Pharmaceutical Companies & Patient Advocacy Work Together Through COVID

 

The Advocate: Supporting the Patient Voice, is a syndicated market research product powered by The Brooks Group that conducts a study of the relationship between patient advocate groups and pharmaceutical companies. We placed particular emphasis on the changes that this relationship has undergone as a result of the COVID-19 pandemic. Below is a summary of some of our most pertinent findings.

Gaps Identified Through the Advocacy/Pharma Partnership

•    COVID-19's Impact on Patients

35% of respondents indicated that COVID-19 was a ‘very big issue’ in terms of its impact on their patients’ medical adherence, with 59% reporting that missed preventative appointments had the biggest impact.

•    What Organizations are Doing to Dissuade Fear from Seeing Physicians

63% of respondents provided information to patients to help convince them that it was safe to see their physician during the COVID-19 pandemic, while 33% chose to improve access to virtual support groups and other online tools and 24% encouraged patients to make telemedicine appointments instead.

•    Working Together to Ease the Burden of Non-Medical Switching

82% of respondents indicated that non-medical medication switching was either a very big or moderate issue for their patients, but only 52% said their organization is actively working to combat this problem.  

•    What Organizations are Doing to Support Patient Caregivers

88% of respondents indicated that caregiver burnout was either a very big or moderate issue for their patients. 45% also said their organization provided information to support caregivers while 31% provided support services or counselling to caregivers.

•    What Pharma Should Do to Support Patient Caregivers

30% of patient advocates would like to see pharmaceutical organizations provide more education to support caregivers, while 21% would like more grants and funding to support caregiver programs.

Best Practices in the Advocacy/Pharma Relationship

•    What Has “Good” Looked Like When Interacting With Pharma?

Of the pharmaceutical companies that advocacy organizations identified as having had ‘good’ interactions with them during the pandemic, 32% offered funds, 29% offered timely and accurate information, and 28% reached out early and without prompting.

•    Factors Driving Corporate Reputation

Respondents were asked to assign companies a corporate reputation score based on factors such as how committed they were to helping patients and how easily organizations were able to communicate with the leadership within each pharmaceutical company. Janssen and Sanofi placed first in 3 out of 7 metrics each, with Janssen achieving a slightly higher overall average (5.24 vs 5.22).   

•    Industry Leaders in Corporate Reputation

Janssen held onto the number-one rank in overall corporate reputation for the third year in a row, but their score dipped slightly from 5.33 in 2018 to 5.24 in 2019. Meanwhile, Sanofi demonstrated strong improvement, surging from seventh to second place with just two fewer points than Janssen (5.22). Merck dropped from fifth to tenth place with a 2019 score of just 4.53.

•    Industry leaders in Corporate Reputation by Therapeutic Area

Biogen Idec enjoyed a peerless reputation in the Rare Disease category with a perfect 7.0 score, while Sanofi took the top spot in both the Cardiovascular and Respiratory categories. Overall, 21 different companies placed somewhere in the top three spots for all therapeutic areas.

This blog was originally posted on https://thebrooksgrouponline.com/2021/06/pharmaceutical-companies-patient-advocacy-work-together-through-covid/

Refresher Training Enhances Retention by 35%. Do you need one?

 

Workers in the healthcare and pharmaceutical industry are required to possess extensive specialized knowledge, and compliance is paramount in every role. Healthcare executives and account managers are expected to cultivate a deep understanding of their company's products, their customers' pain points, new shifts in the healthcare market, and much more.

With so much to remember, it is no surprise that some of the specifics, especially new information that is not attached to years of experience begins to fizzle out after the training courses. Healthcare consulting companies often recommend refresher training to help with knowledge retention. Providing refresher training to your staff may boost retention rates by up to 35%.  

What is Refresher Training?

Rather than teaching new skills and concepts, refresher training is used to review information the learner has already been through. It may also be used to update learners on new developments in topics they have already covered or to clarify certain company-specific concepts during an employee onboarding training program.

Benefits of Refresher Training

Aside from increased retention, some of the improvements you can expect to see following a round of refresher training include:

•    Increased efficiency.
•    Higher compliance.
•    More confident employees.
•    Better awareness of new products and industry trends.
•    An improved ability to identify gaps in skills and knowledge among the team.

When is Refresher Training in Order?

The following five situations are some of the most common instances in which your organization may benefit from refresher training.

1. When Repeated Mistakes are Being Made

Everyone makes the occasional mistake, but when the same mistakes surface over and over again, there may be some confusion over what is expected for certain tasks. Refresher training helps to clarify these expectations, ensure that standard procedures are being followed, and create a consistent experience for your customers.

2. When New Information Must Be Disseminated

The world of pharmaceuticals and biotech is fast-paced and unforgiving. Healthcare executive training teaches the information that is relevant at the moment, but what is cutting-edge today may become obsolete tomorrow. Without regular refresher training, employees may struggle to keep up with changes in internal policy or new developments in the field.

3. When Tech is Being Underutilized

Technology is becoming an increasingly prominent part of the healthcare industry, even for executives. If your company has implemented new tools (such as a new CRM system or an appointment scheduling tool) that are not being fully leveraged, refresher training that reminds employees how to use these solutions may help to boost their adoption rate.

4. When Productivity is Declining  

When employees are unsure of how to properly do their jobs, their performance often begins to slip. If you've noticed declining revenue, lower customer retention rates, or rising turnover among your employees, some refresher training may be able to correct the problem.

5. Customer Relationships Are Suffering

Maintaining strong links with current customers is key to the stability of a business. If your customers are expressing dissatisfaction with the way their accounts are being handled, a fresh round of account management training can help to remind your staff of how they can meet those customers' needs.

Refresher training may be delivered in a variety of formats, including in-person and online. Companies can develop customized refresher training courses by using The Brooks Group's instructional design services to translate their content into lessons, quizzes, and other educational resources.

Building Employee Confidence for Future Success

Your organization cannot thrive without confident staff who are sure of their abilities and their role. Solidifying key concepts with refresher training is an investment in both the satisfaction of your current customers and your organization’s future. Contact The Brooks Group today to build refresher training programs for your company.

This blog was originally posted on https://thebrooksgrouponline.com/2021/06/refresher-training-enhances-retention-by-35-do-you-need-one/

Solidifying Knowledge Retention From a Training Event

 

Offering workshops, conferences, and various learning assets are an ideal way to ensure that your team is equipped with the right tools and skillsets to improve workflow, client relations, and overall company growth. But while these events are informative and a great way to create an interactive learning environment, what additional steps are you taking to ensure that information is retained beyond the moment?

Research shows that leveraging the power of pre- and post-event educational outreach can aid in improving content retention. And whether you’re organizing new hire onboarding training sessions or skills-building support for existing talent, that translates to an event that improves your company's financial and professional goals.

Laying the Groundwork Before Your Event

Getting attendees engaged in your educational events before they occur not only improves attendance but can aid in preparing them for the immersive learning environment they’re about to experience. Along with general reminder emails, consider adding other features to your account management training outreach campaign such as a pre-event questionnaire or a networking feature.

The Benefit of a Pre-event Questionnaire

While responses might not be mandatory, these questionnaires can help event organizers better understand specific pain points that attendees would like to have addressed as well as develop a targeted topic list for breakout sessions or roundtables that support deeper, more meaningful discussions. Likewise, by taking the time to understand an attendee’s mind frame before the event, organizers can create lesson plans that are relevant and cohesive.

Leveraging the Power of Networking

The benefit of pre-event networking is obvious for general industry events with attendees from multiple organizations. But even for internal executive coaching events geared towards current employees, it’s important to encourage attendees to build rapport with each other.

Along with helping your team to build deeper relationships across departments, they can also better understand the unique challenges each unit faces. This tactic not only fosters better engagement during the event but ensures that teams work more cohesively after the event.

Solidifying Knowledge Retention After the Event

While pre-event outreach helps to mentally prepare attendees for the information being presented, post-event outreach is also critical to ensure retention. Multiple options are available to encourage continuing education opportunities long after the event has ended. Consider a Mobile-Text Challenge, where learners are sent custom questions after a learning event and can compete against their peers.

Material Availability Post-event

One of the smartest actions event organizers can take is to provide online access to learning materials after the event. Along with providing a point of reference, this tactic acknowledges that every individual learns differently and allows for attendees to control learning at a pace that complements not just their learning style but makes allowances for event distractions that might otherwise make in-person learning difficult.

Multiple Contact Touchpoints

It’s understandable that after an educational event, questions may arise about the material covered during the course. Rather than leaving attendees adrift to figure things out independently, offer them an option to get in touch with event organizers or speakers.

Again, this option not only opens a pathway for communication but reduces any barriers to learning. Event organizers can encourage interaction either by including a QR code with access to contact information or leverage the power of email or SMS outreach to connect directly with attendees.

Building an Event That Educates and Fosters Results

For busy professionals, the time investment associated with attending virtual or in-person events is substantial. This is why The Brooks Group creates programs that build opportunities for continued education while also developing an environment that’s conducive to building relationships.

Along with a robust training program portfolio, we are also a top healthcare consulting firm and pharmaceutical market research company helping healthcare organizations develop strategies for market growth and opportunities.

This blog was originally posted on https://thebrooksgrouponline.com/2021/05/solidifying-knowledge-retention-from-a-training-event/

PEST Analysis in Healthcare Market Research

 

There are countless reasons why a healthcare organization would want to perform quantitative market research. Top catalysts include a desire to pivot to expand market share or to review current performance and determine potential areas for improvement. In both scenarios, The Brooks Group is a top healthcare consulting firm that performs PEST analysis on a client’s behalf to aid in creating a roadmap with a holistic review of external factors that directly impact efficacy.

Utilizing PEST Analysis to Synthesize Information

Healthcare organizations don’t work in a vacuum. They’re often influenced by and have consequential influence over the communities they serve. Decisions made at the executive level not only determine employee performance but can also affect health outcomes in their communities.

PEST analysis strives to review the multiple external components that influence an organization’s future course of action. Key stakeholders can confidently draft strategies that are not only informed but beneficial both for the organization and the surrounding community, by breaking down the market research into the following four core pillars:

- Political factors

- Economic factors

- Sociocultural factors

- Technological factors

Understanding Each Component of PEST Analysis

Crafting a healthcare strategy that balances the needs of a community with those of an organization is a critical skill. The Brooks Group frequently performs PEST analysis that provides key insights into those individual factors most likely to impact business goals and operational constraints.

Political Factors

Political factors can vary by location but usually include government healthcare subsidies, employment regulations, and consumer protections. Understanding whether subsidies are growing or shrinking, or that a new employee tax classification is coming, can help pharmaceutical market research companies understand how payroll requirements will impact labor costs or general revenue in the coming years.

Economic Factors

Economic factors typically refer to internal costs that a healthcare organization must manage. Anything from benefits, to interest rates from a redevelopment loan, can influence long-term goals and spending strategies. However, external scenarios also exist. For example, massive layoffs in a nearby town might see patient behaviors shift from prioritizing preventative or in-patient care and instead divert to urgent care facilities.

Sociocultural Factors

As communities across the nation continue to diversify, understanding how to properly engage with them and effectively convey healthcare messaging is a priority. Engaging in a PEST analysis can aid healthcare organizations in better identifying communication gaps — whether referencing language barriers or cultural value shifts — to ensure that the community trusts your organization and has adequate access to care.

Technological Factors

The healthcare industry continues to make strides with cutting-edge technologies that can improve patient care, communications, and interoperability between healthcare networks. And as more patients are demanding direct access to not just healthcare workers, but to their medical records, organizations need to determine how best to integrate these features without violating privacy policies or reducing the quality of care.

Building for the Future

Creating a 21st-century healthcare firm that’s adaptive and responsive to the community it serves is what’s going to set successful organizations apart as leaders in their respective fields. PEST analysis is critical because it provides a comprehensive macro approach that ensures your organization can make informed decisions that continue to move your business forward. The Brooks Group provides holistic support for healthcare organizations that includes support for new hire onboard training and account management training to build a stronger workforce.

This blog was originally posted on https://thebrooksgrouponline.com/2021/05/pest-analysis-in-healthcare-market-research/

Syndicated Healthcare Market Research and The Advocate

 

Pharmaceutical companies must always move towards innovation to maintain not only a competitive advantage but also to align with patient and customer needs. However, any strategies that are developed need to be based on sound research that incorporates current market conditions, customer needs, and competitor concerns that could impact outcomes.

While market research is a great way to gather this information, the expense can be a barrier for some organizations. However, syndicated healthcare market research can help reduce that burden while still giving your firm an informed and competitive advantage.

Syndicated vs. Custom Market Research

In general, there are two main types of market research — custom and syndicated. Custom market research is when a company employs a consulting firm to develop a research study exclusively for them. While effective, this method can be expensive since the client must bear the full cost associated with the project.

In contrast, syndicated market research[1] is when a client purchases a market research study conducted independently by a market research or consulting firm. For example, a pharmaceutical firm would purchase a pharmaceutical market research study that investigates the industry, outlines trends, and highlights potential openings that need to be addressed. One of the biggest benefits of syndicated market research is that the associated costs are significantly lower than with a custom option.

Amplifying the Patient Voice

One of the most important ways a pharmaceutical company can build for the future is by centering the patient while crafting strategies. The Brooks Group has created a syndicated pharmaceutical market research tool called The Advocate: Supporting the Patient Voice. This annual report began in 2018 and is targeted around the relationship between pharma and advocacy groups and how this impacts policies developed and programmatic support. More importantly, this critical tool also focuses on:

- Corporate reputation

- Leading manufacturers in advanced patient treatment, programmatic/policy support, and professional relations

- Knowledge of PBMs versus payers

- Awareness of copay accumulator programs

- The impact of non-medical switching

Advancing Patient Advocacy

Along with providing a thorough overview of the market landscape, The Advocate also highlights how various pharmaceutical organizations are viewed by their customers while also providing critical benchmark data that outlines industry growth and track records year over year. But what is most useful is that The Advocate polls respondents from professional associations and advocacy organizations — ensuring that the data collected is directly relevant to patient advocacy in the pharmaceutical industry.

Innovating with Credible Intelligence

Innovation is essential to maintaining relevance, exceeding internal goals, and meeting the needs of patients and customers. But to achieve these benchmarks, organizations need credible intelligence that provides a comprehensive and accurate look at the industry, outlines areas for improvement or synergies, and helps identify a path forward.

This blog was originally posted on https://thebrooksgrouponline.com/2021/04/syndicated-healthcare-market-research-and-the-advocate/

Relationship Building for Key Account Management

 

Being a leading Healthcare management consulting firm, at The Brooks Group, we understand that successful account managers do more than simply meeting sales goals. This critical position serves as an intermediary that must balance not only internal growth strategies, but also meet and exceed your clients’ needs. To do this, you need to have an understanding of client needs and a strong relationship with key stakeholders within their firm.

Understanding Client Infrastructure and Organization

Your primary contacts for an account may not be the final decision-makers in that company. Consider that there are three main knowledge levels in an organization:

- Governance

- Formal organizational structure

- Networks within the organization

By knowing who possesses the mission-critical information and who is authorized to give final approval, you can present solutions that are effective for your client and that they would be receptive to. This may require networking with individuals outside of your primary points of contact.

The Importance of Integrating with the Governing Body

Healthcare organizations rely on a governing body to manage oversight as well as key business decisions. This group may be composed of physicians, non-physicians, or a combination of the two. Building relationships with these individuals is critical for ensuring that any recommendations you give to your clients are more likely to be not only considered, but approved.

The Organizational Component

While having a strong network with individuals at the governance level is important, you still need to have alliances with client members who manage the day-to-day tasks. A key account management training program can train you to identify the various organizational levels within your client’s company and leverage those relationships.

In general, most healthcare organizations have three key levels: strategic, operational, and tactical.

Strategic Level

These members are entrusted with making decisions that directly impact not just your account projects, but the profitability and viability of their company. Typically this segment makes up five to 10% of the total workforce.

Operational Level

The operational team members are the individuals that strategize and manage the daily oversight for projects. While they still report to people at the strategic level, these people have a greater understanding of the company’s objectives and current pace at a macro level.

Tactical Level

Members at the tactical level are the people implementing any changes approved by the strategic team that are later organized by operational members. Although not as influential as the other levels, this segment understands the company’s pain points at a granular level.

Identifying Key Targets for Networking

Knowing your client’s organizational flow and governance component are important. Healthcare executive coaching helps you to identify the core roles account members play as this will impact your success. Typically, every client organization will have a decision-maker, information provider, influencer, and gatekeeper.

While the decision-maker may seem like the only important role to befriend, note that this member may rely on the expertise or opinion of others before making a choice — so you can’t neglect the other roles. For example, a gatekeeper is someone who screens information before sharing it with a more influential individual. Building a relationship with this person ensures that your communications are consistently heard by the right people.

Prioritize Relationship Building for Success

Understanding how to effectively build relationships not just with your account team, but external influential members is essential to success. A good account manager is trained to be able to balance internal company sales goals with their client’s needs in a way that not only builds trust but also eliminates the risk of losing an account to a competitor.

This blog was originally posted on https://thebrooksgrouponline.com/2021/04/relationship-building-for-key-account-management/

4 Essential Skills for Pharmaceutical Account Managers

 

Developing key account management skills helps you become a trusted advisor for influential accounts and become a strong candidate for future executive positions.

Here are four key skills that every pharmaceutical account manager should be trained in, to successfully retain the most important accounts.

1. Developing a Value Proposition

How exactly do you convince a potential client to continue to choose your products and services over competitors’? By developing a convincing value proposition.

A value proposition is a statement that shows a potential client exactly how they will benefit from your products and services, and more importantly, why they should choose you.

An excellent value proposition will:

- Generate faster, more profitable sales

- Create a long-standing relationship with key clients

- Outline precisely what your company will do for its customers

- Speed up the client acceptance process

When you put an emphasis on customers’ needs, you’ll be able to create a value proposition that is hard to turn down.

2. Accessing & Integrating at Strategic Levels

In order to become a trusted partner of your account, you must be able to understand their needs and behaviors and leverage this information to boost mutual value creation.

To become an invaluable part of your customer’s team, you must integrate yourself at the strategic level. That means you must create relationships with key players within your account’s organization and position yourself as an integral part of the strategic process, rather than just a replaceable supplier of products and services. This will allow you to grow and profit with that account indefinitely.

3. Gap Analysis

In most organizations there is a gap that separates where they are today and where they want to be. Account managers need to understand this gap and evaluate how they can assist the Key Decision Makers (KDMs) to bridge the gap.

Typically, key problems that most businesses face fall into one or more of these four categories:

1. Strategic

2. Financial / Operational

3. Products and Services

4. Marketing

Account managers should become a trusted advisor to the KDMs by devoting time, effort and energy in helping them overcome their most pressing business challenges and reach their long-term goals.

4. Executive Level Presence

Executive level presence is the ability to show confidence and competence that earns you the respect of colleagues and clients alike. Learning how to maximize your executive presence, exemplify confidence and project competence will drive your success in any professional environment.

Knowing who to talk to about what in an organization is only half the battle. By developing an executive presence, you are guaranteeing that clients and colleagues alike will stop, listen, and seriously consider what you are offering.

Gain These Skills and More with Excellence in Account Management

With The Brooks Group’s Excellence in Account Management program, you’ll learn how to understand and predict the complex needs of your clients so that you can become an invaluable part of their organization

Become a respected part of your own organization by retaining influential accounts and becoming a key component of value creation. Contact us today.

More:

Read about the signs suggesting your account managers need training here

Interested in created a custom learning experience for your account managers? Learn about our instructional design capabilities here

This blog was originally posted on https://thebrooksgrouponline.com/2021/03/4-essential-skills-for-pharmaceutical-account-managers/