pharmaceutical marketing

In recent years, the life science and pharmaceutical industries have experienced unprecedented growth. As this momentum continues, it is critical for companies in Pharma and Life Science sectors to effectively engage with their target audience, demonstrating empathy and understanding of their unique circumstances. By fostering trust-based relationships, these companies can ensure long-term success. Scott Vail from MJH Life Sciences, my guest today, will share valuable insights on how organizations can strategically position themselves to achieve their goals and make a positive impact in the industry.

• How can Pharma/Life science companies ensure that their marketing efforts are reaching a qualified, response-driven audience, and why is this so important in this particular industry?
• With so many different marketing channels how do Pharma/Life Science companies decide which channels to optimize with consistent messaging?
• The media landscape is constantly evolving, particularly in the digital space, How can Pharma/Life Science companies adapt to these changes, and what strategies are proving to be most effective for reaching and engaging with their target audience?
• Despite the popularity of digital marketing, print is still a relevant channel for pharmaceutical and life science offers. Why is this the case, and how can companies effectively leverage print in their overall marketing mix?

For more information about how to find quality marketing data to reach your ideal niche client, contact Donna Peterson at 860-210-8088 or dpeterson@worldinnovators.com.

Visit our website at http://www.worldinnovators.com

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In this episode, Ayesha talks about the FDA’s new interactive quiz as part of its Bad Ad outreach program that targets misleading pharmaceutical promotions. Although the Bad Ad program is primarily directed towards healthcare providers, the general public can also anonymously report dubious ads to the FDA’s Office of Prescription Drug Promotion (OPDP), which runs the program. The new quiz is likely a part of more materials to come to help beef up the Bad Ad program, which has been receiving an increasing number of pharma ads for review over the last several years. 

The episode also features discussion about Pfizer and BioNTech’s announcement of the first trial results for their COVID-19 vaccine in young children between five and 11 years of age. The data shows that the vaccine is safe, well-tolerated and elicits robust immune responses in this age group. Despite the promising data, some parents may still be hesitant to vaccinate their young children according to a Kaiser Family Foundation survey. Hear about some of the factors that are influencing vaccine hesitancy among parents.   

Read the full articles here: 

FDA Adds Quiz to Its Bad Ad Program to Combat Misleading Pharma Promotions

Pfizer Shares Positive Data on COVID-19 Vaccine for Young Children, But How Willing Are Parents to Vaccinate Their Kids?

For more life science and medical device content, visit the Xtalks Vitals homepage.

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This episode contains mind-blowing insights into the Pharmaceutical industry, targeting HR managers, personalized healthcare marketing vs. privacy and a new term for you, “Monkey Math.” Whether you’re in marketing or not, this episode will be eye opening about the medicines you take and the unnecessary costs. 

Hey everyone. This is Rudy Fernandez from Creative Outhouse. This conversation with Kyra Hagan is eye opening. For starters, she talks about how 25 – 30 cents of every dollar a company or organization spends on healthcare goes to pharmaceuticals. And many times, there’s what Kyra calls “monkey math”. So there’s a lot of waste. So how you do you get the message to people that there’s a problem and you can solve it? How has he new world of healthcare changed messaging and tactics? Well, that’s why you’re here, isn’t it? Welcome to Marketing Upheaval.

My guest is Kyra Hagan, Vice President of Marketing at RxBenefits. RxBenefits is a technology-based company that helps midsize employers get better pricing on prescriptions for their employees. Kyra has more than 20 years of healthcare IT experience and has a unique perspective on what's going on in the world of prescription drugs, and how mid-sized employers are managing that part of their coverage they offer their employees. We’re talking about that and how she engages her audiences, what's changed with the COVID crisis, and what she sees on the horizon.

Rudy: So let's start with RxBenefits. Who exactly is your customer?

Kyra: Well, RxBenefits actually has three customers. We partner with Employee Benefits Consultants, often called brokers, to bring an optimized pharmacy benefit to self-insured employers of all sizes. At the end of the day, we end up servicing the broker, the HR manager or the benefit leaders inside of that organization and all of the organizations’ employees and their family members, who we call members.

Rudy: So what is the problem that RxBenefits solves for them?

Kyra: Pharmacy is a critical benefit. It's highly utilized by employees, but it's also very costly. And I think today, about 25 - 30 cents of every healthcare dollar that an organization is spending on healthcare benefit is going to prescription drugs, with no sign of a slowdown. Unfortunately, not all of that spending is beneficial. A lot of dollars inside the system are wasted due to poorly negotiated pharmacy buying contracts, lack of clinical oversight and really poor customer value or poor customer service and explanation of the benefits. We exist to help employers bridge those gaps so they can balance the economic and the clinical value of the benefit. That tends to lower the overall cost of the pharmacy benefit by an average of about 26%.

Rudy: That sounds like an easy sell. What kind of barriers could you possibly have that if you say, we're trying to lower your cost for pharmaceuticals, your cost per employee or however you measure that, right?

Kyra: Unfortunately, there's a false perception in the marketplace from HR leaders that lowering cost in the Pharmacy Benefits means lowering coverage. 

View the rest of the transcript and show notes at: https://creativeouthouse.com/pharmaceutical-savings/