Pharma is living uncertain times. No denying it. But these times are interesting too, as the healthcare community is gearing up to cover all the bases ahead of what may come. How?
In our feature story, Meeting the Targets of Triple Aim, authors, Daniel Black and Joanne McHugh, say marketers can meet the goals of improving quality of care, lowering costs, and achieving better health outcomes—and it can be as simple as package redesign or as high tech as digital, chip-embedded pills that allow doctors to measure patient adherence. But drug costs? That’s tricky. Pharma is under the microscope as both patients and payers express increasing alarm at rising costs for often life-saving treatments. “Industry experts,” they state, “know that drug costs represent nine to 10 cents per dollar spent on healthcare.” But most people don’t. That makes promoting six-figure therapeutics anything but simple. But savvy marketers are demonstrating that it’s possible through creative and smart approaches.
“Smart” means pharma must be armed with solid insights into patients’ everyday struggles—cost, behavior, and numerous variables. That’s where predictive analytics comes in and it’s something pharma marketers are catching up with after other, less regulated industries have already demonstrated its successful use. Complicated, yes, but combined with empathy and understanding, brands can become more relevant to their audiences. See our feature, Using Predictive Analytics to Enhance Customer Interaction.
Also interesting: This year’s Greatest Creators special supplement. The off-the-clock creative works of our industry’s marketers gives us a window into the people who bring that same creative prowess to work with them. The original artwork of David A. Moore, Creative Director at the Patient Experience Project (PEP), the winner of our annual, one-of-a-kind, competition, colorfully graces the cover.
At the same time, our May issue is certain to grab interest as we once again present our ELITE Awards honoring the industry’s top Entrepreneurs, Leaders, Innovators, and Transformers. We’ll introduce you to the talented, high-octane individuals among us who consistently push the healthcare envelope further than we ever thought possible. On July 11, you can also meet our ELITE as we honor them at a celebratory networking event at NYC’s 230 FIFTH rooftop bar—you won’t want to miss it.
Anna is CEO/Publisher of PM360.