By Francesco Lucarelli, chief commercial officer, HCB
Value has so many meanings, but unfortunately the term has become synonymous with cost in the media/political landscape. As agency partners, we can help redefine how our clients communicate value to all audiences: HCPs, patients, caregivers, payers, investors, media at large and even to employees. Our communications efforts have to go beyond efficacy and safety, and focus on the positive impact the treatments ultimately have on patients, their caregivers, and society as a whole.
Two examples that help to bring this into focus: with the ongoing opioid crisis that is impacting millions of lives and countless dollars – both directly and indirectly – any and all efforts to introduce non-opioid or opioid-sparing medications and treatments both in-hospital and in out-patient settings will provide significant value directly to the patient. The benefits include during a recovery period and minimizing risk of addiction, as well as benefit to communities by mitigating the downstream implications that addiction and diversion of opioids brings.
Another example is in the advancements of precision medicine. Great value has come with the evolution of next-gen sequencing (NGS) and the ability to genetically identify not only diagnoses but also responsiveness to therapies. We now minimize delays and misdiagnosis, and the “trial and error” of ineffective therapies. And we can boost the underlying confidence and assurance for both providers and patients. A genetic test that could cost a few hundred to a few thousand dollars can contribute to the appropriate utilization or determination to NOT use a targeted/genetic/immune-therapy – which could cost hundreds of thousands of dollars. THAT is a value often ignored by media and the bureaucrats.
And we agencies need to help our clients share that important message and redefine the conversations around the impact, contributions, and value that their medicines and technologies provide individuals and society.