallel commercial journeys: the reimbursement journey to ensure medications will be covered financially — from payer decisions to copay support, the distribution journey to ensure that drugs physically reach patients through the most appropriate, efficient channels, and the patient journey to eliminate (educational, financial, logistical) barriers to access from the time of diagnosis through ongoing treatment. Because strategic planning for these journeys must start long before commercialization and continue well past the loss of exclusivity, manufacturers are seeking vendor partners who can effectively advise, design, build, communicate, analyze and optimize across all three journeys, eliminating silos and maximizing the efficiencies that come from embedded knowledge traveling from one workstream to the next. — Megan Hall, EVP, executive creative director, Entrée Health
In 2024, the healthcare marketing landscape will be transformed by the integration of advanced artificial intelligence technologies. Tools like Jasper AI and ChatGPT are set to become pivotal in crafting highly personalized and effective marketing strategies. These AI-driven platforms will enable us to gain deeper insights into patient needs and preferences, allowing for more targeted and impactful campaigns. However, it’s crucial to remember that these technologies are facilitators, not replacements, for the nuanced strategic thinking and deep audience understanding that are the hallmarks of exceptional marketing. The real magic will happen at the intersection of AI’s analytical power and our human expertise, where we can harness these tools to not only meet but exceed our clients’ expectations in a rapidly evolving digital healthcare environment. — Jack Vance, managing director, data and activation, IPG Health and Solve(d)
Artificial intelligence will begin to play a significant role in agency workstreams to help improve the efficiency and effectiveness of marketing communications. Whether it’s converting data to insights, mapping customer journeys, increasing the speed of creative workflows, or analyzing performance, AI will become a core component of agency processes in 2024.
Veeva reported the volume of digital content in pharma increased 60% last year and the demands on MLR teams have increased significantly. Compiled with the demand for more customized communications to increase customer engagement, agencies and clients will need to adopt development of much more modular content in 2024 to achieve more with limited budgets and resources. — Jay Bolling, president, Benchworks
Digital Transformation: Going into 2024, we are seeing infrastructure built at a rapid pace to access data and technology in an on-demand and distributed fashion. Forms of marketing that do not leverage digital transformation or move these things forward will be deprioritized and potentially defunded. Agencies must rethink the strategies they are putting in front of clients and take a fresh look through the lens of digital transformation to achieve a competitive advantage. — Kimberly Jones, president and CEO, Butler/Till
We have seen a rise in the focus on building internal brand and culture, and think this trend will skyrocket next year. In a recent study, 76% of employees said they consider their workplace a community and want to feel part of it. Companies know that culture is a gamechanger. When it’s humming, everything works. When it’s off, everyone feels it. Engaged employees are more invested and inspired. From here, all good things flow: retention, innovation and growth. — Becky Gilligan, SVP client service, Pivot Design
AI is poised to reshape healthcare marketing and the entire healthcare industry in ways beyond our current imagination. AI will enhance user experiences through personalized healthcare messaging, refined audience targeting, and automated content creation at scale. AI’s impact will be seen in democratizing healthcare access, establishing more access points and AI-powered insights between publishers and patients/healthcare providers through tools like virtual assistants, telehealth solutions, and predictive analytics. — Jill Kregel, head of partnerships, health, Initiative
Internationally, I predict we will finally see a big increase in the use of data for targeting HCPs with marketing materials. GDPR is something that every marketer across Europe is conscious of, and other markets like Canada have similar regulations we must always follow, but we’re seeing an increased appreciation that we can use more granular targeting and data to develop paid media campaigns and drive personalization in GDPR compliant manners. This change will have a huge impact on how we advertise to HCPs outside of the U.S. — Matthew Durham, director, global media, CMI Media Group
2023 has been an incredible year for omnichannel innovation along with the comfortability of modular content in marketing campaigns. We are excited to see and lead continued growth in this area, with brands going from the crawling and walking stage of omnichannel to implementing the ability to run and scale. AI is still in its infancy, but agencies are finding thoughtful ways to incorporate AI into their service offerings. We see more and more agency teams, from project management and creative to development and strategy, harnessing the power of AI to help automate tasks, and we believe by the end of 2024, up to 50% of all departments will use GenAI daily, allowing for more strategic work and critical thinking, which will elevate creativity in our industry even further. — Frank Burrell, partner, Deerfield
Patient-centricity will evolve from a buzz phrase to a way of life for the biopharmaceutical industry and its agency partners. AI will further democratize access to data that will help craft and target content; however, it will be the companies that humanize the delivery and patient interactions who will provide real benefit to everyone involved. — Tom Sproat, chief strategy officer, ClinicalMind
Innovations in healthcare AI are proliferating at lightning speed, which have been built upon years of data science research. Doctors, researchers, marketers and field teams — like healthcare consumers — are taking a giant leap into AI’s transformed counterworld. Given commitments by industry and global regulators to increase patient diversity in clinical trials, study sponsors and CROs in 2024 will press every AI lever to deepen understanding of how diseases affect diverse communities and ensure trial enrollment accurately captures that distribution. Already, combining AI with decentralized clinical trial protocols, industry leaders can study AI-generated maps of the U.S. zip code by zip code, examine prescription data indicating disease patterns, go to clinics in those zip codes and find patients who would benefit by participating in a trial.
The drive to adopt AI tools as fast as possible is not that complex in healthcare because patients’ lives hang in the balance. Any AI breakthrough in healthcare that doesn’t elevate the interests of patients, families and their care teams is a distraction, an obstacle or a bug. — Terttu Haring, president, clinical sites and patients, Syneos Health
The most successful agencies will be those who use both generative and analytical AI to reach millions of individuals in the right place/time/channel to drive the most impact for their clients. Brands will start to move away from consolidated holding company agency teams and towards the specialists who are the best at what they do. And it’ll be all about people, people, people: The agencies who invest in their people as fierce individuals will have the most engaged talent base who drive the best work and most growth. — Shari Reichenberg, regional president, Rapp East
As a result of client desires and expectations that their agencies use AI, we’re going to see heightened pressure on all agencies that bill by the hour to lower their fees/estimated hours. As a client recently said to me, “Why should we pay the same as we did previously, if AI enables faster work and less billable hours?” — Mike Myers, president, CrowdPharm
The industry will continue to evolve significantly in 2024 with respect to funding and access to capital. Although it feels a lot like 2008/2009 for our sector, there are a couple of key differences, specifically the robust growth in the markets and the continued technology sector access to funding. That being said, I believe that there is some biopharma funding fatigue, versus a lack of overall interest by VC’s and others to put their money to work in some capacity. — Tim Arendt, managing director, consulting, Spectrum Science
2024 is going to be the year of doing more with less. As we’re all constantly being challenged by this notion of constrained resources, content reuse strategies that span functions is something that will see increased interest in 2024. Buying various services from a connected strategic platform, with one strategic partner, offers a view into what’s happening and being created across an organization, making this a seamless practice. — Michelle Strier, chief strategy officer, Spectrum Science
From a creative standpoint, Generative AI has catapulted us all into the age of execution. Now everyone has the power to whip something up (agencies, clients, influencers, etc) — so it’s easy to get drunk on the polish of an “idea” and how it looks. But doing more with a lesser idea will always be less desirable for all stakeholders. As we move forward, the core idea itself must be held to an even higher level of scrutiny – and agencies that can deliver will be indispensable to clients. — Justin Rubin, chief creative officer, Spectrum Science
The turbulence in the marketplace and life sciences industry this year (lots of restructuring, unpredictable funding conditions, etc.) certainly fueled a “do more with less” mindset. But it also necessitated that many of our client partners turned to their trusted outsourced agency and advisory partners to act as necessary continuity as life sciences organizations changed, and clients were tasked with continuing to advance innovation. As we go into 2024 and the market continues to evolve, those durable client/outsourced partner relationships can truly continue to unlock value and innovation in many ways – as an extension of resources, as thought-partners, to pilot new ideas and test new working models. — Amy Hutnik, chief commercial officer, Spectrum Science
Innovation is happening at a record pace, meaning medical advances that once took years can now happen in weeks. Each year, the marketing community is introduced to new technologies, new products, and faster delivery that promise huge returns on investment. The metaverse, augmented reality, voice search, and wearable tech have all promised to be the next best engagement engine. However, none of them have lived up to the hype and disrupted the market in a meaningful way.
All technology has its place, but real disruption comes from an informed omnichannel approach, utilizing the tools appropriately by managing customer insights through effective data-driven, personalized experiences. We’ve seen how technologies such as AI, customer data platforms (CDPs), personalized marketing, and automation can become successful tools when seamlessly attached to a strategy and delivered to a targeted audience.
The tools are there, and the data and the insights are there. What is missing is the investment in organizing data and using behavioral learning to make the best use of emerging innovations. Market disruption will happen through the effective implementation of predictive decision-making engines based on audience learning behavior combined with rapid content creation covering a range of variations. — Jeff Erb, chief media officer, Avalere Health
The systematic study of human behavior continues to be important in an increasingly dynamic and complex healthcare environment. Stakeholders from the World Health Organization to pharmaceutical and digital health organizations are increasingly leveraging behavioral science to solve healthcare challenges, including vaccine hesitancy, gaps in healthy lifestyles, treatment engagement and adherence and beyond.
Healthcare organizations can leverage human-centered and behavioral science-informed approaches alongside disciplines such as real-world data analysis and omnichannel engagement to drive behavior change. Leveraging a combination of technological acceleration and a deep focus on the human side of healthcare, we can optimize and scale initiatives and further understand and engage populations more effectively. — Leah Carlisle, managing consultant, Avalere Health
In 2024, the convergence of predictive and generative AI will be at the core of many digital marketing strategies. Predictive AI will continue to get better at analyzing large data sets to pull out the right information, creating more accurate customer profiles and segments, and generative AI will become more prevalent in content development and optimization. This will drive audience-driven content variations based on individual learning preferences and consumption habits.
However, even with these incredible technology advancements human expertise is still the secret sauce. It will take a combination of insight, strategy, creativity, and the right technological ecosystem to strategically combine AI with other technologies to personalize interactions across touchpoints, channels, and time. This will make communications more relevant, more meaningful and more human. — Geoff Thorne, chief technology officer, Avalere Health
Over a year into the implementation of the Inflation Reduction Act, the market is feeling the effects of the most significant provisions. Medicare Part D plan offerings, premiums, and formularies for 2024 already show signs of payer response to new financial pressures stemming from the law. At the same time, CMS is beginning Medicare negotiation meetings with selected manufacturers and holding patient-listening sessions. Negotiation will have ripple effects across therapeutic markets, requiring manufacturers to reassess strategies now to stay ahead of the changing drug landscape.
Manufacturers should consider how Medicare negotiation may interact with state efforts to set new upper payment limits. Some products will be negotiated by CMS and reviewed at the state level at the same time, while others may be subject to a UPL ahead of Medicare selection. There are cascading implications for pricing and value demonstration that raise new risks, even for drugs that are exempt from negotiation. — Milena Sullivan, managing director, Avalere
As Medicare price negotiation is implemented, manufacturers know that they will need real-world data, patient outcomes and other evidence to demonstrate a drug’s value to payers — not only for the drugs being negotiated, but also for their competitors. This need for more evidence is happening while we’re also exploring the uses for artificial intelligence in healthcare. In 2024, these trends will coincide as industry considers how to use AI algorithms to target, generate or publish evidence in a faster, more streamlined, more efficient way. — Sarah Alwardt, president, Avalere
2024 will be a strong growth year for pharma as optimism is on the rise in the U.S. and globally. Gene therapy, AI and an improving economy will provide significant tailwinds. Political polarization, as well as global conflicts, will potentially act as a countervailing force. — Jeff Berg, president, AbelsonTaylor Group
Data will play an even larger role in determining marketing strategy as audience targeting and omnichannel engagement will continue to expand and become more sophisticated. — Amanda Powers Hand, chief marketing and media officer, Greater Than One
In 2024, I predict we will witness sustained advancement and widespread integration of AI across all creative avenues. Within the design industry, the ongoing trend will involve the utilization of AI-driven generative design, which will aid in not only the creation of diverse design campaign options and innovative solutions to client problems but also increase the speed at which projects can be completed and put into market. — Jeremy Howell, associate creative director, Greater Than One
The use of AI will only increase exponentially in 2024. Creative teams will utilize AI to accelerate their processes, and their thinking and expand their ability to create ideas. Like a painter with a brush, we guide and direct AI just like many of the other tools we have at our disposal. AI will become an extension of each creative, making them almost bionic in their abilities…empowering them to create faster, smarter, and better. We are already seeing this through the integration of generative AI into the tools we use daily. The possibilities for the use of AI in creative development are endless, but truly good creative cannot be done by AI alone. It must be prompted, directed, and guided by the creativity within each of us. — Pilar Belhumeur, executive creative director, Greater Than OneIn 2024, I imagine the media industry will continue moving towards personalized, interactive content experiences – across all audiences. And I think the rising use of AI, especially for AI-driven content creation, will support this trend by continuing to revolutionize storytelling and audience engagement, fostering an evolution of dynamic, tailored media strategies and experiences. — Italia Marr, media strategy director, Greater Than One
