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BioPortfolio | Best Practices Reports | Understanding Managed Markets: Effective Market Research Structures & Activities to Maximize Payers Access & Insights

Understanding Managed Markets: Effective Market Research Structures & Activities to Maximize Payers Access & Insights

This Best Practices, LLC benchmarking report identifies the Market Research structures and activities that best support the Managed Markets function in gaining payer access and insights around pharmaceutical products, as well as captures executives' best practices and lessons learned for working successfully in the current payer-driven environment.

Today’s physicians are rapidly losing their influence over patients’ drug utilization decisions and unfortunately a large number of bio-pharmaceutical companies have failed to recognize that third-party payers, such as government and commercial organizations, now control the vast majority of prescription drug expenditures. In fact, it is estimated that third-party payers in the Managed Markets sector currently control more than 80 percent of patient access to prescription drugs in the United States.Continued commercial success of pharmaceutical products depends largely on the ability of bio-pharmaceutical companies to evolve their MMMR (Managed Markets Market Research) structures to work effectively in the current payer-driven environment. A successful MMMR Structure should provide managers with tactics to easily anticipate and act upon the needs and wants of these newly empowered third-party payers. The companies who are refocusing their marketing strategies to strengthen their relationship with these Managed Markets organizations will see the greatest impact in their product’s commercial success.This Best Practices, LLC benchmarking report identifies the Market Research structures and activities that best support the Managed Markets function in gaining payer access and insights around pharmaceutical products, as well as captures executives’ best practices and lessons learned for working successfully in the current payer-driven environment.

INDUSTRIES PROFILED: Biotech; Pharmaceutical; Health Care

COMPANIES PROFILED: Amgen; Johnson & Johnson; Alcon; Solvay Pharmaceuticals; Novo Nordisk; Jazz Pharmaceuticals; Xanodyne Pharmaceuticals; Ther-Rx; GlaxoSmithKline; Sepracor; Abbott Laboratories

STUDY SNAPSHOT Best Practices, LLC fielded an online benchmarking survey with managers and executives representing Managed Markets or Market Research functions at leading pharmaceutical and biotech companies. Analysts then conducted in-depth interviews with selected research participants. The survey and interview collected benchmark data on the following aspects of Managed Markets Market Research (MMMR) organizations:- Current and optimal structure and organizational fit- Effectiveness of current structure- Pre-launch research objectives- Key global MMMR activities with greatest impact on strategic choices- Timing of activities by product development phase- Activities most effective for generating insights- Activities most effective for accessing hard-to-reach partners- Principal drivers of MMMR activities- Percentage of research that is qualitative vs. quantitative- Top Three most important types of pre-launch studies- Anticipated changes in resource allocation levels- Trends in use of vendors to gather payer information- Projected changes in MMMR focus- Best practices and pitfalls

KEY FINDINGS Among the findings that emerged from this research were the following:No Single Structure Is Optimal: Many structure types can work effectively for the Managed Markets Market Research function, and benchmark partners use several different models. A more critical success factor than the structure type is the level of research staff knowledge and understanding of the Managed Markets sector. Developing staff specialization and expertise is the key to making any structure begin to work from an MMMR perspective.Manage Resource Competition: Brand team and Managed Markets research projects generally have different targets (physician/patient vs. payer) and find themselves competing for resources and attention. Avoid MM priorities being defused or fragmented through resource competition. This can be a critical pitfall.

August 2009, Pages 66 Format PDF

Table of Contents
Table of Contents (PDF)
Price: $4,600.00 / €3,074.64

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