Precision Advisors Digital Trends Study: What Payers Want From Pharma Can Vary

Aug 26, 2015, 14:34 ET from Precision Advisors

NEW YORK, Aug. 26, 2015 /PRNewswire/ -- Precision Advisors (www.precisionadvisors.com), a Precision for Value company, today announced additional findings from its 2015 Digital Trends Study of managed care executives on the types of information Managed Care Organizations (MCOs) requested and received from pharmaceutical companies. The study found that across all market segments, payers most frequently requested clinical data from pharmaceutical companies.

Payer segments are hardly uniform; while pricing and contracting information took second place for both Pharmacy Benefit Managers (PBMs) and Integrated Delivery Networks (IDNs), clinical guidelines claimed second place for MCOs.

Increasingly, payers want efficacy data, but also need context regarding where that data places a drug in the treatment paradigm. Payers also consider the total cost of care alongside the price of a particular drug. Data types that are hard to find or collate from other sources were especially prized by payers. International Classification of Diseases (ICD) codes, the universal standard by which countries tabulate population-wide morbidity and mortality data, were cited as a specific example. 

According to the study, payers request specific information from pharmaceutical companies (such as clinical guidelines) and they usually receive less than what they asked for. However, payers typically receive more dossiers and patient education materials than they request. The study indicates that pharmaceutical companies have an opportunity to realign their information to raise their relevancy with payers.

Pharmacy Directors Versus Their Medical Counterparts
Compared with their medical colleagues, pharmacy directors receive more pricing information and less data on quality measures from pharma companies. Medical directors request quality data more frequently from pharma. More than half (51%) of pharmacy respondents were very interested in receiving information through a managed care website.

"Whether crafting a tablet presentation, designing a mobile app, or mounting an e-mail campaign, pharma should view every project through the lens of the managed care decision maker," said Larry Blandford, PharmD, executive vice president and managing partner, Precision Advisors. "The results of the digital trends study highlight that understanding your audience and how they want information, whether based on their role or payer type, is just as important as understanding the data." 

Information Platforms
Surprisingly, payers ranked different methods of receiving information nearly the same. Between 33% and 44% of payers expressed high interest in 5 distinct channels of information distribution. Live events and web conferences were the most highly-ranked methods by which payers would like to receive information from pharma, with 44% of respondents selecting those channels in 2014. Receiving information through a managed care-focused website was a close second, at 43%. Interest in face-to-face meetings with pharmaceutical executives rose sharply from 30% in 2013 to 41% in 2014. E-mail communication was down modestly in 2014, with 33% of executives expressing interest in this method versus 40% in 2013. Interest in obtaining data from mobile or tablet applications was up 7% in 2014 (37%) versus 2013 (30%).

The Digital Trends Study, the only one of its kind in the industry, is more formally known as Digital and Data Trends in the Payer Marketplace. It was developed by Precision Advisors, a company that supports commercial excellence for global pharmaceutical and life sciences clients. The study offers detailed information on annual trends, key insights, and statistical analyses impacting MCOs. Interviews were conducted with pharmacy, medical, and quality directors at health plans, IDNs, and PBMs. 

About the Survey
A qualitative survey of 145 payer decision makers was fielded between August and October of 2014. Respondents included decision makers at MCOs, PBMs, and Integrated Delivery Systems and Networks. A more extensive summary and analysis of the survey findings can be found in the Digital Trends in the Payer Marketplace final report at www.precisionforvalue.com/trends-report/.

About Precision Advisors
Precision Advisors combines unrivaled real-world market experience with thought leadership and industry expertise to provide insight, strategy, and advice to innovative life sciences companies. Headquartered in Cambridge, Massachusetts, Precision Advisors' team of expert advisors encompasses all areas of the commercialization spectrum, including strategy consulting, managed markets, health economics, clinical research, and analytics. To learn more about Precision Advisors, visit www.precisionadvisors.com.

About Precision for Value
Precision for Value supports commercial excellence for global pharmaceutical and life sciences clients through the proficient demonstration of product value and outcomes. With locations in New York City, New Jersey, Chicago, Boston, Connecticut, Los Angeles, Oakland and Indianapolis, Precision for Value's teams provide clients with services grounded in decades of industry knowledge, demonstrated analytics proficiency, and marketing and communications prowess -- making Precision for Value the preferred strategic partner in the industry. Visit www.precisionforvalue.com for more information.

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