Five Keys To Success In The New Patient Economy
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In the new Patient Economy, commonly used approaches are no longer effective for engaging patients – and more importantly, for delivering better patient outcomes. RAPP NY hosted a webinar in June of 2016 that dives into five tips and tricks for optimizing success in the new patient economy. Learn tips and strategies for transforming your patient engagement model, along with the following: • Why successful outcomes, not prescriptions, are the new measure of success • What patients really want in the new Patient Economy • Proven strategies for delivering superior patient experiences and outcomes • Practical steps you can take to get started on your transformation
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Five Keys To Success In The New Patient Economy
- 1. KEYS TO SUCCESS IN THE NEW PATIENT ECONOMY5June 23, 2016
- 2. 2 TODAY’S AGENDA • Why Outcomes – Not Prescriptions – Are the New Measure of Success • What Patients Really Want in the New Patient Economy • Strategies to Deliver Superior Patient Experiences and Outcomes • Practical Steps to Get Started
- 3. THE QUEST FOR OUTCOMES AND VALUE: A POWERFUL FORCE FOR CHANGE 3
- 4. 4 PHARMACEUTICAL VALUE EXTENDS BEYOND EFFICACY – Meet unmet medical needs – – Superior clinical benefit over existing treatments – – Convenience, tolerability and compliance – – Reduce the total cost of care – – Reduce hospitalizations and medical procedures – – Improve the quality of life –
- 5. 5 MANUFACTURERS FACE PRESSURE FROM ALL SIDES PAYERS AND PLANS PHYSICIANS CONSUMERS Formulary Placement Pricing Outcomes Adherence Affordability Value
- 6. 6 GROWTH IN SPECIALTY MEDICINES FUELS THE FIRE 300 $848 Billion Number of specialty care drugs in on market in 2015 vs. only 10 in 1990 700 specialty care drugs in development Projected specialty care sales in 2018, exceeding 50% of total Affordability gap between forecasted sales of new Rx products and increase in payer budgets CHALLENGE: Commoditization of specialty care products IMPLICATIONS: Greater pressure to differentiate through outcomes and values $50 Billion Source: “Affordability and value—the economics of pharma’s new science”, Accenture, 2016
- 7. 7 INNOVATIVE OUTCOMES-BASED CONTRACTS ON THE RISE • Payment based on reduction in hospitalizations • Cigna and Aetna • Larger rebates for missing cholesterol goals and exceeding utilization goals • Harvard Pilgrim Health Care • Higher pricing in lung vs. pancreatic cancer based on survival benefits • Express Scripts
- 8. 8 OUTCOMES: LAUNCH CRITICAL 30% Number of new launches that miss analysts’ forecasts by 50%+ Robust outcomes data distinguishes winning brands Source: “Affordability and value—the economics of pharma’s new science”, Accenture, 2016
- 9. 9 FEE-FOR-VALUE BECOMES MAINSTREAM CHALLENGE: Physicians assume more financial risk and accountability IMPLICATIONS: Demand on pharmaceutical companies for evidence and behavioral support 30% 40% 50% Value-based payment arrangements grew by about one-third in 2015 Of Aetna’s members – 6.2 million – are receiving care from doctors, hospitals and others in value-based arrangements CMS will push half its $300 billion in annual Medicare fee-for-service spending into contracts with incentives to manage quality and costs by 2018
- 10. 10 EMPLOYERS SHIFT COST BURDEN ONTO EMPLOYEES 0% 75% 150% 225% 300% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Health Insurance Premiums Workers' Contribution to Premiums Workers' Earnings Overall Inflation SOURCE: Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 1999-2015. Bureau of Labor Statistics, Consumer Price Index, U.S. City Average of Annual Inflation (April to April), 1999-2015; Bureau of Labor Statistics, Seasonally Adjusted Data from the Current Employment Statistics Survey, 1999-2015 (April to April). Cumulative Increases in Health Insurance Premiums, Workers’ Contributions to Premiums, Inflation and Workers’ Earnings, 1999-2015
- 11. 11 CONSUMERS PAY MORE FOR LESS RISING COSTS 27% increase in family premiums 67% increase in deductible 25% enrolled in high- deductible plans FEWER CHOICES 83% of firms offer only one plan Narrow networks 23% have 4+ tiers of Rx cost sharing
- 12. 12 HEALTH CARE AFFORDABILITY A TOP CONCERN % Who Say the Following Should Be a Top Health Priority for the President and Congress PRIORITIES WITH > 50% AGREEMENT Making sure that high-cost drugs for chronic conditions, such as HIV, hepatitis, mental illness and cancer, are affordable to those who need them 77% Government action to lower prescription drug prices 63% Making sure health plans have sufficient provider networks of doctors and hospitals 58% Making information about the price of doctors’ visits, tests and procedures, such as hip replacements and MRIs, more available to patients 56% Protecting people from being charged high prices when they visit hospitals or outpatient clinics covered by their health plan but are seen by a doctor not covered by their plans. 56% Making information comparing the quality of health care provided by doctors and hospitals more available to patients 53% Source: Kaiser Family Foundation Health Tracking Poll, October 2015
- 13. 13 THE NEW PATIENT ECONOMY: A SEISMIC SHIFT ACROSS THE HEALTH CARE ECOSYSTEM
- 14. 14 CONSUMERS TAKE MATTERS INTO THEIR OWN HANDS 17% REQUEST CHEAPER Rx 53% PAY DRUGS OVER TIME 58% WANT COST DISCUSSION 25% USE SCORECARDS 33% ACCEPT LONGER WAIT TIMES 46% TRAVEL FOR BEST CARE
- 15. 15 ALTERNATE CARE DELIVERY GROWS 21% 60% 60% REFILLED Rx ON MOBILE DEVICE VISIT WILLING TO HAVE VIDEO PHYSICIAN VISIT INTERESTED IN REMOTE MONITORING
- 16. GENERATIONAL SHIFTS HAVE A HUGE IMPACT Swing (68+) 10.4% Boomers (50-68) 23.6% GenX (38-49) 15.4% Millennials (20-37) 24.5% Gen Z (<19) 25.9% DIGITAL NATIVES FLUENT ON 5 SCREENS of the U.S. adult population are Millennial/Gen X60%^ 16
- 17. 17 MILLENNIALS: THE FIRST DIGITAL NATIVES EVENTS: Columbine, corruption, recession VALUES: Happiness, diversity, discovery, work-life balance HEALTH: Holistic health seekers 25% use health/fitness app 8% use wearables 25% use scorecards 28% trust online communities 62% ask doctor for Rx 62% research prescribed medicine
- 18. 18 GEN X: THE SANDWICH GENERATION EVENTS: Divorce, working moms, Watergate, downsizing VALUES: Family, individuality, transparency, self-reliance HEALTH: Health-conscious moderates 17% experienced health wake-up call in past 3 years 36% obsessed with preventing sickness 59% would adopt wearables 71% have children at home 61% feel responsible to take care of aging parents
- 19. 19 BOOMERS: 60 IS THE NEW 40 EVENTS: Civil rights, space program, Vietnam War, economic boom VALUES: Prosperity, achievement, exploration HEALTH: Physician-centric survivors 87 average life expectancy for women 66% have multiple chronic conditions 75% influenced by doctor 57% asked doctor about Rx drug 27 hours per week spent on internet 65% of internet users engage in social media 75% have downloaded at least one health app 48% would download an app to monitor chronic condition
- 20. 20 WHAT CONSUMERS WANT IN THE NEW PATIENT ECONOMY Real value For real people In real time IT’S ALL ABOUT VALUE
- 21. HOW TO SUCCEED IN THE NEW PATIENT ECONOMY 21
- 23. 23 5 KEYS TO SUCCESS 1. Deliver value across the journey 2. Differentiate beyond the pill 3. Engage patients on their terms 4. Create a winning experience 5. Use meaningful measurements
- 24. 24 5 KEYS TO SUCCESS 1. Deliver value across the journey 2. Differentiate beyond the pill 3. Engage patients on their terms 4. Create a winning experience 5. Use meaningful measurements
- 25. 25 GO BEYOND ADHERENCE 1. BRAND AWARENESS AND PERCEPTIONS How is your brand helping create confidence and trust? Are you breaking through the clutter? 3. CONSIDERATION How well are you delivering clear information to help the confused patient make a decision with confidence? Are you engaging trusted influentials? 4. PRESCRIBING Are you helping more patients engage in shared decision making? How are you helping patients navigate the increasingly complex reimbursement landscape? 2. TARGETING Are you cost-effectively reaching the right audience segments? Are you micro-targeting niche populations? 8. ADVOCACY Do you make it easy for satisfied patients to share their stories? Are you helping survivors to cope with their challenges? 7. PERSONALIZATION Can you anticipate your customer’s next need and serve up valuable content at the right time? 5. SELECTION CONFIDENCE How are you building your patient’s confidence in the prescribed treatment? 6. EXPERIENCE Are you helping each patient manage their condition and obtain the best possible outcome? Path to Purchase {Base Point} Path to Passion {Bliss Point}
- 27. 27 5 KEYS TO SUCCESS 1. Deliver value across the journey 2. Differentiate beyond the pill 3. Engage patients on their terms 4. Create a winning experience 5. Use meaningful measurements
- 28. 28 73% offer 6+ services Only 1 in 5 patients aware 9 of top 10 services drive above- average business impact Adherence programs are the exception 85% of companies raising investment Moderate alignment with patient needs ≠ WHAT PHARMA COMPANIES OFFER Source: “The Patient Is In”; Accenture, 2016
- 29. 29 WHAT PATIENTS WANT 85% 79% 79% 79% 77% 55% 68% 54% 100% 73% 0% 25% 50% 75% 100% Medication delivery/support Remote monitoring Reminders and outreach Benefit and access support Adherence program Patient Value Company Investment Source: “The Patient Is In”; Accenture, 2016
- 30. 30 STRATEGIES FOR DIFFERENTIATING BEYOND THE PILL – Consider the entire patient journey – – Enable patients to do what they couldn’t do before – – Seamless integration – – Create real, tangible value at scale – – Prove the patient and economic value –
- 31. 31 5 KEYS TO SUCCESS 1. Deliver value across the journey 2. Differentiate beyond the pill 3. Engage patients on their terms 4. Create a winning experience 5. Use meaningful measurements
- 32. A billion journalists Mobile first Time-/space-shifting Power to switch on and off Chooses to opt in NOWTHEN Received the facts TV-centric Fixed parameters Captive audience Forced to opt out 32 The World
- 33. 33 CRM IS NOW CMRENGAGEMENT The Consumer Relationship Curve PRECISION Linear Communications Push Communications Customer Profiles Versioning Campaign Management Direct Response Modeling Segmentation Dynamic and Modular Automated Business Rules Behavioral Profiles Platform-Based Programs Connected Touch Points Big Data Integration The Higher Purpose Powerful Stories, Perfectly Told
- 34. I WANT TO PARTICIPATE Built around people’s motivations Differentiated value beyond product Creates emotional attachment Identifies the anonymous I CONTROL THE EXPERIENCE Putting them in charge of their data Highly personalized Adaptive and progressive Meaningful and valuable CMR CONSUMER-MOTIVATED RESPONSE CMR CUSTOMER-MANAGED RELATIONSHIPS Enabling the opt-in culture to manage their relationships with brands on their own terms CMR2 34 CMR MEETS PATIENT’S MINDSET IN THE NEW PATIENT ECONOMY
- 35. SEGMENTS TRIBES People cluster around shared passions. Can you contribute? 35 CMR IS WHEREVER YOUR PATIENTS ARE OPTING OUT OPTING IN People decide whether or not to let you into their lives. AVAILABLE ADDRESSABLE People know you have data. They expect you to use it well. CAMPAIGNS PLATFORMS People engage when it suits them. Be on. Be ready. INTERRUPTION ASSIMILATION People associate with brands that share their outlook. MARKETING MATTERING People welcome you in if you add value to their lives.
- 36. 36 5 KEYS TO SUCCESS 1. Deliver value across the journey 2. Differentiate beyond the pill 3. Engage patients on their terms 4. Create a winning experience 5. Use meaningful measurements
- 37. 37 REFINE THE DEFINITION: SOME OUTSIDE PERSPECTIVE Experiences so distinctly valuable and finely tuned that once consumers get on the path they are irresistibly and permanently engaged. Source: “Competing on Customer Journeys”, HBR, Nov. 2015
- 38. 38 TRANSFORMING ENGAGEMENT IN THE NEW PATIENT ECONOMY Mass market Precision targeting Patients People What you say to them What you do for them Linear engagement Personalized pacing One size fits all One size fits none Slow Fast Reactive Predictive
- 39. 39 5 KEYS TO SUCCESS 1. Deliver value across the journey 2. Differentiate beyond the pill 3. Engage patients on their terms 4. Create a winning experience 5. Use meaningful measurements
- 40. 40 OUTCOMES — NOT PRESCRIPTIONS — ARE THE NEW MEASURE OF SUCCESS ENGAGEMENT PRESCRIPTIONS TOMORROWTODAY
- 41. 41 OUTCOMES — NOT PRESCRIPTIONS — ARE THE NEW MEASURE OF SUCCESS ENGAGEMENT PRESCRIPTIONS BEHAVIORS OUTCOMES VALUE TOMORROWTODAY
- 42. 42 HOW TO GET STARTED – Understand what your patients really want in the New Patient Economy – – Design for purpose – – Leverage marketing automation – – Set up a new measurement framework – – Test, learn, optimize –
- 43. 43 STAY TUNED FOR OUR UPCOMING WEBINAR SERIES: UNLOCKING VALUE ACROSS THE GENERATIONS Session 1: Millennials Session 2: Gen X Session 3: Boomers CORE DIALOGTM High-precision brand engagement for a digital-smart world
- 44. THANK YOU 44 Rick Doerr Managing Director, NY rick.doerr@rapp.com 212.619.6917 Maryann Kuzel SVP, Healthcare Strategy maryann.kuzel@rapp.com 212.619.6847