When Precision For Value (PFV) was placed under the new Precision Value & Health (PV&H) network umbrella in September 2017, its place in the new corporate hierarchy was affirmed. It would be the point agency for all things related to payer and access strategy, with siblings Precisioneffect (traditional full-service), Precision Health Economics (policy research/economic analysis) and Precision Xtract (value evidence planning/HEOR) occupying similarly distinct niches within the larger organization.
To hear PV&H president Dan Renick tell it, the restructuring of corporate assets paid dividends in 2018, with each of the agencies benefiting from proximity to the mothership. He believes that wins from Pfizer and Lexicon Pharmaceuticals were attributable to the new company model.
“The RFPs specifically expressed a multi-disciplinary need,” Renick recalls. “The companies wanted to ensure that what would be offered would be cohesive and integrated and include professional and consumer activity, market access work and some medical communications,” Renick recalls.
Maximizing opportunities of this nature falls right in PFV’s wheelhouse. New clients accounted for 60% of the agency’s growth in 2018, though revenue was flat at $52 million. PFV counts 240 staffers under its five roofs in North America.
In tandem with Precisioneffect, PFV claimed business last year from Amgen and Greenwich Biosciences. These and other wins bolstered the agency’s number of AOR assignments from 20 to 23. PFV also substantially grew its number of project-based assignments, from four to 17.
Renick notes that much of PFV’s project work has come from smaller biopharma companies. “Our model was built for them,” he says. “They are smaller, don’t necessarily have the resources to manage a large group of vendors and work on shorter timelines, so working with us is appealing to them. We can get work done cost-effectively and make sure information is shared in an efficient manner.”
PFV also saw expansion within its own C-suite. In December 2018, the agency elevated two of its EVP/managing partners — Carlos Delucca, who has been with PFV for five years, and Kelly Wilder, who joined in 2008 — to the role of co-president. Then, at the start of 2019, PFV launched a value-based strategy practice and promoted seven-year agency veteran Maureen Hennessey to lead the group. The practice has been charged with creating educational sessions on the integration of population health and patient experience into various areas of its client businesses.
“Our clients and customers are going through seismic shifts and looking for novel partnerships to better manage the total cost of care and the patient experience,” Renick says.
Finally, in April 2019, PFV added three members to its Access Experience Team, a group of 22 former market-access executives with deep ties to the payer community. Among the three new appointments was VP Ryan Cox, who recently worked at Highmark Blue Cross Blue Shield. —