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

ADVERTISEMENT

Creating Customer Value: New Horizons on the Managed Markets Journey


Pharmaceutical Executive


Tracking your Journey


Strength of Payer Relationships
When asked to list the most troubling issues facing managed care organizations, 70 percent of responses pointed to factors that drive account management sales effectiveness. Of these, fully two-thirds are traditional drivers such as time allocation, sizing, access to formulary decision-makers, and product launch discipline. While these drivers are important, success these days is increasingly determined by the other one-third—the new factors that include up-to-the-minute knowledge of healthcare reform and implications for payers and providers; working with new customers such as integrated healthcare providers; and providing health economic data and analysis that is relevant for customers.

To their credit, managed market organizations recognize the need to address these new sales effectiveness drivers, as evidenced by our data that demonstrates the current emphasis on building competencies around payer needs, building relationships, customer focus, and business acumen. Looking to the future, leadership and change management skills will become more important, signaling a recognition that working with customers to proactively drive results is increasingly important.


Neglecting New Customer Relationships
While it is heartening that industry professionals are building competencies in line with evolving sales effectiveness drivers, our experience working with life sciences companies tells us that many are behind the curve in adopting sales behaviors that lead to results. In part, this is because high-impact account management is an apprenticed skill—it takes time and an experienced hand to develop a skilled force of account managers.

There is another dynamic at play here. A predominant focus on payer customers perpetuates a "rebate for volume" account management culture that will remain entrenched until relationships with providers evolve as a consequence of the improved commitment to partnership. These relationships are lagging, as we will further see.


ADVERTISEMENT

blog comments powered by Disqus
UPCOMING CONFERENCES

Serialization Summit
San Diego, CA
Feb. 27-28, 2014



Advances in Aseptic Processing
San Diego, CA
Mar. 10-12, 2014



ClinTech 2014
Cambridge, MA
Mar. 11-13 2014


Investigator-Initiated and
Sponsored Research (IISR)

Philadelphia, PA
Mar. 19-20 2014

See All Conferences >>

Source: Pharmaceutical Executive,
Click here