Life Sciences and Healthcare

Biktarvy poised to help Gilead recapture share in the HIV market

This article is part of an ongoing blog series profiling the 12 new, game-changing drugs predicted to achieve blockbuster status by 2022 in the 2018 edition of Drugs to Watch, the annual industry forecast and analysis from Clarivate Analytics. Read the full Drugs to Watch report here or follow the series for the latest updates. […]

Global push in med-tech innovation prompts regulatory reviews and upgrades

In country after country, regulatory review and change in the med-tech industry have become a constant. Authorities are “advancing with the changing health care landscape,” as one industry representative put it, striking an upbeat note on recent regulatory updates around the world. In China, authorities seek to streamline reviews and approvals to drive innovation and […]

How are Medical Device Companies Responding to Value-Based Healthcare?

Medical devices are an integral part of the healthcare ecosystem, and any changes to the functioning of this system can have a direct and significant impact on the device industry. A prominent trend in healthcare delivery has been the shift from a traditional fee-for service payment model to a value-based reimbursement model in which physicians, […]

GW’s Epidiolex becomes the first cannabinoid-based drug approved for epilepsy

This article is part of an ongoing blog series profiling the 12 new, game-changing drugs predicted to achieve blockbuster status by 2022 in the 2018 edition of Drugs to Watch, the annual industry forecast and analysis from Clarivate Analytics. Read the full Drugs to Watch report here or follow the series for the latest updates. […]

Going to the gemba: healthcare supply chain’s lean transformation

Created for the manufacturing sector in Japan, Lean Process Improvement is a philosophy and a set of tools that can help organizations optimize their performance. In the last 30 years, Lean has become ubiquitous in multiple industries beyond manufacturing, such as grocery and retail. Now it is increasingly finding its way into healthcare, with numerous […]

The three essential ‘E’s of the U.S. patient experience

In the decade since the Institute for Healthcare Improvement laid out its ‘Triple Aim’ framework, U.S. payers and providers have aligned on the need to deliver a better patient experience. Together with lower costs and improved outcomes, it’s one of the legs of the “three-legged stool” upon which the Affordable Care Act was constructed.  And even as policymakers try to take a chainsaw to that surprisingly sturdy stool, bettering the patient experience remains a lodestar of health reform efforts and a key differentiator for new market entrants from the tech world (e.g., Amazon, Apple and Oscar) as well as incumbents like Geisinger and CVS/Aetna.

To help our pharma clients help their customers deliver a better patient experience, we pored over our 2017 patient study data and identified three key areas of unmet need where brands can lend a hand:

Empathy: Medical schools began taking teaching bedside manner seriously in the ‘00s, and patient satisfaction has been engrained in our system as a financially-consequential KPI for hospitals and health systems. Yet patients tell us still they aren’t seeing much empathy from their doctors – 22% strongly agree that “My doctor doesn’t understand what it is like being a patient with my condition.”
 
Empowerment: “The Empowered Consumer” sounds so… Fifteen years ago? Yeah, yeah, we all have the Internet now, and 1 in 3 of us look up health info on our smartphones right there in the waiting room or exam room. But HCPs aren’t always great about involving patients in treatment decisions and contextualizing their options. Forty percent agree that they wished their doctor provided them with condition education materials that are personalized to their health situation, and 33% said condition info brochures they get from their doctor are too generic.
 
Expense: There’s a reason that half the real estate on Rite Aid’s homepage is devoted to cost savings and value for customers – 1 in 4 U.S. online adults tell us that medication costs are impacting their treatment choices more than they did two years ago (and pharmas, note that 12% of U.S. online adults say they switch Rx drugs based on which one has the best financial assistance program available!).

Pharmas have deep knowledge of the patient journey they can leverage to help physicians connect with their patients, and a storehouse of valuable tools and resources that doctors can share with patients to help them navigate that journey and afford the best treatments for them. There’s also a fourth factor – convenience (or Ease of Use, for the sake of consistency) – that pharmas can address by making their patient interactions as friction-free as possible – for example, by reducing impediments between scripts and fulfillment, or through beyond-the-pill value-adds that plug systemic gaps in healthcare connectivity.

Clients can check out our recent report, Patients Are Consumers Now: Lessons for Pharma in the Age of CVS/Aetna and Amazon, for ideas on taking a page from Big Tech and helping their customers better care for the ultimate end user, the patient.

Want to learn how to tailor experiences to best meet patient needs? Visit the DRG Digital client portal or request more information below:

 

 

 

European biotech on course for record year with $3.9B raised in first half of 2018

This is the second of a two-part series on Life Sciences Connect looking at the current robust financial climate for biopharma. “Biopharma IPOs gone wild,” also via BioWorld, the daily biopharma news service from Clarivate Analytics, appeared on July 10, 2018. European biotechnology firms engaged in drug development raised $3,904 million during the first half […]