There's no denying that the right pharma industry is a constantly changing, fluid environment and it's often difficult to find your rightful place within the industry.
HUB services have been around for about a decade now. In the past, pharma companies were beginning to recognize that there was more involved in bringing new drugs to the market than just getting the dosages into distribution channels.
In addition to more common concerns, pharma was experiencing more and more restrictions from payers. Particularly, from the Prior Authorization (PA) form. This was very time-consuming and had to be filled out ahead of time by the prescriber.
Therefore, the HUBs focused more on reimbursement and prescriber support. Initially run in-house, as the use of HUBs broadened "prescriber support" to "patient support," third-party HUB service providers began to enter the market.
To date, this vertical industry shows no sign of slowing growth.
Technology has changed the healthcare industry in many areas. These areas include marketing and customer management. As we move forward, it's very likely that certain trends will expand and grow. Thus, impacting pharma and healthcare marketing and improving both sales and patient outcomes.
Here are five trends pharmaceutical companies should watch for and consider embracing in 2018:
A key component of any company is sales. The product or service must be sold in order for the business to continue running their business.
Pharmaceutical companies aren't immune to this requirement. This is why they run advertisements online, on the radio, on billboards, and on television. Yet, it's not only individuals with conditions and diseases that they need to expose their product to.
Pharmaceutical companies also need to convince doctors that their drugs work and could be beneficial to patients. It's for this reason that pharmaceutical representatives are sent out into the field, to speak with healthcare officials, and showcase the newest drug developments.
You can say it's the season for getting into awkward conversations with people you probably haven't seen since the last holiday gathering. While it's difficult to predict the array of questions you'll be asked, one question you're certain to hear a few times is, "So, what is it that you do again?"
Of course, you can just answer pharmaceutical sales management and let that be the end of it. Or, you could use the opportunity to evangelize that one specific role that has you excited to go to work each day: Sales operations.
Digital is transforming the way "sales" is done, and healthcare is no exception. According to GreatCall, around 80% of healthcare providers are using smartphones and medical apps daily in their practice.
More top pharma companies have a chief digital officer or chief technology officer while others are creating digital management roles at the senior level.
When you think about digital-forward initiatives performance across industries, do you feel that pharma is behind the curve? Are you unsure how to leverage technology to enhance the sales process? Are you worried about how the digital age will impact your position?
If you answered "yes," you're not alone.
Advances in digital technology have brought in a transformation in the Life Science industry and are playing a defining role in product deployment. It has also changed the methodologies of medical treatments. Artificial Intelligence is set to provide treatments to patients with personalized medicine. The digital age is basically going to set the life science industry into new horizons and thus enhancing personalized care. This infographic highlights some ways in which technology can impact the life science industry.
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