SOURCE: Cutting Edge Information

Cutting Edge Information

November 08, 2016 08:17 ET

Drug Companies Outsource to Fill Key HEOR Gaps

More than half of pharmaceutical companies outsource health economics and outcomes research activities

RESEARCH TRIANGLE PARK, NC--(Marketwired - November 08, 2016) - Among pharmaceutical market access teams, health economics and outcomes research (HEOR) activities are the most commonly outsourced, according to new research published by business intelligence firm Cutting Edge Information.

The research examines surveyed market access teams' outsourcing behaviors by subfunction. Half of all surveyed pharmaceutical companies reported that they outsource HEOR and comparative effectiveness research (CER) activities. However, 92% of companies claimed that they did not outsource payer relationship management activities

Cutting Edge Information's study, Global Market Access Strategies: Building Payer Relationships Through Comprehensive Value Stories, analyzes other market access activities, including launch sequencing, product pricing, marketing access strategy/admin, and patient-reported outcomes (PRO). Three-fourths of drug companies do not outsource PRO activities while the remaining 25% did. Furthermore, 30% of companies reported outsourcing launch sequencing activities.

"Outsourcing is an important tool that market access teams are using worldwide," said Jacob Presson, senior consultant at Cutting Edge Information. "Vendors that can demonstrate skill in working with medical record databases can add significant value to market access groups working on real-world evidence and other outcomes-based research."

For small company teams, assistance with product pricing and launch sequencing can be extremely helpful. Since both of these activities tend to peak around product launch, companies often turn to vendors that provide detailed market research on competitor pricing and regulatory guidelines around the world. Even large companies turn to experienced HEOR vendors to support products that are approaching launch or already on the market.

Global Market Access Strategies: Building Payer Relationships Through Comprehensive Value Stories, available at http://www.cuttingedgeinfo.com/research/market-access/market-access-and-reimbursement/, explores emerging trends impacting market access teams and the best practices they implement to obtain better pricing and reimbursement around the world. The study contains detailed market access performance metrics, including ideal timeframes for involving market access teams in supporting new product launches. Use the report's benchmarks and market access team priorities to:

  • Set market access budgets
  • Analyze market access subfunctions -- such as HEOR -- and activities that receive higher priority and resource allocations
  • Develop stronger payer relationships by deploying account managers and incorporating third-party perspectives
  • Develop unique launch sequence strategies to capitalize on product value.
  • Learn how market shifts and uncertainty will have a greater impact on pharmaceutical pricing activities

For more information about Cutting Edge Information's market access research, visit http://www.cuttingedgeinfo.com/library/market-access/.

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