Please join for a deeper dive into the type of work IQVIA’s Market Access Strategy Consulting team does daily. You will hear from two of our Senior Principals about how we apply “Moneyball” to develop access strategies for pharmaceutical clients.
Why Moneyball? Don’t worry, we aren’t looking for candidates with backgrounds in sports, reading Michael Lewis novels or indulging in Brad Pitt movies. In the early 2000s, the Oakland Athletics baseball team implemented enhanced statistical insights to understand the real value of players, as opposed to “old-school” approaches that are outdated, subjective and often flawed. Using enhanced insights, the A’s remained a competitive baseball team despite having limited funds to pay high-value players and managers – their unique approach to gain deeper insights about players had ushered in an era of new thinking to the game. These enhanced insights are now a necessity to “play ball” across industries.
In our world of healthcare, ongoing changes in patient insurance coverage, increasing industry consolidation, and the growth in expensive transformative therapeutics continue to challenge the life sciences landscape. These changes at a macro-level have ripple effects across the industry. For example, the aging of the US is leading to approximately 15 M people enrolling in Medicare over the next ten years, but this impact is likely to be greater in specific states. Furthermore, the growth in high deductibles continue to drive higher costs across the landscape of various treatment options.
We support our clients by developing “Moneyball”-like solutions to provide better insights for our clients to adapt to a demanding market. Payer restrictions and high costs represent critical barriers to patients accessing the therapies they need. Health insurers restrict patient access to therapies that carry less value for them, and insurance plans often require high patient cost-sharing, posing puzzles for us to solve. We use the power of healthcare data to help manufacturers measure the impact of market access on brand performance and the cascading influence this has on how prescribers and patients gain access to innovative therapies. We support manufacturers by providing insights into the geographic variations of patient, insurer and prescriber behavior, helping manufacturers implement more effective strategies for sales execution, insurer contracting, revenue optimization, and all varieties of patient assistance programs.
