Navigating the Payer Landscape in the Ever-Changing Healthcare Marketplace

CHAPEL HILL, N.C., March 1, 2014 /PRNewswire/ -- The healthcare marketplace is rapidly and sometimes chaotically evolving. In today's healthcare environment, private and public payers are assuming greater power and control. Payer coverage, support or opposition plays a critical role in the success or failure for a new biopharmaceutical product. Any organization hoping to win in this competitive marketplace must understand how to navigate through the "payer ecosystem."

Bio-pharma companies are increasingly investing in payer landscape research to better understand and manage the payer ecosystem. Recent research by benchmarking firm, Best Practices, LLC found that up to 86% of participating companies use payer landscape research tactics to better understand payer decision making. The study also found that value-proposition testing with payers is the most heavily used and most effective tactic for mapping the payer landscape.

The research report, "Increasing Market Access through Innovative Payer Market Research: Assessing New Tools & Technologies to Gain Insight into Payer Decision Making," identifies the most effective market research approaches for understanding diverse payer needs, preferences and decision-making. The study will also provide leaders with data that will help them to keep pace with the rising influence of public and private healthcare payers.

Key study topics include:

• Prioritizing Players In The Complex Payer Landscape: Which Payers Most Impact Business
• Optimizing Payer Research Structure To Capture Managed Markets Insights
• Market Research Resources For Conducting Impactful Payer Research
• Engaging Payers & Harvesting Insights Across The Product Lifecycle
• Payer Landscape Research Activities & Timing
• Payer Contracting Research Activities & Timing
• Formulary Research Activities & Timing To Gauge Payer Perspectives
• Effective Tools & Technologies To Capture Payer Insights
• Future Trends & Lessons Learned In Conducting Payer Research For Greater Market Access

This benchmarking research drew participation from 38 payer research leaders. More than half of the participants represent pharma or biotech companies, and another quarter come from medical device companies. In addition, deep-dive interviews were conducted with five participants.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1273.htm.

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://www.best-in-class.com/.

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the 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.

SOURCE Best Practices, LLC

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