The pharmaceutical industry continues to grapple with patient adherence issues. Despite spending billions on marketing and sales efforts to drive awareness and prescriptions, 20-30% of patients still abandon their scripts. This results in huge revenue losses for pharma companies. To help combat this problem, the industry spends around $5 billion on patient education and support programs annually. However, only 3-8% of eligible patients end up utilizing these hub services.
Why? Most often, it’s simply because patients are not made aware of the services available to them. Fortunately, recent years have brought about a significant shift in patient engagement within the healthcare industry. Patients are now more willing than ever to embrace technology, utilizing portals, apps, and remote monitoring to actively participate in their own healthcare journey. This paradigm shift has caught the attention of pharmaceutical companies, prompting them to explore ways to provide patients with the necessary tools to engage effectively.
In this blog post, we delve into the exciting developments in patient engagement, the role of technology and humans, and the importance of data organization in the drive to boost hub use and decrease Rx abandonment.
The Perfect Mix of Data, Technology, and Humans
Pharmaceutical companies recognize the growing need for better patient engagement and are investing heavily in internal systems and vendor partnerships to find the perfect balance between data, technology, and human interaction.
Leveraging technology to organize data is a key step on the path to improved patient engagement, and many firms have made significant progress in this area thanks to their investments in enterprise data platforms (EDPs). Today’s new data systems emphasize the importance of data management in providing a comprehensive view of both patient and prescriber journeys, which can reshape how pharmaceutical companies interact with these vital customers.
Advanced EDPs create a 360° data view that serves as a single source of truth for any patient or prescriber. These platforms analyze data from every prescriber and patient interaction across all support solutions, including hub, copay, field reimbursement manager contacts, SMS/MMS messaging, and more. What’s more, they allow stakeholders to accomplish two discrete but connected data management goals:
- Expertly capture and manage the rich data generated from various sources, such as first-party data (data that pharma firms have access to) and zero-party data (data that patients and prescribers voluntarily and deliberately share).
- Create responsive reporting portals customized for each manufacturer team based on their specific needs. These portals enable teams to unpack rich insights, layer by layer, revealing the specific information they need to accomplish their key objectives.
But data and technology alone are insufficient; fortunately, the human mind and touch fill the gap. For example, a patient can sign up for automatic text reminders when they are due for a refill, but human intervention is needed if a problem arises with their patient assistance program. A personalized touch keeps patients engaged and informed during a situation that might otherwise lead to non-adherence, while the use of mobile technology ensures they receive timely updates.
Humans are also crucial in the analysis of data. Utilizing various modeling techniques for extracting meaningful data insights and for program measurements, analysts play an integral role in several functions, including measuring the impact of programs on patient fill behavior, creating strategic data visualizations and preparing performance metrics for clients, and conducting ROI analyses and reviewing findings.
The goal is to create a seamless experience that combines the efficiency and convenience of technology with the empathy and expertise of live healthcare professionals. Finding this perfect mix is not a one-size-fits-all solution. It depends on various factors such as therapeutic area and lifecycle position, making this an intriguing and ongoing topic of discussion within the industry.
The Role of Hubs
Hubs play a vital role in patient engagement, acting as a central point for coordinating care and providing support. Key trends all signal that pharma brands are experiencing an even greater need for solutions to improve adherence and stay competitive. This presents an immense opportunity for innovative companies that can deliver engagement through a blended communication mix. After all, effective patient communication means using a variety of channels to reach the target audience, and those hubs that can blend technology (email and mobile texting and notifications) with human intervention (phone calls, live chat, etc.) will provide a major advantage for brands and their patients.
Looking ahead, the outlook for patient engagement and the integration of technology in healthcare is promising. The hub services industry looks poised for robust growth in 2024, and the increasing willingness of patients to embrace technology, coupled with the investments made by pharmaceutical companies, indicates a positive trajectory. As technology continues to evolve, we can expect even more innovative solutions that empower prescribers and patients and enhance their healthcare experience. The continuous advancements in data organization will further revolutionize patient care, leading to improved outcomes and a more patient-centric healthcare system.
Reach your Patient Engagement Goals with ConnectiveRx
The future of patient engagement is undoubtedly intertwined with advanced technology. Patients are eager to take an active role in their healthcare, and pharmaceutical companies are responding by providing the necessary tools and resources. ConnectiveRx's Hub Services can help pharmaceutical companies achieve their patient engagement goals. With a focus on integrating technology and human touch, our hub services provide the perfect balance for improved adherence and outcomes. Learn more about our innovative Hub solutions today. Together, we can create a truly patient-centric healthcare system.