Developing effective messages and communications with payers is essential to ensure reimbursement for your new drugs
With health economics playing an ever-larger role in market access and reimbursement decisions, how can you communicate the value of your drug to gain acceptance and drive profitability? Eleven experts, including NICE’s Kalipso Chalkidou of and Lundbeck’s Barbara Ann Jaszewski, explain how you can gain long-term advantages by defining, assessing and telling the value story of your products before taking them to the market. Get Market Access Value Stories: Developing effective messages and communications with payers now.
Develop your proposition early: How this gives you a head start on others who leave it to the pre-launch phase Price and value are not the same: The right value story improves chances for optimal pricing You need to gather the evidence: Shape the story you tell according to particular international markets’ needs How best to construct a story: Experts offer their opinions on what works best The direction of travel for drugs companies: Value stories affect what drugs companies choose to pursue, as they align priorities to those of payer and patient Small companies may face particular difficulties Why they need to thoroughly assess the best way to develop meaningful stories New skills are needed for delivering stories appropriately with multiple teams involved
Key Issues Explored
When do you need to start planning for your value proposition? Do you need a consistent message across the board, or do different stakeholders and decision makers need different information? Do the benefits outweigh the cost and burden of creating a value story? How do you use a story to create value without reducing price? Who’s already creating effective stories and reaping the resulting benefits – even against cheaper 'me too' treatments? What is the most constructive way to work with payers to get the best result for your business?
Who needs this report?
Market access leaders – to find out how others are solving similar problems and understand the issues in play globally Executives of medical affairs and health economics and outcomes teams - to understand the increasing importance of developing and communicating strong value stories Market access advisers and consultants – as more pharma companies turn to specialists for advice, is your understanding of value propositions sufficient and up to date? Senior managers and executives of commercial teams - to see how value stories can impact commercial outcomes Anyone involved in designing, recruiting, executing or analysing trials – to see how the value story needs to be built in Access team hiring managers – to see if the changing portfolio of skills required to build effective value stories is lacking in their team
Barbara Ann Jaszewski, vice president, global pricing & market access, Lundbeck A/S. Katrien De Groote, founder, INNOSENS bvba. D Adam Plich, head of market access Europe at Teva Pharmaceuticals Europe. James A Bianco, MD, president & CEO at CTI Biopharma, Inc. Ashok Jha, European HEOR leader at a European pharma company. Kalipso Chalkidou, founding director of NICE's international programme. Rob Johnson, managing partner at Alacrita, a pharmaceutical, biotechnology and life science consultancy. Matt Storer, partner at Windrose Consulting Group, a healthcare consultancy. Robert Nauman, principal, BioPharma Advisors, a biopharma, medical device and healthcare consultancy. Leela Barham, independent health economist and policy expert. David Stern, chief commercial officer at Celmatix, a personalized medicine company focused on genetic diagnostics for fertility.
Table Of Contents
Market Access Value Stories: Developing effective messages and communications with payers 1Executive summary 1 11The market access environment is changing 1 12Defining the âvalue' of a product 1 13Using story to demonstrate value 1 14Creating the value story2 15Communicating value2 2Research objective and methodology3 3Introduction 5 31Defining market access 5 32The impact of pricing6 33Value and time to market8 4The market access environment is changing10 41Healthcare budgets are under pressure10 42The value story balances benefits, risks and costs 11 43The market access environments differs across Europe and the US12 44Pricing and value is the main barrier to getting drugs onto reimbursement lists 13 45Who are the key decision-makers?15 46HTAs have increasingly important roles in market access20
5Defining the âvalue' of a product 22 51Defining the value22 52Value definition and perception is variable23 53Showing the value is important in market access25 6Using story to demonstrate value 27 61The value story demonstrates the value of the drug over the price 27 62Focusing on the patient benefits28 63The quality of the story and the evidence is important 29 64Different perspectives of value: Company, patient and payer 31 7Creating the value story33 71The aim of the value story 33 72The teams involved 34 73When to begin considering value 35 74At what stage does a value story start to take shape? 37 75The shape of the value story 40 76Finding value post-approval 45 77 payers look for in a value story49 78Tailoring the value story to the audience 51 79Working with the payers 53 8Communicating value56 81Picking the time: Sharing product value information56 82Who in the organisation is responsible for delivering the story? 57 83Channels for effective communications 58 84Measuring the effectiveness of value messages 59 9What's next for value access stories?60 91Including real world evidence60 92Improving the cost-effectiveness of drug development60 93Merging the different notions of value 60 94Improving communication 61 95Sharing costs with social care 61 10Key takeaways: The challenges and solutions62 101Understanding why the value story is important62 102Knowing the key decision-makers62 103Shaping the story62 104Making sure that the stories are credible 62 105Having the right evidence62 106Ensuring that payers take the long-term view63 107Bringing in the experts 63 108Communicating the story63