Adjusting Market Research Structures and Activities to Maximize Payer Access & Insights

CHAPEL HILL, N.C., July 16 /PRNewswire/ -- As the managed markets sector has increased in importance, leading organizations have refocused their market research efforts on delivering actionable insights into the payer world. A market research function that's focused on managed markets should provide managers and executives with tactics to easily anticipate and act upon the needs and wants of third-party payers.

Recognizing the impact that market research groups can have on managed markets tactics and strategies, Best Practices, LLC has published a new data-rich written report to help biopharma executives navigate the new payer-oriented world.

"Understanding Managed Markets: Effective Market Research Structures & Activities to Maximize Payer Access & Insights" examines issues around the structure, staffing and activities of the market research function serving the managed markets group.

While the 67-page study confirms that pricing studies are considered an important prelaunch study, some executives felt payer landscape studies can actually provide more actionable insights.

One executive vice president noted landscape studies can help organizations better understand new generic penetration rates:

"Payer landscape is probably the most important study right now by far. You need to understand the landscape in big picture buckets - how many products are out there and how they're managed and the discount rates. Unless your product is novel, it's hard to get into the pharmacoeconomics of it -  so then it's just understanding the market you're entering and looking for indicators to decide if you're going to go high price, high price and high discount or low price and low discount." - Interviewed Executive Vice President

This study, which features 600+ metrics and 50 narratives such as the one above, is based on an analysis of survey results and interview content collected from 11 participating companies including Abbott Labs, Alcon, Amgen, GlaxoSmithKline, Jazz Pharmaceuticals, Johnson & Johnson, Novo Nordisk, Sepracor, Solvay, Ther-Rx and Xanodyne Pharmaceuticals.

To download a complimentary excerpt of this report, go to: http://www3.best-in-class.com/rr1012.htm.

Best Practices, LLC initiated this research to assist leaders of Market Research and Managed Markets in identifying tactics and success factors for understanding and acting upon the needs of third-party payers.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for 17 years; our clients include 46 out of the top 50 pharmaceutical companies. For more information visit: http://www3.best-in-class.com.

SOURCE Best Practices, LLC

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