The Hidden Value of Patient Support Programs
September 2017
If you’re playing in the specialty medicines field, a patient support program (PSP) is the price of admission. But it can be so much more than that. The right PSP—matched to the company and the product—can yield big wins to all stakeholders along the specialty medicines value chain.
In the current model, industry often has PSPs managed by specialty service providers, who assume responsibility for coordinating reimbursement with insurers, supporting patients on the product, and liaising with doctors and patients. As part of this system, manufacturers often give out millions of dollars of free products to patients waiting for coverage. This compassionate service fills an important gap in the healthcare system but, if imperfectly managed, can lead to significant financial losses and missed opportunities. For manufacturers, it is important to remember that, in the eyes of doctors and patients, these programs are an extension of your company, representing you to these important stakeholders.
What if the manufacturer and specialty service provider worked as true partners, rather than in separate spheres? What if manufacturers came to see patient support programs as an engine of value, rather than a necessary but costly item on their balance sheet?
Here’s a realistic scenario: a pharma company and specialty service provider work together to design a program that puts both patient and institutional needs at the forefront. Patients get access to the product they need more quickly and receive the support services they value the most. The company achieves stronger sales. The program enables the collection of richer, real-time data to create dashboards and deliver product insights relative to physicians, patients, payers and lines-of-therapy — data that can help improve patient outcomes. Payers can use this data to make more equitable decisions about coverage. Everybody wins.