MANAGED MARKETS PRIMER

Managed Markets account managers continue to face huge competition in an ever-evolving market. Whereas understanding preferred status and step therapy concepts were once mission critical, now account managers also need to acquire a deep understanding of value-based contracting strategy and be able to navigate large health systems, integrated delivery networks and accountable care organizations and identify key decision makers.

Due to payer and provider consolidation, evolving channels and federal policy shifts, deep managed care knowledge is increasingly essential to the account manager’s professional growth and success.

Meanwhile the nature of contracts is changing, too, with more pressure on pharmaceutical manufacturers to take on risk, a topic we explore in our recent Value Based Contracting blog.

Consolidation and risk-based contracting are just a couple of the trends The Brooks Group’s Managed Markets Primer explores. Other trends we explain and analyze are:

• Understanding organizations such as ACOs
• Evaluating the newest cost lever trends used by managed care organizations such as step therapy, tiers and preferred status, and more
• Quality metrics
• Stakeholders involved, including role of pharmacy benefit managers (PBMs)

As the proportion of pharmaceuticals purchased through managed markets continues to rise, all account managers are on the hook for deep insights on managed care. Contact us to learn more about this resource.

This blog was originally posted at https://thebrooksgrouponline.com/2017/12/managed-markets-primer/

TOP 5 ACCOUNT MANAGER SKILLS

In the professional world today, there is an increasing need for effective account managers. Account managers must learn how to balance a relationship with clients and the ability to meet specific goals for the organization and their customers. The following are five traits that are essential to any successful account manager.

1. Customer Oriented
Among the most important roles of an account manager is in building and maintaining relationships with a client. An account manager must be willing to go above and beyond for his or her client in order to build trust. This trust must be based upon a manager’s transparency and honesty with clients and to work for the client’s best interest. This customer-oriented approach is what keeps clients loyal to the organizations and to the account manager.

2. Knowledgeable
Account managers must also be knowledgeable on all matters concerning the client. Having an understanding of the organization’s business model, financials, goals, mission, and values is crucial in strengthening the company. It is also important for the account manager to understand the structure of the organizations and the strength and weaknesses in the company. They must also be topical on the competition and the marketplace at a national and local level order to advise clients on how to address the competition.

3. Goal-Oriented
Additionally account managers must be goal-oriented. A primary job of an account manager is to help a company set and meet its goals. These business objectives can be both long and short term; however an account manager must develop a strategic plan for each assigned account. They must address the key issues that stand in their way of success and craft strategies to overcome them.

4. Skilled Communicator
The account manager is the primary contact point for a client. Exquisite verbal and written communicate skills are vital for an account manager. One must be able to present in front of groups, discuss problems and concerns, and establish an open channel of communication with the client. A critical success factor is to articulate to their matrix counterparts the benefits of working in an integrated fashion.

5. Strong Business Sense
Finally, a successful account manager must have a strong business sense. This understanding of the competitive market can help anticipate industry shifts for the benefit of their client. The ability to analyze data and trends give the organization the ability to develop a successful business plan.

In order to be a successful account manager one must master these skills and apply them in the field. However, learning such skills on the job can be a difficult task. The Brooks Group provides industry-leading training programs for professionals seeking to advance their career. Whether you are a current or aspiring account manager or just seeking to enhance your skills, The Brooks Group’s Account Management training programs can help accelerate your career.

The mission of The Brooks Group is to ensure our clients possess the business skills to proactively access their Key Stakeholders and gain superior insights that enable them to build and position a unique solution that delivers mutual value. For more information visit The Brooks Group online or reach out to Peter Haines at Peter.Haines@thebrooksgrouponline.com.

This blog was originally posted at https://thebrooksgrouponline.com/2017/10/top-5-account-manager-skills/

HEALTHCARE MARKET TRENDS

Losing the forest for the trees is all too easy in the healthcare world.  The evolving politics, disrupting technologies, innovative alliances and models of financial agreements between stakeholders each alone is the subject of mountains of dissertations. Who has time to develop the expertise needed to elucidate strategic insights and shine in the professional crowd?

With The Brooks Group’s Healthcare Market Trend Overview primer, you will take in the complete landscape and identify the main drivers of change in this ever-evolving market.  If you are looking for one primer that gets you up to speed on all the important healthcare trends headed our way in 2018, this is the one. It also serves as a launching pad for our other primers that allow you to deepen your insights into each driver of market growth and change.

From this primer you will learn to:

• Review key market trends and the implications for pharmaceutical companies and their customers
• Gain insight into the impact of coverage expansion on the healthcare market
• Understand how market consolidation affects healthcare stakeholders
• Review how alternative payment systems impact providers, payers, and pharma
• Understand how HIT has improved the overall coordination of healthcare

At a time when healthcare spend is projected to rise from 17.8 percent of the GDP in 2015 to 19.9 percent by 2025, developing the language and framework to discuss healthcare trends intelligently is an investment bound to bring returns in your professional growth.

This blog was originally posted at https://thebrooksgrouponline.com/2017/10/healthcare-market-trends/

MANAGED CARE 101 PRIMER

Managed care is not what it was meant to be. Even 20 years ago one of the structural engineers of managed care acknowledged a significant discrepancy between the real managed care world and the quality-driven, low cost health care system its inventors had envisioned. However despite its questionable track record, managed care appears to be here to stay, evolving to meet the growing demands of patient advocacy and consolidated provider stakeholders.

From its inception following the Health Maintenance Organization Act of 1973 to today, managed care has transformed healthcare from a not-for-profit service industry to a market-driven competitive landscape in the name of quality and cost management. Now the status quo across all channels, managed care is as much blamed for the uniquely expensive cost of care in the U.S. as it is criticized for its creation of utilization management techniques that could lead to withholding of necessary care. Meanwhile these techniques such as prior authorizations and specialty tiers led to the rapid growth of patient advocacy groups, a new and important stakeholder to consider in any healthcare strategy.

How do you wrap your head around something so entrenched in our healthcare system that even the industry-shaking Affordable Care Act left it largely intact? How do you segment–and leverage–the aspects of managed care that are designed to drive cost, quality, and outcomes? How do you understand–and leverage–the choices patients have regarding seeing specialists or access to treatments?

To understand managed care requires a deep understanding of politics, economics, and social welfare. Luckily we have taken our deep understanding and created research to support your working knowledge of managed care. Our Managed Care 101 Primer will walk you through the critical components of managed care and current examples of where and how it is (and is not) working to drive cost, quality, and outcomes.

To view the full listing of The Brooks Group Primers, go here.

This blog was originally posted at https://thebrooksgrouponline.com/2017/06/managed-care-101-primer/

EVOLVING LANDSCAPES: HEALTH PLANS & PBMS

Once seen as allies, more and more health plans and pharmacy benefit managers (PBMs) are in tough PR and even legal battles with each other, as described in our recent blog. It seems every week one is on the tough side of antitrust laws as the other is hurling price gouging accusations.

The industry-wide impact of this and other battles could be seismic.

For starters, there is a strong trend toward value-based contracts as well as both vertical integration and horizontal consolidation. Additionally, some insurers are being left out of prescription coverage altogether by these innovative PBMs that are working with manufacturers to sell to consumers directly. This is a new market-based solution to the problems of high deductible health plans and lack of access to medication.

Understanding these market drivers for change, the structure and distribution of insurance enrollment, and the evolving competitive structure of the drug market are essential for your client facing teams to pivot their strategy with the changing tides of the healthcare industry.

The Brooks Group Primer: Health Plans and Pharmacy Benefit Managers

To gain deep knowledge on these trends and more, access the Brooks Group Primer on Health Plans and PBMs. This resource offers a review of the healthcare structure, the role of each key player, the trends and the market drivers that anyone in strategic roles in the healthcare sector can benefit from.

Learn more at http://thebrooksgrouponline.com/healthcare-primers/ or contact Peter Haines at peter.haines@thebrooksgrouponline.com for more.

This blog was originally posted at https://thebrooksgrouponline.com/2017/05/evolving-landscapes-health-plans-pbms/

HOW TODAY’S COMPANIES ARE INVESTING IN LEARNING & DEVELOPMENT

By: Peter Haines, Manager, Client Media Marketing

In today’s fast-paced world, top-performing companies are seeking new and alternative ways to facilitate learning and development in the workplace.

With increased pressure to produce high quality work and retain employees, it’s imperative that companies engage employees so that they become critical team members. Investing in your people has short- and long-term advantages for both your organization and your employees.

By offering your employees the ability to learn and grow within the company, they can more effectively do their job. They also can move forward with the confidence that their company values them enough to invest in their future and enhance their skillset.

Similarly, when an organization takes the time to nurture its workforce, it ultimately realizes a competitive advantage, both via employees who are well-trained and knowledgeable, but also via improved performance, increased productivity, and less turnover.

An Effective Learning & Development Program

The key to an effective learning and development program is finding the right provider, who can adapt to your environment and align with your goals to produce the results you need.

As millennials rise up through the workforce, online learning is expected. A younger generation needs training options that appeal to their culture and methods for retaining information. And, as budgets tighten, online learning allows your team to benefit from the material without added travel expenses. At The Brooks Group, we offer industry-leading training programs for client-facing employees across all industries. For today’s busy professionals, we provide on-demand, online training.

We also understand that no two companies are alike, which sounds like an obvious statement, but is an important point when it comes to learning. Actionable information needs to be relevant to your team’s situation – industry, size, clients, etc. While we do offer pre-packaged solutions for companies who don’t require a tailored program, we can also work with you to develop a customized solution that meets your organization’s needs.

And, for those organizations whose company culture necessitates in-person training, we’ve got that covered too. Our Open Enrollment programs are ideal for individuals or small groups and are held at our corporate facility in downtown West Chester, PA. Any of our Open Enrollment offerings can be customized to meet your team’s needs. For groups larger than 12, we also offer customized, off-site training programs.

The easiest way to maintain a productive workforce is by leveraging the #1 resource you have – your team. Empower your employees with the tools and knowledge they need to effectively produce high quality work that has a measurable impact on your organization and implement a learning and development program today.

This blog was originally posted at https://thebrooksgrouponline.com/2016/10/how-todays-companies-are-investing-in-learning-development/

HOW TO HANDLE “MORTAL ENEMIES” WHEN PRESENTING

 By: Matt Toresco

Imagine: You are presenting to one of your largest clients or prospects. In attendance is the chief decision maker and his or her associates. It’s going fantastic. You’re addressing all of their needs and pain points, heads are shaking in agreement with what you’re saying, and you feel like you’re winning over the room … except for that one person over in the corner – ladies and gentlemen, meet the “Mortal Enemy.”

The Mortal Enemy is the person who disagrees with everything you propose or discuss, and it can be one of the most frustrating times in the life of any sales person or account manager.

Most people respond to this situation according to Newton’s Law, providing equal but opposite reaction to the Mortal Enemy. If they disagree with you, you wholeheartedly begin battling the Mortal Enemy, hoping to win them over. However, their agenda is to ensure that that does not happen. Ultimately it’s a futile task that leads nowhere.

So then how do we deal with the Mortal Enemy?

At The Brooks Group, we believe in following the LAER Model. The LAER Model – Listen / Acknowledge / Explore / Respond. Here’s how it works in execution:

1. When the Mortal Enemy attempts to throw a roadblock, listen to what they are saying (instead of ignoring them and crafting a comeback).
2. Acknowledge. Show that you understand what has been stated by the Mortal Enemy – but that you do not agree with what has been said.
3. At this point, utilize the rest of the room. As you have been speaking with the audience, you have been reading the room and identifying supporters. Explore the opinions of these supporters with regards to the Mortal Enemy’s roadblock.
4. Once you have elicited feedback from a number of supporters, Respond. Your response is not directly to the Mortal Enemy, but rather a recap of all the supporting statements that have been shared. This ensures that the decision maker has heard their fair share of support for you and you can move on. Again, do not re-engage the Mortal Enemy.

Sounds easy, right? That’s because it is – and that makes it the ideal method for successfully combating Mortal Enemies time and time again.

Intrigued by this approach? In our industry-leading Executive Engagement programs, attendees run through simulations on how to read an audience, and then they practice responding to the Mortal Enemy. Practice makes perfect, and by the time you encounter this situation in an upcoming meeting, you’ll be prepared to respond appropriately.

Learn more about our programs on our website, or reach out to Peter Haines to discuss how our programs can work for you.

This blog was originally posted at https://thebrooksgrouponline.com/2016/09/how-to-handle-mortal-enemies-when-presenting/