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For many, these coupons represent the difference between filling a prescription and going without lifesaving care, but there is a lot more here than just a co-pay coupon. Health insurers have started effectively stealing co-pay coupons, leaving patients on the hook for far higher expenses. Let’s take a step back for a minute.
It’s hard not to read a story about how high drug prices are hurting patients, but while drug prices are too high and outpacing inflation, insurers, PBMs, and hospitals are taking huge slices of healthcare dollars with little notice from Congress and the media. Pharma people don’t do anything without doing an ROI analysis.
SUMMARY: The biggest argument against pharma is the cost of prescription drugs. Pharma could do something about this by simply uniting to make it easier for patients who can’t afford their medications to get them free or at little cost.
PhRMA has rounded up its attack ad team once again for another broadside against pharmacy benefit managers, zeroing in this time on the potential for insurers to profit from where prescriptions get | PhRMA has rounded up its attack ad team once again for another broadside against pharmacy benefit managers, zeroing in this time on the potential for (..)
Seventy-nine percent of Americans think the price of prescription drugs is “unreasonable,” according to a 2019 Kaiser Family Foundation poll , and about 9 in 10 say they support the idea of the government negotiating prices. Big Pharma’s chokehold around the U.S. Via Axios “The 10 highest-selling drugs in the U.S.
SUMMARY: “How big pharma takeovers destroy innovation” a report from Congresswoman Porter does make some points. Still, she is missing a lot of facts at a time when hospital and health insurance costs are soaring. I always have pointed instances in which pharma puts Wall Street first and patients second.
According to data from KFF’s annual survey of employers , between 2010 and 2020, insurance premiums for employer-sponsored family coverage rose by 55 percent; the employer’s contribution went up 61 percent. Meanwhile For Health Insurers. In other words the nation’s health insurers are doing extraordinary well.
.” J&J has had problems in the past, but they’re trying to be an ethical and responsible pharma company. Pharma is a big business. It’s not just big pharma that’s raking in money. for each Medicaid prescription, which accounted for 9.5% Pfizer is a company focused on one thing only: profits.
More and more patients demand a level of service they want with the increased costs of health insurance premiums. 1ne: The value proposition of prescription drugs still outweighs potential side effects – Wegovy’s demand quickly exceeded supply after the FDA approved once-weekly semaglutide injections.
When they say compare prescription drug prices, they mean the cost of a prescription if you aren’t using insurance. Supossidly Good Rx has “relationships” with most top pharma companies, but that relationship may be to say “hello.” And advertising? ” It’s not a coupon.
First, the health insurance companies are making a lot of money while burying doctors in paperwork and limiting treatment options. The insurance companies get to dictate medical care and go out of their way to deny medications, surgery, or treatments with no repercussions. Health insurance policies are stressing many physicians out.
SUMMARY: The media loves to blame pharma companies for high healthcare costs, but unless we start to invest in healthy lifestyles, we’re headed for a healthcare crisis the likes of which we have never experienced. Forget the fact that prescription drugs only account for $.10 Millennials now make up the largest share of the U.S.
Numerous clinical, regulatory and financial factors are behind this digital shift in pharma. And in the first quarter of this year, the largest Series A ever in digital health ($203M) went into a company accelerating clinical trials and drug development.
They told the researchers that insurance didn’t protect them from serious money problems. While 98% of them had insurance, 71% fell deeper into debt, took out a new loan, sold or refinanced a home, or experienced at least a 20% decline in income — or a combination of these over the year they answered quarterly surveys.
Pharma companies are still too focused on profits while people continue to rely on prescription drugs to compensate for unhealthy lifestyles. The headline and byline in a Times editorial said it all “Don’t Fall for Big Pharma’s Savior Act, Heroic work went into the development of the coronavirus vaccines.
SUMMARY: People are going online more and more to sarch for health information after seeing a DTC pharma TV spot. Pharma websites are not consdiered a top resource for infromation on new products. Cost is not that big of an issue for people who have health insurance. Last year was an excellent year for our consulting group.
Introduction Pharma marketing is constantly evolving, with new digital tools, regulatory updates, and data-driven strategies shaping the industry. How do pharma marketing executives ensure they are using the best tools and strategies? However, with so much information available, finding the right resources can feel overwhelming.
According to the Kaiser Family Foundation (KFF), in 2021, the average cost of employee health insurance premiums for family coverage increased by 4% from the previous year to $22,221. health insurers report billions as small providers face stress in the first quarter. The answer may be in offering a value-based healthcare model.
SUMMARY: Online health seeker numbers are still very high, indicating that people are doing their research first before asking for a prescription drug. Online health seekers trust pharma products but find product websites hard to read and inconsistent with their needs. Online ads for prescription drugs are unique.
This comes at a time when industry fart sniffing publications like Fierce Pharma report “pharma continues to shine under the pandemic spotlight. Pharma earned a solid No. Best of all are patients in the US, where prices are highest, and with chronic conditions requiring repeat prescriptions.
Among the 26% of respondents who talked to a health care provider about a specific prescription drug they saw advertised, 16% said they received a prescription for the advertised drug. Online research is used to evaluate new prescription drugs. Is it covered by my insurance? But is this really true across all DTC?
SUMMARY: According to eMarketer, “in 2020, spending on digital advertising in the healthcare and pharma industry will grow by 14.2% One area I do agree with them is that “healthcare and pharma will make up 7.1% Insurers are fighting for customers, and COVID spending is still vibrant. to reach $9.53 this year).
Pharma websites provide the prescription that can help people overcome health problems but too often, they ignore the patient’s responsibility to lose weight and exercise. The FDA should require every pharma product website to devote part of its content to prevention and the importance of exercise.
consumers’ trust in pharma is low, despite the industry’s contributions to ending the pandemic: Only 15% of U.S. consumers say they trust pharma companies more than they did before the COVID-19 pandemic, according to Accenture’s 2021 survey. Even patients will still line up if a prescription drug shows promise.
Consumers have changed their shopping behavior due to the pandemic, and some of those changes are relevant for pharma marketers. The days of someone seeing an ad for a prescription drug and rushing to ask their doctor about it have replaced the quest for more information, usually online. What can we learn from this?
Consumers would ask their doctor about an advertised prescription drug in a perfect world. Most senior pharma people don’t have a marketing background, and agencies have been known to align data with what they want: more money. In our REAL world, that isn’t the way it happens. The research was straightforward.
All prescription drugs don’t make us healthy; they just mask a potentially unhealthy lifestyle that eventually will cost patients and our healthcare system a lot of money, time, and pain. Many Americans think it’s OK to ask people with unhealthful lifestyles to pay higher insurance premiums and deductibles.
If pharma is a business, they will find a way to develop, buy, or acquire new drugs. Prescription drug costs are only a small part of healthcare costs, and by 2028 U.S. Collectively, hospitals boast a margin of 8 percent, a level higher than margins in the pharmacy industry or the insurance industry.
Our healthcare system makes too much money for insurers, PBM’s and pharma companies to change. In 2016, consumers told Aflac that enrolling in health insurance should feel like an experience on Amazon. It’s simple: people trust each other more than pharma companies who they view with a high degree of skepticism.
PBMs, insurers, pharma companies, and hospitals don’t want to give up their profits even if it’s better for the general population. If pharmacies try to fill those generic prescriptions, the claims are rejected. Will pharma and other healthcare companies partner with disruptive organizations?
One study analyzed the drug ads of an anti-hypertensive drug in 210 issues of the NEJM between 1985 to 1996 and showed increased ad frequency was associated with an increase in prescriptions. As a result, just 27% of physicians say they find pharma websites to be a credible source of professional information. But what about online?
QUICK READ: The compensation for pharma CEOs is starting to be reported and it’s off the charts. Pharma, PBM, and health insurance CEOs earn hundreds of millions of dollars to do one thing; make their companies a lot of money. There is a new breed of pharma CEO coming I believe. Bob Bradway of Amgen bagged a $20.1
Should pharma promote wellness as well as prescription drugs on their websites? Should insurers charge obese customers more money in premiums? There are socioeconomic issues tied to obesity that require a multitiered approach to fight but isn’t it time to do that?
You wave your iPhone over a digital kiosk, instantly uploading your current medical record and insurance information. By introducing medication tracking to its existing iPhone Health app, Apple just did for prescription drug users what it did for anyone with a physical wallet or airplane boarding pass. The doctor will see you now.
How is pharma going to get patients back into to ask their doctor about branded medications? Health spending for the calendar year may end up lower than it was in 2019 but spending on prescription drugs has not fallen which could be due to price increases. Year-to-date spending on health services is down about 2% from last year.
Over-the-Counter (OTC) and Prescription (Rx) brands have invested over $3 billion in linear TV advertising during the first half of 2022, with no signs of letting up. Pharma ads generate strong consumer engagement and drive TV viewers to seek additional information online via a search engine such as Google.
The inability to “pull through” a prescription, despite healthcare provider (HCP) field team engagement and educational efforts, stubbornly remains a top client concern after 15 years of working in the market access space. For pharma, it can sometimes feel like a situation beyond their control.
We’ve talked before about how COVID-19 has upended our personal and business lives, and how the pharma industry was able to – impressively – shift gears to meet the challenges the pandemic brought. Here, we offer four ways pharma marketers can help. But what about patients? And what about the disrupted patient journey?
The United States health insurance market is seeing some of the largest enrollment changes ever, resulting in significant disruption in medical and drug coverage for millions of Americans. Medicaid and health insurance exchange enrollment is shifting dramatically across the U.S. to about 2.5
While SaveOnSP is the nominal target of the lawsuit, it claims to expose one of the failings in the US health insurance sector, adding fire to an increasingly heated exchange between pharma manufacturers and pharmacy benefit managers (PBMs), which have blamed each other for high medicine prices in the US.
In April, the US House of Representatives passed the Affordable Insulin Act, which set a price cap of $35 a month for Medicare and private insurance users. Most of the US insulin market is controlled by three pharma companies: Sanofi, Eli Lilly, and Novo Nordisk.
As the pandemic progressed, the platform evolved to meet other needs that have materialised within the healthcare sector, including recently unveiling its “Visitless Prescriptions” service. “We are currently focused on offering a convenient way to get prescriptions. Both drugs are accessible via prescription only.
Additionally, it will delve into the current trends and challenges that pharma companies need to consider when devising successful market access strategies for this unique market. Basic Medical Insurance (BMI), the public insurance that is organized and funded by the government, covers nearly all Chinese citizens.
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