Creating Customer Value: New Horizons on the Managed Markets Journey - Pharmaceutical Executive


Creating Customer Value: New Horizons on the Managed Markets Journey

Pharmaceutical Executive

Overcoming Internal Barriers

While our research reveals that most companies recognize the opportunity for managed markets to create value, only a few properly estimate the level of organizational effort required. The result: Across the industry, managed market organizations are spinning their wheels. Why this lack of effective propulsion? There are many reasons:

1. Even though customers recognize the potential value that life sciences companies can provide, they are highly skeptical about the commitment and motivations these companies bring to the table.

2. Building B2B partnerships requires highly competent and experienced account managers with sophisticated B2B skills that are not necessarily prevalent in current managed market organizations.

3. These managers must be backed up by cross-functional support teams with complementary skill sets—again, not typically found in current life sciences companies.

4. Managed market organizations are not fully chartered with the authority, reputation, and leadership needed to be the internal change agents that can right this ship.

Account Managment Effectiveness
While these barriers are daunting, the potential payoff for meeting them is huge; larger still may be the consequences for not meeting them. As an industry, life sciences companies have lost as much as $600 billion in market capitalization in the last decade. CEOs and industry analysts know that product-based innovation and differentiation alone will no longer be a dominant driver for business success. The life sciences companies that can begin to reclaim leadership positions will be those that find new ways to create value for the complicated ecosystem of payers and providers that ultimately impact patient experiences and outcomes.


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