Managed Markets Market Research

Best Practices, LLC Business Excellence Board Strategic Benchmarking Research Managed Markets Market Research: Effective Structures & Activities for Gaining Maximum Payer Access & Insight

Table of Contents ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Managed Markets Market Research: Effective Structures & Activities for Gaining Maximum Payer Access & Insight

Research Objective Key Topic Areas ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],This client-driven research was conducted to help pharmaceutical and biotech companies build effective Managed Markets market research functions that can drive access to—and gain critical insights from—the increasingly influential Managed Markets sector. Study Objective & Methodology Best Practices, LLC undertook this research to identify market research activities and structures that are most effective for gaining access to – and gathering insights from – the increasingly important Managed Markets sector. This research was completed using two insight and intelligence gathering approaches: an online benchmarking survey of Managed Markets executives at leading pharmaceutical companies and in-depth field interviews with selected survey participants.

Definitions & Abbreviations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The following definitions and abbreviations are used in this study:

Sample Key Findings The following key findings and insights emerged from the field surveys and executive interviews: ,[object Object],[object Object]

Universe of Learning: Participating Companies Eleven leading pharmaceutical companies participated in this field research. Ten organizations contributed to the performance benchmark survey, and six participated through in-depth “lessons learned” interviews and discussions. Ninety-percent of participants are at the director level or above. Participants in Survey Only Participants in Survey & Interviews Participants’ Job Titles : EVP, Commercial Operations; VP, Managed Markets; Senior Director, Business Improvement; Executive Director, Managed Markets (2); Director, Managed Markets; Director of Marketing Research; Director of Strategy—Managed Markets; Associate Director of Managed Markets; Manager, Payer Analytics; and Director of Marketing—Managed Markets. Interview Only Survey Only Survey & Interview

Ad Boards & Team Meetings Have Greatest Decision Impact Q. Which of the following global activities have the greatest impact on strategic choices? (n=10) Ranking Scale: 1=No impact to 7=Very high impact Six out of ten participating companies rank payer advisory boards and use of a team approach to account meetings as the global MMMR activities with the highest impact on strategic choices or decisions. % Responses

Payer Advisory Board Success Strategies Payer advisory boards are a high-impact, high-value activity for capturing Managed Markets insights – in part because companies have developed strategies to overcome limitations of this vehicle. ,[object Object],[object Object],[object Object],[object Object],Strategies: Target a wider range of people within a payer company: “Most of the time we're all recruiting the vice-president of pharmacy or director of pharmacy. Look to people who are in charge of putting together dossiers. Who are those people and what is the information they look at when they're putting together a package for the P&T committee? Find medical directors working on a tech assessment that you should be targeting, because they're going to give you a very different perspective than are pharmacy directors. Pharmacy directors are thinking about placement on the formulary of a class of drugs and how you compete in that class of drugs. Medical directors will be thinking about what's medically necessary and what's not medically necessary.” – Interviewed Executive Reduce the size and change the name: “The big ad boards tend not to give you quality. One or two dynamic people often dominate and shut down the conversation. A group of four or five maximum gives us far better dialog. We don’t call them ad boards either—they’re focus groups now. We have had better success with smaller groups, not any different than getting a small group of physicians together at a society meeting—to give feedback. “ – Interviewed VP Payer advisory boards can be highly effective for gathering Managed Markets insights if companies use innovative strategies to overcome some inherent limitations.

Managed Markets MR Activities Peak During Phase 3 Phase 3 is the peak time for most global activities in Managed Markets market research, although some companies begin selected activities as early as the Pre-Clinical stage of product development. Earlier payer activities are a growing trend. % companies Q. During which product development phase does the Managed Markets MR staff perform each activity? (n=8-10)

Sample Best Practices: Structure & Communication Benchmarked companies shared some of their best practices for Managed Markets market research activities. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

About This Research ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Serving your Research Needs 1) Customize this Presentation: We can chart and present your organization’s metrics in comparison to this study’s benchmark class. 2) Access more Client-initiated Research: If you purchased this study, you may be eligible for a credit toward membership. To learn what you can access, do an advanced search at www.bestpracticedatabase.com . 3) Conduct your Own Study: Let our analysts assist you in designing your own questions for an on-line survey and/or interview. www3.best-in-class.com/ResearchConsulting Best Practices, LLC 919-403-0251 ● [email_address] If you want to visually compare your data with that of this study’s benchmark class, get more research on this topic, or you want to sponsor a study, see below.

About Best Practices, LLC Best Practices, LLC is a research and consulting firm that conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC research provides key directional indicators, proven business practices and executive insights to support organizations seeking to achieve best-in-class business performance. Best Practices, LLC 6350 Quadrangle Drive, Suite 200 Chapel Hill, NC 27517 (919) 403-0251 [email_address] www.best-in-class.com

Managed Markets Market Research

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