The current state of the U.S healthcare market is characterized by continuous flux and uncertainty. When compared to the overall healthcare costs, the drug costs have grown at a slower rate. Companies in the U.S. healthcare system are now exploring ways to combat these challenges and survive the mounting healthcare market access pressure.
Healthcare market access assists the right patients to get timely and easy access to medical services and products at an affordable price. Accessibility, availability, affordability, adoption, and willingness to pay (reimbursement) should be achieved while ensuring equity and quality at each level. Furthermore, multiple challenges and inefficiencies, and uncertainty in healthcare systems lead to unnecessary delays in access to innovative technologies, slow adoption of new and effective technologies, and inequalities in guaranteeing that patients receive the best-in-class treatment.
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Challenges in successful healthcare market access
Uncertain impact of reforms
The prevailing financial crisis is leading to reform across the board in healthcare systems. However, the key challenge remains in predicting how these reforms will really impact the pharma and healthcare market. Beyond price cuts, these reforms include the demand for real-world evidence that can be put to use either to alter price over time or to re-position the use of a product in the treatment pathway.
Technological research and developments often exceed the pace at which regulations are updated. New products are designed continuously to fulfill the unmet needs and the existing products are regularly optimized and improved. This rapid evolution of technology is a major healthcare market access challenge as companies often find it difficult to keep up with these constant changes.
Lack of resources
Governments and the payer systems have been expressing constant concern over the sky-rocketing healthcare costs. For better healthcare market access and financial sustainability of healthcare systems call for more effective and strategic public spending on health. However, this has raised concerns that even in strong, comprehensive health systems, austerity measures and cuts in public spending may endanger people’s healthcare market access and affordable care. The economic crisis has been blamed as the major cause for the drastic rationing and reductions in resources of the healthcare system. Often, the need for effectiveness may be misinterpreted to mean budget cuts.
Building an effective healthcare market access strategy
There is undoubtedly plenty of noise around healthcare market access right now. Given all the turmoil in the current healthcare system, especially around access-related issues, it behooves the providers of access programs to get rid of such challenges. Infiniti Research has pooled a host of their healthcare market access experts and has identified some of the most successful healthcare market access programs that follow these commandments:
This is one of the aspects that is often overlooked in multifaceted programs. It is essential not to position a product in one light to a provider and another to a payer. A healthcare market access program must represent appropriate use across the board. Marketers in the healthcare market must also consider that everyone involved in the supply chain is focused on value-based care and outcomes. As recently as a decade ago, the main themes in healthcare market access programs were efficacy, outcome, and cost.
Identify the focus
Access programs can’t go light on sending out messages about which stakeholders (such as physicians) care the most. The patient’s focus should extend beyond cost and condition. They are often overwhelmed when dealing with a diagnosis or in the case of an escalation of a condition. Healthcare providers have got to understand how patients feel emotionally about their diagnosis and it is vital to address that too.
Use social media
A highly effective healthcare market access strategy to disseminate information and create demand is by doubling down on social media. In fact, a popular company in the healthcare market used Facebook, home to numerous patient communities, to promote a recent co-pay program. The patients were given the opportunity to sign up and get a co-pay card. This healthcare market access strategy worked really well for the company.
How can a strategic market intelligence solution help companies in the healthcare market formulate a powerful healthcare market access strategy?