“You can’t manage what you don’t measure” – Peter Drucker
This well-known mantra proffered by the management guru Peter Drucker in the early 1960s still holds true today! Many successful commercial organizations rely to a great extent on measuring key performance indicators (KPIs) in order to monitor their successes, identify shortcomings and develop strategic responses to changes in performance.
For big pharma this remains common practice, leveraging healthcare provider, patient and caregiver data utilizing awareness, trial and utilization (ATU) tracking, and ongoing customer satisfaction studies. Surprisingly, industry has been slow to adopt such approaches when it comes to payers.
The importance of embracing the payer role
The commercial environment that confronts the pharma industry is becoming increasingly challenging and uncertain, not least because of the heterogeneous mix of stakeholders that need to be aligned to the value proposition. It is a well-acknowledged fact that payers are playing an increasingly pivotal role in terms of influencing “go/no-go”’ decisions at the expense of other stakeholders; i.e., HCPs/patients. So as we seek to establish a positive environment that supports access and uptake of new health technologies, one thing seems very clear: we need to do so in a way that addresses all key stakeholder groups, including payers.
The ability to monitor and assess payer metrics as part of the stakeholder mix presents pharma with a critical opportunity to shape rather than react to the market, therefore aligning payers with the product value proposition ahead of launch and beyond.
Four key components to enable greater agility and responsiveness to payer needs
- Leverage a payer tracker program. This is a key tool for supporting timely adjustment of commercial planning across the lifecycle to enable pharma MA professionals to:
- Support payer tracking activities. This is possible with a robust and rigorous predictive framework, which is fundamental to the design of a payer tracker. It must feature carefully designed KPIs which need to be actionable, replicable and measurable and reflect payer-orientated key drivers, including:
- Level of awareness (disease, unmet needs, perceptions of treatments)
- Willingness to pay
- Understanding burden of illness (economic, societal, humanistic)
- Product-specific KPIs
- Communication/engagement with pharma (frequency, mode, relevance)
- Launch activities (pre/post launch – clinical data, congresses)
Having established the baseline, clients are in a position to challenge commercial organizations to “move the dial” and to monitor performance pre- and post-launch against a set of tangible, measurable goals.
- Understand the highly heterogeneous nature of the payer audience. Take into account national vs. regional/local payer mix and also geographies (US managed markets vs. EU price driven vs. more mixed reimbursement APAC) to ensure that it reflects regional/local variations.
- Utilize dynamic reporting. A robust payer tracker offering should deliver “at-a glance” results across metrics, markets, target groups and waves and empower knowledge-sharing between local affiliate, regional & HQ teams.
GfK offers an innovative and robust payer tracker program
Our payer tracking is driven by our distinctive and rigorous methodology, supported by our global panel of over 5,000 payers and payer advisors across national and subnational levels. An online deliverable platform with dynamic dashboards displays, full in-view results across metrics, countries, target groups and waves can all be customized to your reporting needs.
Through our payer tracker program, we provide a unique opportunity to obtain the most in-depth understanding of payers; knowledge that will empower you to anticipate change and shape the market.
Meet with us at ISPOR!
Our team of market access experts will be at ISPOR in Glasgow, November 4 to 8 in booth #207 and would welcome a discussion around your payer challenges and how our payer monitoring program can get you on track! Click here to set up a meeting.
Santanu Das is a Vice President of Market Access at GfK. Please email email@example.com or leave a comment below to share your thoughts.