Staying Ahead in a Noisy Market
September 2017
If you think the specialty medicines market is crowded now, just wait a few years. By 2020, specialty drug-spend is expected to reach 50% of the total pharmaceutical market¹ — up from 30% in 2016.² And just a decade ago, the figure sat at 13%.² If you’re serious about building a stand-out PSP, here are some pitfalls to consider—and avoid:
1. Don’t rely on word-of-mouth when picking a specialty service provider.
The program used by your competitor may not be right for you. Same goes for that bare-bones, discounted program you’ve heard about. Educating yourself on this market and operating a full RFP process may take time, but will pay rich dividends for years to come.
2. Don’t take provider claims at face value.
A claim of “high adherence metrics” may sound impressive, but means nothing without hard numbers to back it up.
3. Don’t give up all control of your program.
After patient access, what is your top priority? Is it data? Supply chain efficiencies? Capturing physician feedback? Clarifying and communicating your needs will multiply the value of your program.
4. Don’t lock yourself in a rigid program.
Take feedback from the best data sources at your disposal—patients and doctors—and use it to fine-tune your program and change course if needed.
Want to get more out of your PSP? Let’s start a conversation
The bulk of evidence suggests that PSPs have a positive impact on clinical outcomes and adherence³—but only if done right. We invite you to get in touch with us to learn more about:
• Selecting and building your PSP
• Gathering data that will drive patient satisfaction and retention
• Containing costs through smarter and more efficient program processes
• Enhancing your offerings to meet industry’s evolving needs
References
1. Sun Life: Specialty drugs trends, challenges and solutions (2015).
2. Express scripts Canada drug trend report (2016).
3. Ganguli A et al. Patient Prefer Adherence 2016;10:711.