Non-Adherence Shown to Significantly Impact Patient Health and Financial Performance of Pharmaceutical Companies
NEW YORK, N.Y. and LONDON, U.K., March 12 (SEND2PRESS NEWSWIRE) — Costing the global pharmaceutical industry an estimated $30 billion per year and causing an estimated 125,000 deaths per year in the United States, patient non-adherence is a looming issue in the healthcare industry. Eularis has responded to this problem with a new report, available today, titled, “Ensuring Profitable Patient Adherence Programs.” This report analyzes the underlying barriers to patient compliance and studies how pharmaceutical companies can implement successful adherence programs that will improve patient care while also increasing profitability.
Written for CEOs, marketing executives and sales executives, this report uncovers that while adherence programs are designed to target the obvious reasons for non-compliance, including lack of insurance coverage, poor doctor-patient communication, preference for alternative therapies or simply forgetting, they are often ineffective. The report suggests that this is because there are barriers in the pharmaceutical companies themselves that may be hindering compliance program success. These barriers include such things as siloed organizational structures, privacy issues, short lifecycle of brand managers and difficulty of measuring return on investment.
“Pharmaceutical companies need to reconsider their approach to solving the patient adherence problem and stop viewing non-compliance as ‘the patient’s problem,'” commented Dr. Andree K. Bates, author of the report and president of Eularis. “In order to implement successful adherence programs that will improve patient care and increase profitability, companies should take an analytical approach that examines all non-compliance data relating to each brand, including how that brand is managed and what the financial impact of non-compliance on that brand is before designing appropriate interventions.”
An estimated 70 percent of patients who begin a pharmaceutical therapy discontinue it within one year, even those with chronic conditions that require ongoing treatment or those taking chemotherapy to prevent cancer recurrence. Given recent press reports of drug safety issues, as well as declining sales, greater competition, weaker pipelines, and increasing pressure to reduce direct-to-consumer (DTC) advertising, pharmaceutical companies can no longer ignore the hidden value available by increasing patient adherence.
The report identifies and provides insight into key elements that affect patient compliance, such as:
* Underlying patient reasons for non-adherence
* How pharmaceutical companies can measure the financial impact of non-compliance
* Program approaches for improving patient adherence
* Tips for better patient-physician communication
* Steps to increase patient adherence
The report also presents case studies that demonstrate how to effectively implement various adherence program approaches for several drug categories.
In closing, Bates said, “Adherence to prescribed medications, particularly for long-term therapies, poses a tremendous challenge to the world’s pharmaceutical companies. Investigating brand-specific compliance rates, understanding the larger causative factors for lack of compliance, and developing and implementing programs to increase compliance can help brand managers increase market share and revenues for their brands while significantly improving clinical outcomes for patients.”
Bates has gained wide recognition within the international pharmaceutical industry for her expertise in marketing return analysis. In addition to this and other must-have reports for pharmaceutical industry marketers, she has authored many articles in peer-reviewed journals and several chapters in books on pharmaceutical analytics.
To purchase the Eularis report, “Ensuring Profitable Patient Adherence Programs” visit: www.patientadherenceroi.com or for more information about Eularis visit www.eularis.com
Eularis provides sophisticated pharmaceutical analytics that provide data-driven insight into the financial impact of corporate and marketing decisions. Unlike traditional analytics approaches whose reliance on historical or analogue data reduces their accuracy, Eularis’ proprietary 94.8 Analytics Process is based on the current market situation. This proven approach helps pharmaceutical marketing teams to quickly plan, measure, validate, and optimize their sales and marketing performance. Eularis offers pre-launch analytics, marketing mix modeling (both professional and consumer), portfolio optimization, sales force effectiveness, managed care analytics, and patient compliance solutions.
Co-headquartered in London and New York City, the company has developed significant experience in the global pharmaceutical market through client engagements with AstraZeneca, GlaxoSmithKline, Merck, Pfizer and many others.
More information about Eularis: www.eularis.com.
All trademarks acknowledged.
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News issued by: Eularis
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Original Story ID: (3747) :: 2008-03-0312-001
Original Keywords: Eularis, Pharmaceutical Industry Report, Ensuring Profitable Patient Adherence Programs, healthcare industry, Written for CEOs, marketing executives and sales executives, Dr. Andree K. Bates, direct-to-consumer advertising, DTC Eularis
News Source: Eularis