1. Healthcare Providers prefer to get their information from other ‘peers’
After training, Healthcare providers (HCPs) rely quite a bit on the pharmaceutical industry to provide important product & literature updates. As a matter of fact, 65% of research in medicine is driven by pharma. That said, several studies have shown that HCPs prefer information from other ‘peer like’ colleagues in pharma like MDs, PharmD, and Ph.D. professionals.
2. Today’s medicines are more complex.
There has been a significant shift to more specialized drugs. Biologics, personalized medicine, pharmacogenomics, artificial intelligence, digital health, and rare/orphan disease products are on the rise. Educating the medical community on these products requires professionals that have a strong clinical and/or scientific background.
3. Pharma industry liability will only increase.
2018 was the year of the ‘opioid crisis.’ And many pharmaceutical companies were right in the center of this firestorm. Companies like Purdue Pharma let sales reps go and relied more heavily on MSLs. Having professionals that provide more objective information minimizes risk to companies.
4. Physicians are not the only external stakeholder to pharma anymore.
The influence of stakeholders for pharma has expanded significantly. Payers, PBMs, regulatory KOLs, patient advocacy groups…well, you get the point… the list goes on and on…A thorough understanding of our complex health system (IDNs, ACOs, etc…) is needed coupled with a strong understanding of cross-functional groups in pharma.
5. Access to healthcare providers is tougher than ever.
Access to HCPs has gotten difficult. Physician reimbursement is lower. They value their time and need to see more patients, deal with more administrative hurdles and don’t want to waste time. Bringing a high level of value is key.