There are a number of challenges that are standing at the forefront of the pharmaceutical industry. Those challenges are plenty and well-documented. Since those challenges are large in number, there has been numerous re-evaluations of the different strategies that companies may need to implement so the company can have better success at commercializing their brand.
One topic that is addressed during the re-evaluation process is going beyond the pill. Going beyond the pill involves offering other kind of services that will tackle all of the needs of the stakeholders. The pharma industry has to show a certain level of courage and leadership to innovate a great business model.
Companies can provide a number of solutions that can provide better health outcomes, and this can create an excellent environment that will enable all of the products to flourish. Many pharmaceutical companies are seeing the benefits of the beyond the pill approach. Those who are accepting those benefits are committing to their new strategy.
As healthcare costs continue to rise, it is beneficial that the pharma industry does more than just sell the pills. The most important thing that should be at the top of the pharmaceutical business model should be selling outcomes. Patients should be the focal point of the beyond the pill strategy to make it worthwhile. Beyond the pill strategies can take on different aspects like therapy, diagnosis, diseases, and patient support.
When patients have support and therapy to fill in the missing holes along the patient highway, they will feel much better about the prescriptions they have received. A large percentage of customers who used support services or programs in pharma gain a great deal of confidence because they know they have received the best prescription for themselves, or for someone else.
The beyond the pill strategy has gone from something that is good to have to something that is necessary. Patient outcomes will become much more central to the reimbursements pharma companies receive. In the future, pharma companies may even receive their pay only based on the patient outcomes.
Want to hear how others are going ‘Beyond the Pill’?
Join top marketing innovators from the industry on July 29-31 in San Francisco at Digital Pharma West (view the brochure or register for the event) and gain invaluable knowledge about how other pharma companies are successfully implementing ‘Beyond the Pill’ strategies that integrate customer centricity and digital innovation while balancing risk within an evolved healthcare business model.