Market access update
Payer insight: 5 ways to get the most from your advisor interactions
Written by Sophie Clayton-Welch
Everyone in pharmaceutical market access is looking to get the most out of advisor interactions. This can’t be entered into lightly; the right blend of minds will lead to meaningful payer insight, actionable feedback, and advice.
In this market access update, Sophie Clayton-Welch shares some recommendations to help you get the most out of your advisor interactions.
If you are working in pharmaceutical market access, you’ll be familiar with these challenges:
- How do you get early payer insight on the price and access the potential of your asset?
- Where can you get quick, high-quality answers to specific questions?
- Who will give you access to the right advisors, at the right time, at the right budget?
As Head of International Experts Group at PRMA Consulting, Sophie Clayton-Welch has been advising leading manufacturers for over 10 years. She has helped build and develop relationships with more than 2,000 key payers and stakeholders globally.
Based on her extensive experience, here are her top-5 tips for making the most use of your advisor interactions:
1. Know when you need help from a market access advisor
You are probably making multiple decisions every day. If you are putting off answering a question it may mean that you need expert advice.
So you know you need the advice but how are you going to find someone with the time available to give it when you need it? My tip is to build a pool of trusted advisors who are available when you need them.
Some things to think about are:
- Will advisors be able to dedicate a set amount of time for you when they are busy?
- Will it work best for you if they answer a set number of questions a month?
- Will they reply to you within a mutually agreed time frame?
2. Choose the right market access advisors for you
Focus on what you need to know. If you are clear and specific about what you need to know, it will help you narrow down the search for the best advisor for the job.
It is helpful to know about advisors’ background experience at this stage, so their field of knowledge is pertinent to the questions you need answering.
It’s good to have a wide range of advisors to choose from – be it as a specialist in health technology, a key opinion leader in their field of expertise, or a patient expert who has lived through the trauma.
3. Build close working relationships with advisors
Remember that advisors usually spend a lot of time juggling their busy diaries and their time is precious. They, like you, have multiple demands on their time.
Schedule time to build relationships
- Take time to understand advisors’ strengths and ensure that you are not asking them about something they are not expert in.
- Talk to them at a time and via a channel that suits them, for example join the same online professional forums.
- Check when your advisors are free to answer questions and give them enough time to do so.
Foster open communication
- Be clear in your communication so that advisors don’t have to work out what you want.
- Would they rather have an email, a phone call, a video call, or something else?
- Be friendly and approachable while remaining professional.
- Ensure you are following your own and country-specific compliance requirements.
- Ensure that the correct contracting is in place.
- Ensure remuneration in a timely fashion.
Provide expert support
- Make sure your advisors are fully briefed; provide relevant background materials and the context for the questions are always appreciated.
- Take care of the interaction logistics so your advisors can concentrate on the questions you need answering.
- Close the circle. Feedback to the advisor about how their interactions helped.
4. Keep advisors engaged
Advisors tell me that they always get their thinking-caps out when they hear from PRMA Consulting. They know that they are going to be challenged to think creatively about potential future market access solutions.
5. Sometimes less is more
It doesn’t always have to be a deep dive primary research project.
If you are looking for some quick payer insights, keep it simple.
Online surveys provide a cost-effective quantitative approach, while virtual advisory boards and forums provide a qualitative approach that allows for deeper discussion of the questions in hand.
If you need extra help with gaining payer insights…
We have collaborated with clients and advisors to design the PRMA Access Accelerator® specifically for ease of use, wherever, whenever.
This digital application helps you to drive real-time payer insight through live virtual advisory boards, forums, and online surveys.
We partner with you to select the advisors, develop the content, and formulate your questions, to be targeted and answered quickly and cost-effectively. Coupled with the exceptional strategic insights and robust thinking that PRMA Consulting provides, the PRMA Access Accelerator® is a valuable addition to your market access arsenal.
Transforming the market access landscape: the role of digital applications