Market pressures to reduce healthcare costs without compromising safety and quality have resulted in a paradigm shift among stakeholders when it comes to product VALUE.
The total value of pharmaceuticals comes from a multitude of intertwined experiences and parameters pertaining to the various entities at stake. Value to the patient, to the prescriber, to the payer, and to health authorities are all key components of the product valuation. The utility of the product determines the patient’s perception of value, whereas other factors influence the value perceived by the physician, payers, or other stakeholders.
To understand the true value of pharmaceuticals it would be prudent to go beyond the commonly used outcomes of morbidity, mortality and quality of life. Indeed, other attributes such as ease of compliance, fewer side effects, doctor familiarity with the product, and patient understanding of the treatment should also influence how a drug is evaluated.
Limiting product value to the perspective of a single organization or entity, regardless of what other stakeholders perceive as valuable, risks making your product land outside your target market. We believe that a shift towards an appropriate approach that puts the consumer at the center without alienating all other groups is a far more robust approach.
partner 4 health can help you search, package and analyze data from multiple sources to spurt out the value of your product and make it visible to all key stakeholders.