The Power Of Patient Advocacy In Pharmaceutical Development :The Advocate

Patients deserve to have their voices heard by the healthcare industry. Their input can not only improve the quality of their own care, but also that of many others with similar needs. It also sheds light on under-recognized sources of demand in the industry and opens up new opportunities for professionals who have the skills to fill that demand with new solutions.

To this end, our research team at The Brooks Group publishes an annual report on patient advocacy in the healthcare industry. Our pharmaceutical market research publication (The Advocate: Supporting the Patient Voice) has all of the information you need to assess the state of patient advocacy in the healthcare market and determine how to better align your company's offerings with patients' stated needs.

What Is The Advocate?

The Advocate: Supporting the Patient Voice is an annual market research report published by The Brooks Group that first debuted in 2018. It was preceded by our publication STAR: Successfully Targeting Advocacy Relations, which ran from 2010 to 2017.

The Advocate comprises information from 103 healthcare companies and 37 professional organizations spanning over 18 therapeutic areas in total. It includes both quantitative and qualitative data to create a more holistic and compelling picture of patient needs.

To complete our data set, we also conduct 45-minute follow-up interviews with a selection of the top organizations in the healthcare industry. These interviews give these organizations a chance to comment on their patient advocacy efforts in more detail and outline the areas they plan to work on in the near future.

Our Goals for The Advocate

In each edition of The Advocate, we strive to:

• Help the pharmaceutical community better understand patients' needs
• Provide an overview of how each organization is viewed by the patients it serves, facilitating improvement both internally and within the industry as a whole
• Create a set of consistently measured annual benchmarks that can be used to chart progress toward major patient-centered goals

Why It Matters

Patient advocacy is more than a professional courtesy – it is a fundamental duty within the healthcare industry.

The goal of all healthcare is to improve patients' health and quality of life. Providing treatments for disease only accomplishes part of that goal. Patients must have a platform to express their needs and priorities. Patient advocacy gives this vulnerable population a voice and makes it more likely that they will receive treatments that suit their budget, lifestyle, and overall health requirements. Advocacy work may even prompt companies to develop therapies for some conditions that are currently overlooked.

Since patient advocacy information is essentially an expression of demand, it also has significant repercussions for the sales side of healthcare. Major payers often shift their buying habits in response to patient feedback. Top healthcare consulting firms emphasize the importance of this relationship when advising clients on how to navigate changing markets.

Account managers who do not take the time to keep up with the latest patient advocacy reports may suddenly discover that their pitches are no longer resonating with their clients. In contrast, keeping up with this information on a yearly basis allows healthcare sales professionals to make timely propositions that address concrete, documented patient goals.

Bridging the Gap Between Patients and Industry

Investing in patient advocacy research could significantly improve your company's ability to close sales and make meaningful investments with appreciable ROI. The Brooks Group makes it easy to upgrade your workforce's skills with account management training courses, healthcare executive training, market research, and more. Contact us today to learn more about how your organization can receive access to The Advocate or to sign up for our any of our industry-leading healthcare sales training courses.

This blog was originally posted on https://thebrooksgrouponline.com/2022/05/power-of-patient-advocacy-in-pharmaceutical-development-the-advocate/

How is Digital Health Revolutionizing the Healthcare Industry?

Digital technologies have crept into every facet of daily life, and the healthcare industry is no exception. Digital health is the latest trend set to revolutionize the healthcare industry.

This new model of care will change everything from research and development to patient care outcomes – no aspect of the field will be left untouched. Understanding this phenomenon, its benefits, and the opportunities it presents can help healthcare and pharmaceutical professionals adapt their practices to the new digital paradigm.

What is Digital Health?

Digital health is the process of integrating new digital tools into the healthcare industry. Using technologies like wearables, connected devices, and software applications, physicians and other healthcare professionals can collect vast amounts of health data from patients. This allows them to get a more well-rounded, accurate, and timely picture of each patient's health status, sometimes on a real-time basis. They can then offer high-quality care even at long distances.

Benefits of Digital Health

Healthcare providers who adopt the digital health paradigm benefit in many ways, including:

• Better communication. Patients who are treated using digital health technologies can communicate directly with their doctor for most of their treatment, facilitating trust and openness between both parties. Patients do not need to discuss their health information with receptionists, assistants, and other people who may be present in a typical clinic setting.
• Accelerated treatment. Because digital health solutions are usually extremely efficient and require very little human input, patients treated with these technologies can receive treatment much more quickly than someone being treated using conventional methods.
• Lower costs. Digital health technologies make it easier to deliver quality care with fewer resources. This benefits healthcare providers, insurers, and patients alike.
• Increased accessibility. Digital technologies like telemedicine solutions allow more people in need to access healthcare services, even when they live hundreds of miles away from the specialists they need to see.
• Improved knowledge of patient profiles. Digital health allows healthcare providers to access patient health data directly using a single touchpoint, improving their ability to assess each patient's condition and relay accurate information to them.

Digital Health and the Pharmaceutical Industry

Digital health has also made a noticeable impact on the pharmaceutical industry.

Now that electronic health records are more widely used, patients' health information is being recorded in a standardized and easily accessible format for the first time. This shift gives researchers and healthcare providers access to more detailed patient health profiles, including current vitals readings and records of any comorbidities each patient has.

This information unlocks a whole new realm of possibilities for drug companies. Researchers can use it to develop drugs that are targeted to specific presentations of a particular condition. They can also determine which type of patient responds best to each medication and market their products appropriately. This process can be aided by AI-powered drug discovery methods that can experiment with thousands of chemical combinations to find the formula that produces the desired effects.

Digital Health and Pharma Sales

These opportunities presented by digital health technologies have additional implications for pharmaceutical sales.  Account managers who factor digital health advancements into their services and pitches will be the most successful in this new reality.

To do this, salespeople will need access to specific tools. Pharmaceutical market research is critical to keeping abreast of new developments powered by digital health technologies. Account management training courses can refine professionals' ability to tailor their pitches to customer needs. Pairing the two together gives account managers the skills and knowledge they need to seize the opportunities before them.

Don’t Let Your Company Get Left Behind

As one of the top healthcare consulting firms in operation today, The Brooks Group recognizes the importance of staying up to date with the latest digital health developments. We offer a multitude of services designed to improve market knowledge and sales skills in healthcare professionals, including healthcare executive training and managed care training. Contact us today for more information on any of our world-class training programs or to sign up for an upcoming session.

This blog was originally posted on https://thebrooksgrouponline.com/2022/05/how-is-digital-health-revolutionizing-the-healthcare-industry/

Career Advancement Tips for Pharmaceutical Sales

Working in a pharmaceutical sales role is a challenging task that many professionals find very rewarding. However, most people strive for improvement in status, recognition, and responsibilities, continuing over the course of their careers. Whether you are just starting out in this field or are hoping to make some progress after a few years of stagnation, these five tips will help you set the stage for the career progression you desire in pharmaceutical sales.

1. Set Clear Goals

You know you want to develop your career, but have you given any thought to what that development should look like?

You may want to develop professional renown based on your in-depth knowledge of the pharmaceutical industry. Perhaps you would like to make it into the executive suite one day. You may even want to shift your focus altogether and break into the medical device, or biotechnology space instead. Identify what meaningful career progression looks like to you, then use that information to determine which skills you need to develop through education or practical experience. This will help you chart your course to greater heights.

2. Develop Your Resiliency

Even the best sales representatives will encounter the occasional roadblock during their career. Not all your pitches will be well-received, and you may even lose some long-term clients due to problems like economic downturns or corporate restructuring.

These things are disappointing, but they are also unavoidable at times. A good salesperson views failures as an opportunity to learn and improve. Instead of becoming discouraged over these setbacks, ask yourself what you could do better next time. These reflections will help you identify the weak points in your sales approach and determine what needs to be done to improve your skills in that area.

3. Network Frequently

Finding success in pharmaceutical sales often comes down to relationship-building – not just with your current clients, but also with other contacts within your field. Trade shows are an excellent place to find new prospects with whom you can slowly establish trust. Professional organizations like the National Association of Pharmaceutical Representatives are another good resource.

4. Find a Mentor

There are many things about sales that can only be learned through experience. Finding a mentor allows you to learn from their experience instead of having to find these things out on your own.

Connecting with a more experienced sales professional gives you access to someone who can guide you through the finer points of your role. Your mentor may also have received additional training that you have not. For instance, they may have undergone advanced courses like healthcare executive training to prepare to step up to higher roles. They can impart some of this knowledge to you and let you know which types of training have been most valuable to their career trajectory.

5. Invest in Continuing Education

Finally, be sure to keep up with your professional education over the course of your career. Earning a postgraduate degree is one way to show your customers you have advanced scientific knowledge. This can help you win their trust, but it will not necessarily make you a better salesperson.

A better approach is to invest in individual continuing education courses. Many top healthcare consulting firms offer training specific to the pharmaceutical industry. The knowledge imparted through these courses is immediately applicable to your daily work. You can use this information to generate impressive results and have a tangible impact on your company's bottom line. Proving your value in this way makes you an excellent candidate for the raises, promotions, and other benefits that establish career progression.

Get Ahead with Professional Healthcare Sales Training

Your career will not build itself: it is up to you to take the steps needed to accomplish your goals. Invest in your future potential with professional training from The Brooks Group. Our pharmaceutical market research services and account management training courses have helped many a trainee develop into a leader in the healthcare industry. Contact us for more information on any of our healthcare training courses and begin working toward industry prominence.

This blog was originally posted in https://thebrooksgrouponline.com/2022/04/career-advancement-tips-for-pharmaceutical-sales/

The Onboarding Process and Its Link to Retention

Employee retention is a major concern for companies in all industries, but the specialized knowledge required for healthcare sales roles makes turnover a particularly salient concern in the pharmaceutical industry. After putting significant amounts of time and resources into finding and training the best candidates, you want that talent to stay with you for many years.

Building a robust new hire onboarding training program is one of the best ways to build employee loyalty. A warm and purposeful welcome addresses many of the common concerns employees have when starting a new job and helps them overcome many productivity roadblocks that keep them from performing at their best. This generates high employee retention and produces results that delight both parties.

The Emotional Stakes of a New Job

When an employee starts a new job, emotions are always running high. New employees are eager to make a good impression, feel the expectations of their new environment, and settle into their new roles. They are unaware of any pre-existing team dynamics and company culture pressures, but most are conscious of this weakness and will happily work to remedy it.

This early period is a crucial time in the employee’s tenure with your company. Their experiences at this stage frame their expectations for the job overall. If they do not receive the support and resources they need to thrive, many will assume that thriving is not possible in their role. From their perspective, this leaves them with no choice but to resign and move on. 

Delivering on Your Promises

Emotional fulfillment is not the only benefit of a well-executed onboarding period. Many companies claim that all employees are valued, integral members of the team. This is an effective mindset that promotes greater team cohesion and individual empowerment, but it means nothing without concrete action to support it.

Team members who are hired and given little to no orientation often do not feel valued. In some cases, they may not even be sure how to contribute to the team. They lack the context they need to apply their efforts to larger organizational goals and end up feeling abandoned and adrift.

This disconnected team environment is not conducive to high productivity. Even when employees decide to remain with the company, they cannot use their skills effectively for your benefit. They also have no insight into their team’s strengths or weaknesses and cannot even attempt to fill the group’s needs.

Smoothing the Transition with Onboarding

To assuage new employees' fears and help them better integrate into your organization, consider increasing your investment in onboarding training.

Onboarding training establishes an initial framework that helps both employers and employees get what they need. It helps new team members become accustomed to your company culture and expectations through a formal channel with clear and consistent messaging. When paired with a relational component like a buddy program or mentor system, a good onboarding training course can give new employees the sense of direction they crave in those critical early days. This has been shown to improve retention by up to 50%.

Onboarding training does not have to be done on a set schedule. Virtual onboarding training courses allow new employees to learn at a pace that suits their needs. If they have a large chunk of free time one afternoon, they can spend it working through the module. If other matters must be prioritized, the module can be put on hold for a while. Learning how to complete training initiatives at a self-guided pace also sets employees up for success with future training initiatives, such as account management training courses and other continuing education. 

Receive Quality Custom Onboarding Training from The Brooks Group

A well-crafted onboarding training program can mean the difference between a stable team and a revolving door of constant new hires. As a leading biotech market research and healthcare management consulting firm, The Brooks Group has developed custom onboarding training programs for countless healthcare leaders. Contact us today to discuss your organization’s training needs and get your employees off to a better start.

This blog was originally posted on https://thebrooksgrouponline.com/2022/04/onboarding-process-and-its-link-to-retention/

Amplify Your Sales Team's Effectiveness in Managed Markets

Managed care is the process of delivering health services based on agreements made between an insurance company and a network of healthcare providers. Under this agreement, insured patients receive care at a lower cost than they would if they were treated by a provider outside of this network.

This type of care has become extremely popular in the US market, particularly in the context of employer-sponsored plans. As of 2017, more than 70 million Americans rely on this type of coverage for at least some of their healthcare needs.

This high market penetration signals the need for healthcare providers to satisfy the demands of managed care providers in order to receive payment for their services. This has significant implications for how account managers should approach sales proposals when managed care plans are a factor in their clients' decision-making processes.

How Managed Care Changes Sales Dynamics

In addition to a thorough understanding of the pharmaceutical market in general, a specialized approach is required when working with accounts that depend on managed care billing. These accounts have unique concerns that influence their purchasing decisions. If they purchase a drug that is not adopted by many managed care plans, they risk being unable to generate a profit from that purchase.

Which types of drugs are favored by managed care plans? Budget is often a major factor in this decision. Managed care plans emphasize affordability and must stretch a relatively small pool of funds to cover all the drugs and treatments they will offer.

Managed care insurers are also much more likely to be interested in drugs that can be prescribed to a wider patient base. Niche solutions are rarely appealing to this type of payer. On the other hand, drugs that can be used to treat a wide variety of conditions may be more attractive.

Why Managed Care Training Matters

Developing a deeper understanding of what drives this market is critical to successfully pitching products to providers who operate within it. Account managers and pharmaceutical sales representatives must demonstrate that they are familiar with the decision-making process within managed care contexts to gain providers’ trust and match them with profitable solutions.

In recognition of this knowledge gap, healthcare management consulting firms have begun offering specialized training to help account managers adjust their approach to better suit the needs of this segment of the market. For instance, our upcoming Managed Care 101 training course offers an overview of managed care markets and the information needed to make a convincing proposal that will secure new business. Topics covered include:

• Who pays for healthcare products and services in the US market

• How pharmacy benefit management and integrated delivery networks work

• How to use evidence-based criteria and player guidelines to determine appropriate product suggestions

• How to establish a pull-through relationship with clients to promote the use of your products in the context of managed care

Perfect Your Managed Care Sales Tactics

Managed care market dynamics will only become more important in pharmaceutical sales in the coming years. Deepening your sales team's knowledge of managed care now is key to maintaining your competitive advantage.

The Brooks Group offers a full catalog of account management training courses designed to help sales representatives hone their skills, as well as instructional design services for creating custom training content. Contact us today to sign your team members up for our Managed Care 101 training course (currently scheduled for May 30) or any of our other industry-leading courses for account management professionals.

This blog was originally posted in https://thebrooksgrouponline.com/2022/03/amplify-your-sales-teams-effectiveness-in-managed-markets/

It's Time to Embrace Branding as a Necessity

Many healthcare companies feel that branding efforts are a waste of their time and resources. This mindset is a holdover from past markets, and it is problematic in today’s market conditions.

In the past, healthcare markets were much smaller, and there may have been only one or two products available to treat any given condition. Now, there might be dozens of different options to choose from.

Building a stronger brand is one of the best things you can do to ensure that your company can thrive in this crowded environment. The following five benefits are just some of the many reasons to establish and nurture your healthcare brand.

1. Crystallize Your Competitive Edge 

What makes your healthcare company different from all the others in your niche? You know the answer well, but your prospective customers may not. Strong branding highlights your company’s unique value propositions and allows you to prove your worth to patients and healthcare providers alike. It gives customers a sense of what to expect when buying from you, and this may be enough to cement their decision to choose you over your competition.  

2. Build Trust in Your Company 

New drugs, technologies, and equipment often represent million-dollar investments for healthcare providers; choosing which ones to purchase is no easy decision. Products that are backed by an established brand are seen as less risky than those that are not. Branding makes the products feel like more of a known quantity than what competitors are offering, making it easier to justify the decision to buy from you. We speak from experience on this matter: as one of the country’s top healthcare consulting firms, we have taken care to ensure that our own brand is synonymous with integrity and reliability. 

3. Drive Patient Empowerment 

Good brands resonate with patients as well as healthcare providers. They cultivate patient trust by keeping a close eye on their needs through market research and patient advocacy, then implementing key insights from their findings to better reflect patient needs. They also build a reputation for transparency and trustworthiness, providing patients with all of the information they need to confidently direct the course of their treatment.

4. Contribute to Financial Security 

Even the biggest healthcare companies may see sales numbers dip from time to time. However, a strong brand has staying power that outlasts small roadblocks. People will always gravitate to brands they know and trust, even when budgets are tight. This means that products from strong brands are often some of the last line items to be cut in times of crisis. 

5. Confer Power During Mergers and Acquisitions 

Effective branding can also be an excellent asset during mergers and acquisitions. A company with an established brand has significantly more negotiating power in these propositions. If you are interested in an acquisition, you can command a higher price for the sale. You can also count on the strength of your brand to deter low-quality offers that are not in the best interest of your company; bigger brands are perceived as more difficult targets, even when the company behind them is relatively small. 

Build Your Brand with Quality Training Initiatives 

A strong brand starts with an exceptional team. You can home your staff’s sales, strategy, and interpersonal abilities with advanced professional courses from The Brooks Group. 

Here are some popular training courses we conduct for healthcare executives - 

Executive Level Presence - https://thebrooksgrouponline.com/training-programs/healthcare-executive-training-program/

Excellence in Account Management - https://thebrooksgrouponline.com/training-programs/large-account-management-training/

Get into Pharmaceutical Sales - https://thebrooksgrouponline.com/training-programs/get-into-pharmaceutical-sales/

Managed Care 101 - https://thebrooksgrouponline.com/training-programs/managed-care-101-training-seminars/

Contact us and let us help your team upgrade your company branding today.

This blog was originally posted in https://thebrooksgrouponline.com/2022/03/its-time-to-embrace-branding-as-a-necessity/

5 Reasons Your Company Needs to Invest in Key Account Management

Acquiring new customers is the most obvious way for healthcare organizations to drive growth, but it is not the only way. More and more healthcare consulting firms are offering key account management training, an innovative new approach to account management that teaches professionals to focus their efforts on a few key accounts in their portfolio. Here are a few of the benefits of investing in this type of training for your firm’s account managers.

1. Retain Existing Customers  

Keeping the customers you have is always easier than finding new ones. Existing customers know what you have to offer and have found your services satisfactory over the months or years they have been working with you. 

Key account management training can help you build on that existing trust to forge iron-clad relationships that benefit both parties. When customers know that you will go above and beyond for them, you can win their loyalty for a lifetime.  

2. Grow Existing Accounts 

It is easy to think that the goal of customer retention is to maintain consistent income from that account over time. This is not true. Your existing customers may actually have much more interest in purchasing additional solutions from you than either of you realizes.  

A well-trained account manager understands that key accounts in their roster have untapped potential. They should always be looking for opportunities to show their clients some new product or service your organization offers that will meet their clients’ needs, even before those needs have been expressed. Doing this will allow them to capture more revenue from these accounts and easily achieve sustainable growth. 

3. Develop Your Understanding of Your Target Customers 

When you know your current customers like the back of your hand, you also gain knowledge about what future customers will respond to. Products or services that are popular with several accounts will probably be appreciated by similar organizations and may merit greater investment from your firm.  

Key account management training teaches your staff to observe trends in their customers’ needs and apply them to later sales opportunities. This tactic is especially effective when excellent account management skills are paired with additional information from pharmaceutical market research companies and other sources of real-world customer data.  

4. Secure Long-Term Revenue 

No firm can rely on project-to-project income forever. Every organization must build long-term sources of revenue to continue to grow and expand.  

Key account management training gives your staff the tools they need to deliver outstanding service on a consistent basis. This keeps customers satisfied and happy to keep giving you their business for many years to come.  

5. Drive Word-of-Mouth Marketing 

When your customers know they can depend on your organization for innovative solutions and excellent service, they will happily recommend you to other organizations in the industry. This allows you to build momentum based on your past successes and organically grow your customer base. 

Key account management training helps your staff further develop their skillsets to meet the needs of even the most discerning customers. With this knowledge to guide them, they will have no trouble delivering the high-quality service that will get you those coveted recommendations.  

Get Key Account Management Training from a Top Training Organization 

Healthcare is a highly competitive field, and your firm needs every advantage it can get to stay on top. Key account management training can help your staff master the advanced customer service skills they need to make your biggest accounts even more lucrative.

The Brooks Group provides a full curriculum of training programs for account managers in the healthcare industry, including employee onboarding training and strategic account management training. Contact us today to learn more about how you can enroll your workforce in these programs and set your company up for success. 

This blog was originally posted on https://thebrooksgrouponline.com/2022/02/5-reasons-to-invest-in-key-account-management/