What Health Care Payers Want
Viewing payers as customers
To prosper in the future, life sciences companies need to understand what payers want, what drives their behaviors and what perspectives they have on the changing health care landscape. Payers are becoming an increasingly important stakeholder in commercialization, placing additional pressure on life science companies to substantiate product value. Overall, payers are facing several challenges that stem from broader health care issues including: rising costs, consumerism, complicating environments and transparency. Most payers have taken measures to address these challenges and are demanding more attention as they position themselves as a major stakeholder for life science companies. As payers adapt to the changing environment, they are beginning to articulate specific needs that can be addressed by life sciences manufacturers.
Deloitte conducted primary and secondary research across public and private payers as well as industry experts to gather their perspectives on what payers are seeking from life sciences manufacturers.
A number of themes emerged in terms of payers needs
- Demonstration of Value
- Ease of Interaction
- Management of Costs
This paper focuses on the payer needs and how to translate them into a complementary set of value-added services, including:
- Improved Information
At present, payers are unhappy with the information and models provided to them by life science companies. They are looking for more detailed information about the clinical studies conducted by life science companies beyond safety and efficacy
- Advanced Contracting
Life sciences companies must proactively assess and appropriately use payer partnerships to support payer demands for contracting needs including downside protection, indications, unmet needs, cost effectiveness, and value based pricing
- Customer-centric Services
Life sciences companies should build an account management model that focuses less on products and more on customers' needs (e.g., understanding disease states and product portfolios, long-term strategic relationships with payers)
Payers are making demands within a changing industry, and in order to benefit from the shifting landscape, life science companies must shift away from the traditional payer relationship and in its place develop a new payer-centric strategy. To deliver on this strategy, life sciences companies need to assess their core capabilities and build new capabilities that focus more on the needs of their true customers.
Download the full paper below.