Startling facts about pharma include studies that show pharma & biotech will spend the vast majority of their budget to start a patient on therapy, but very little in comparison to keep a patient on therapy.
The long-term value of having patients get on therapy and stay on therapy is enormous. It is also essential to drive up outcomes in the areas of treatment, management and cures for so many people in need.
Patient centricity seems obvious for pharmaceutical and biotech companies yet patient centricity is not evident across the entire end-to-end value chain.
This affects both sides of the equation - clinical trials and post FDA approval commercialization.
Clinical Trials: Poor patient centricity has a direct impact on company success. It is documented that 30% of patients will drop out of a trial before completion date. Not listening to the "Voice of the Patient" and failure to clearly communicate with patients can cause clinical trial delays and ability to complete trials. This represents lost commercial opportunities due to delayed or denied regulatory approval.
Post Approval Brand Commercialization: Identifying unmet patient needs, access to therapy, insurance challenges, pre-authorization, co-pay, adherence & compliance, social determinants of health (SDOC) and requirements for in-home nursing services all play a major role in getting patients on therapy and stay on therapy.
True patient centricity is therefore increasingly becoming a key determinant of success for patients and biopharmaceutical businesses.
What is your brand's patient access & support strategy?
Check out the latest from UBC below.
#patientaccess #patientsupport #patienthubservices
Patient services are programs intended to help and support patients throughout their medication journey – to help patients overcome obstacles, to educate and empower them, and to provide ongoing support. Yet, Oxford simply describes a patient as a person receiving or registered to receive medical treatment. So, what are the ideal services to be leveraged when designing programs for the patient? Learn how UBC is putting the Patient back in patient services. Read more https://hubs.li/Q02NNVrt0