The US pharmaceutical industry’s commercial market has historically been the Wild West. Under a fee-for-service environment, physicians and their patients made many of the care decisions with few restrictions. However, the changing health care landscape, including the move to a value-based health care system, has changed the ability of manufacturers to drive growth through the lever of price.Read more
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Expanding Medical Affairs could help restore trust, demonstrate value of biopharma organizations and productsby Tom Yang, Principal, Monitor Deloitte, Deloitte Consulting, LLP
Within biopharmaceutical companies, Medical Affairs has often been seen as a necessity, but not necessarily core. This unit is typically neither responsible for the development nor commercialization of new drugs.
We see untapped value in Medical Affairs for biopharma, but few companies have been able to capture it. Here are three areas where Medical Affairs could enhance value for biopharma companies:
- Restoring trust: In an environment that has commonly grown skeptical of large biopharma companies,
When the music changes, so does the dance: Time for biopharma to get in step with value-based contractingby Joseph M. Coppola, Managing Director, Life Sciences Commercial and Market Access Practice Leader, Deloitte Consulting LLP
There is a well-known African proverb, “When the music changes, so does the dance.” I was thinking about this recently when I was a panelist on SAP’s Changing the Game in Life Sciences radio program, “Outcome-Based Pricing: Cure for An Ailing Healthcare Industry.” The moderator asked me for a quote that I felt best represented what was happening in the industry related to emerging pricing and payment models.Read more
Four of the nation’s largest hospital systems—Ascension, Intermountain Healthcare, SSM Health, and Trinity Health—are looking into manufacturing some of their own generic drugs, according to recent news reports. At this point, it’s not entirely clear what is driving this decision, but I suspect rising drug costs and/or shortages are likely two big factors.
Based on recent conversations with industry executives,Read more
Ten years from now, I expect biomedical research will look much different than it does today. I expect researchers will be able to tap a wide range of data streams, which will not only be accessible, they will all be in a format that can be easily shared and reused. By building upon each other’s data,Read more
Headlines and politics have been focusing quite a bit of attention on the price of pharmaceuticals – particularly generic drugs. While manufacturers of generic drugs have been effective at keeping treatment costs down, pressure to trim costs further could have the opposite effect, particularly if it leads to unprofitable products.
Generics account for the vast majority of drug sales in the US,Read more