Ready. Set. Access.

Market Access Strategic Execution Consultant

Gross-to-net bubble

Collaborations Among Stakeholders

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Collaborations Among Stakeholders

How can us market access professionals (strategists, writers, editors, and everyone else) possibly do our work if we’re not curious enough to seek out our customers’ voice?

In market access, we often treat our asset as our own child and customers’ needs as a stepchild. This backfires on the business as the stepchild always turns out to be the Cinderella of the story.

Isn’t the goal of manufacturers, payers, and providers ultimately the same? To keep patients healthy enough so they stay out of the health care system? It’s just that the market demands each stakeholder to address this call in a different way.

AMCP’s Partnership Forum is a platform where these stakeholders collaborate on tactics and strategies to drive efficiencies and outcomes.

Tapestry Networks is another platform that brings together such stakeholders.

I wonder if there are other such collaborative platforms out there.

Today is the First Day of Your Product’s Life Cycle

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Today is the First Day of Your Product's Life Cycle

What a phenomenal shape the circle is.

Where does it begin? Now, where does it end.

Is it possible that the circle could’ve started at any another point?

Yesterday ended last night. Today is the first day of the rest of your product’s life.

70% of launches fail. There’s evidence to suggest that the first year sets the trajectory for the rest of the product’s life cycle.

Cycle = circle.

Even if your drug has already launched, do you get another chance to begin?

How you got here is not how you will get there. 

The asset inventory is what it is. It takes months-years to generate new evidence. What will you do in the meantime? Your product already has what it needs to penetrate the market in a way that no other product can–if you allow it.

Take a page from Zig Ziglar’s playbook: If you give them enough of what they want, they will give you everything you want.

Your Customers Should Feel Heard

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Your Customers Should Feel Heard

Everyone has a problem.

Believing that your customers have no problems is just as true as believing that everyone posting smiling photos on Instagram has no problems.

What’s the problem of your customers? What keeps them up at night? What makes it dreadful for them to come back to work the next day? Why are they right to think this way?

The sequel to this would be: How can you show up to delight them? But let’s not get ahead of ourselves. 

Customers feeling like they’re heard is in itself a TREMENDOUS stride forward.

Nurture trust. Nurture relationship.

If your neighbor knocked at your door with freshly baked cherry pie, would you accept it? What if a stranger did the same thing: would you accept it?

Effective market access teams can help save billions in revenue leakage

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Adam Fein of Drug Channels has slapped a whopping $153 billion label on the gross-to-net bubble problem—this was how much biopharmaceutical companies were losing in 2017 alone due rebates and other reductions. When biopharmaceutical companies are unable to make the case to differentiate their products, they end up having to provide massive rebates to payers (40%, 50%, 60%, and sometimes even more) in order to secure a favorable formulary placement.

Effective market access teams can justify the uniqueness of their products despite other players in the same therapeutic area. From my experience, there is a hook for EVERY product IF the right questions are asked. For example, “patients with which comorbidities can benefit most from my product,” or “which drug-drug-interactions does my product avoid, in contrast to the competitors,” or “patients with which genetic profile can benefit from my product?”

Market access may be complicated, but it’s possible as it is noble. Patients are looking to this team to ensure that they can gain access to the treatment they need. Furthermore, it’s the market access team that’s charged with helping to solve the $153 billion problem.

It’s time to make big strides and turn heads. Ready. Set. Access.

Krishna Patel, PharmD
Market Access Strategy and Execution Consultant
info@sojusllc.com
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