Dr. Timos Papagatsias’ Post

Thoughts on this? >> When Payers Become Producers: Inside the PBM Private-Labeling Trend >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #productmarketing #healthcare #biotech #pharma #pharmaceutical

Thoughts on this? >> The Top Pharmacy Benefit Managers of 2023: Market Share and Trends for the Biggest Companies—And What’s Ahead (rerun) >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #productmarketing #healthcare #pharma #biotech #pharmaceutical

Thoughts on this? >> The Top Pharmacy Benefit Managers of 2023: Market Share and Trends for the Biggest Companies—And What’s Ahead (rerun) >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #biotech #pharma #pharmaceutical #productmarketing #healthcare

The shift towards direct-to-consumer sales and services by pharmaceutical companies in the US has seen a surge in 2024 and appears set to continue. Spurring the trend are several factors including streamlined costs, the ability to directly gather consumer data, and a more abbreviated route for patient access. Think about the number of intermediaries traditionally involved in the established prescribing channels, and it’s easy to understand there may be opportunities for efficiencies and cost-savings. We are still in the very early days of this evolving space but it will be worthwhile to observe how this may impact the US healthcare landscape, and critically, patient choice and access. See link: https://lnkd.in/gfeApwSg

What's are "payer Archetypes" and why it is important to know them? In the world of pharmaceuticals, understanding payer archetypes is crucial for navigating the process of getting drugs reimbursed. These archetypes categorize payers based on their decision-making priorities for covering new medications. Why are Payer Archetypes Important? Firstly because it is completely linked to your product strategy: By understanding the archetypes of payers you're dealing with, you can tailor your value messages and also your approach to each one. This means highlighting the aspects of your drug that resonate most with their priorities, making your value proposition more effective. Secondly it is purely impact your market access: Payer decisions significantly impact a drug's access to patients. Knowing their archetypes helps you anticipate their needs and concerns, ultimately influencing how quickly and widely available your medication becomes. There are lots of different archetypes out there but few of them are the most Common Payer Archetypes: 1-Cost-Effectiveness: This archetype prioritizes value for money. They rely on methodologies that compare the cost of a drug with the health outcomes it delivers. 2-Comparative Clinical Effectiveness: Here, the focus is on how a new drug compares clinically to existing treatments. Payers assess the additional benefit your drug brings and may link that to a higher price point. 3-Budget Optimization: This archetype operates with limited resources and seeks ways to stretch their budget. They'll closely scrutinize drug pricing and may favor medications that demonstrate cost savings. 4-Competitive Rationalization: These payers balance healthcare benefits with maximizing profits. They might consider a new drug if it offers a significant clinical advantage or disrupts the market with a lower price. Important to remember: Understanding payer archetypes is crucial for pharmaceutical companies to develop pricing, access, and reimbursement strategies that align with the needs and priorities of each payer segment. #marketaccess #payerengagement #valueproposition #pricingstrategies

In the battle over drug prices, one sector of the healthcare industry has risen above all the players as the boogeyman: pharmacy benefit managers. In this special edition, BioSpace takes a deep dive into the lens now focused on PBMs’ business practices. #healthcare #pharma #PBMs #biospace https://hubs.li/Q02Vwyj60

Thoughts on this? >> The Top 15 Specialty Pharmacies of 2023: Market Shares and Revenues at the Biggest PBMs, Health Plans, and Independents (rerun) >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #pharmaceutical #productmarketing #pharma #biotech #healthcare

Thoughts on this? >> The Top 15 Specialty Pharmacies of 2023: Market Shares and Revenues at the Biggest PBMs, Health Plans, and Independents (rerun) >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #pharma #productmarketing #biotech #healthcare #pharmaceutical

Focus on GLP-1 drug prices and the broader pharma supply chain is likely to increase in the coming months based on new data suggesting accelerating healthcare cost trends among employer sponsored health plans in 2025. Employers are bracing for a full 7.8% increase in overall healthcare costs in 2025, the most rapid projected increase in healthcare costs in over 15 years. Read more from Business Group on Health's article in the comments below. Notably, the largest single driver of this increase is expected to come from spending on pharmaceuticals, including GLP-1 drugs. The median percentage of health care dollars spent on pharmacy grew from 21% in 2021 to 27% in 2023 with the vast majority of employers (~76%) being “very concerned” with pharmacy cost trends going forward. Also, most employers (56%) reported that GLP-1 drugs are impacting costs to a “very great” or “great” extent. Finally, employers voiced concerns about the practices of pharmacy benefit managers (PBMs) with nearly a third of employers saying that they will reassess their current PBM or request new bids from other PBMs. For 2025, employers appear to be willing to absorb most of these cost increases themselves. So, the impact on consumers may be muted -- for now. However, eventually, these costs will need to be passed through. In the meantime, we will be watching to see how employers plan to manage their pharmacy spend and the success/failure of different cost containment strategies, such as prior authorizations and BMI thresholds.

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