Post LOE – Copay Optimization and Performance Tracking
The brand team for a top 5 pharma company had their hands full trying to manage a portfolio of post LOE brands. They needed a turn-key way to determine the best approach for their copay programs and a streamlined way to track brand and copay program results across businesses…
How Are You Defining Patient Copay Program Optimization?
What is your definition of copay program optimization? Many potential clients ask us how we define copay program optimization. We don’t actually define copay program optimization… our customers define it for us. The copay program should support the brand and program objectives and not the other way around. This involves optimizing key program elements: Program […]
What Should Your Copay Program Utilization Rate Be?
One of the questions we are frequently asked is what a brand’s copay program utilization rates should be? What are the brands that are “doing really well” getting? As my grandmother once said “what is good for the goose might not be good for the gander!” Utilization rates (# of copay claims / TRx’s) depend […]
How to Calculate Your Patient Copay Program’s Real Value
Years ago, pharma marketers and senior management teams were asking themselves if copay programs were worth having in a brand’s repertoire. Over the years it has become clear that copay programs have provided a tremendous benefit for patients and therefore brands also benefit from lower abandonment and higher adherence rates. For most brands the result […]
The Five Most Misleading KPI’s Used in Copay Evaluation
There are many commonly used KPI’s for planning or evaluating copay programs. Here is my list of a few of the commonly used KPI’s and examples of why each one can be very misleading if looked at individually: 1. Cost per Claim – The cost you paid on average for each claim derived from your […]
A Sound Copay Program Analysis Has to Involve Forecasting Your Offer Ineligible Patients (OIP)
There is a major flaw in the way companies evaluate their copay incentive programs and it can cause a brand to overspend. When it comes time to renew a program, a brand may choose to increase their patient incentive offer intending to increase sales (lower the face value from $20 to $10 for example). The […]
Attracting your Optimal Patient Mix
You know your patient copay subsidies are powerful tools for your brand and can make all the difference in the world for your patients to both start and stay on therapy. But did you know your copay offer can also be used to attract the right mix of patients to your brand? Understanding how you […]
Specialty Medication and the Patient Copay Offer
As you likely know, a “specialty” medication is a drug that treats rare and/or complex diseases and disorders. There are many complexities and challenges associated with getting patients on a specialty medication and keeping them on therapy. Typically, a patient will need a prior authorization, step therapy or some other type of authorization, and will […]
Understanding your Pre-Copay Program Patient Universe
There are many things you must consider when planning your copay program, but one of the most important things is a step that is skipped by the majority of brand planners. To plan programs and project program cost you need to know what your patient’s OOP cost would be before the copay program. Many use […]
Optimize Your Copay Program’s Business Rules
Now more than ever, you’ll need to understand and pay more attention to the business rules in your copay program. This is an essential step to ensure all your strategic thinking gets executed at the pharmacy exactly as you thought you had defined it. There are many examples where loosely built business rules cost brands […]
Are Cash Cards Killing your Copay Program Budget?
If you are a pharma manufacturer today, you most likely have a patient copay assistance program in place as it is a necessary piece of your patient affordability strategy. You may feel these programs are set up with pretty strict business rules which should ensure that your monies are going to the intended patients and […]
Make Sure to Consider HDHP Influences
A quality copay program analysis considers the influence of high deductible health plans on patient out of pocket costs. It’s not like the old days when you could just go to your managed care group and they would say 92% of all commercial patients were covered to an average out of pocket of $50. Back […]
Consider Your Copay Program When Going LOE
Is your brand going LOE in the next 18 months? If so, it’s time to plan both your final years’ copay program structure and your “post LOE” copay program structure as well. Since you will most likely begin to lose managed care coverage, a big consideration will be planning your copay strategies for the coming […]
Why a Brand Dashboard is an Essential Tool for your Product Launch and Beyond
A product launch is a very hectic time, but the work doesn’t stop once your product hits the market. With so much going on, you need one go-to tool to track your progress and produce the essential information you need to effectively manage the business, while also keeping your senior management and investors abreast of […]