Market access update
Evaluate how digital technology can better enable processes and requirements
Written by David Sykes
Over the last few years we have seen how digital technology has been harnessed to improve health outcomes. With the rapidly evolving market access landscape, we are now on the cusp of a huge acceleration in the use of digital applications to explore value options, gain strategic advantage and provide innovative market access solutions.
To date, use of digital technology has been conservative, focused on customer-facing applications for market access; however, it has the potential to inform strategy and become an essential enabler in realising the commercial vision for pharmaceutical and biotechnology companies. Organisations can leverage this technology to implement a wider range of business models and, in essence, drive market access success by working smarter, faster and with greater economy.
New cloud technology provides an improved framework for real-time decision-making in market access. The inbuilt case logic is able to identify risks and maximise opportunities at all levels, from assets in preclinical development through to country HTA submissions. This facilitates increased collaboration by linking global thinking with affiliate needs, and encouraging effective multifunctional dialogue for product assessment, evidence generation planning and HTA preparation.
By having rapid aggregation and dissemination of data within a centralised system, this not only enhances efficiency but also allows companies to proactively address their market access needs. They can anticipate payer requirements, prioritise resources, plan evidence generation, get a head start on HTA and reimbursement submissions, and provide a useful institutional memory.
Although the process of change can be the greatest barrier to adoption of technology, this year we have been presented with more opportunities than ever before to develop more consistent and structured business processes with our clients through our digital application methodology, which helps get them ready for market access and allows them to make faster and more informed decisions.
It’s inevitable that digital applications will be used within market access. As we move to a new year I would encourage everyone to evaluate how digital technology can better enable processes and requirements. Only then can you ensure that your company fully unlocks and optimises product value and elevates their market access competitiveness.
David Sykes is the Founding Partner of PRMA Consulting
Digital transformation in market access