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Maximize Market Research to Improve Formulary Access Within Managed Markets Sector
Date:6/1/2010

CHAPEL HILL, N.C., June 1 /PRNewswire/ -- Companies invest hundreds of millions of dollars to develop new drugs, and they face countless hurdles in bringing these new products to market.  

To capitalize on these vast investments, successful companies must maximize product uptake across all customer groups: not only among patients and physicians, but also among government and private payers to win formulary access and improve product placement.  

In fact, payer groups represent pharma's largest revenue base, and earning a favorable formulary tier position with a single large carrier can open the door to millions of dollars in potential revenue.

Companies face two main problems in gaining traction with large payer groups. First, since the market for most therapeutic areas and medical conditions is already crowded with similar treatments, companies must be able to articulate a clear medical or economic advantage for their products.  Second, companies often struggle to gain access to key decision makers within the Managed Markets organization.

By anticipating payer attitudes and behavior early on in the product lifecycle, a high-functioning Managed Markets market research group can prove invaluable in setting clinical and commercial strategy.  Also, savvy Managed Markets market research groups provide vital insight and knowledge of the ever evolving Managed Markets landscape.  

A new 64-page report from Best Practices, LLC, Managed Markets Market Research: Effective Structu
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SOURCE Best Practices, LLC
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