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The Value of Customer Centricity

The theme for Merkle’s 10th Executive Summit, taking place from June 10 to June 12 in Charleston, SC, is “Connected CRM – Monetizing Your Customer Strategy.”  Given the recent focus in the Life Sciences industry about moving from a brand / tactic centric focus to a customer-centric approach, it is important to make sure we have visibility into how that move delivers value.  One question that I hear frequently: how do life sciences companies scale customer-centric promotion programs for both physicians and patients? 

We’ll start with patients, specifically focusing on adherence programs.  While we generally consider adherence to be defined as the percentage of doses taken as prescribed for a specified period of time (length of therapy), it is also recognized as the combination of persistence and compliance. Persistence is the degree to which patients remain on therapy from initiation without a meaningful interruption. Compliance measures the quality of patient behavior relative to following treatment guidelines for a specific time period.

As we look to monetize our customer strategy with an eye to influencing adherence (and possibly compliance), we need to consider our tactics within the scope of a broader strategy that focuses on:

  • Better educating healthcare professionals (HCPs) relative to a given product’s therapeutic value proposition, specifically as it relates to patient continuity
  • Targeted patient education, or complementary efforts through a clinic/HCPs office that speaks to the therapeutic value of continuity relative to their personal situation
  • Pharmacist patient:drug utilization communications that recognizes their role in patient adherence
  • Improved formulary communication, and appropriate messaging targeted to HCPs based on the top ten insurers active with their patients
  • Formulary communication that emphasizes co-pay, education and the benefit to patients potentially at risk of non-compliance

The above tactics, as part of an integrated promotion plan tailored to each customer based upon their preferences, will improve customer engagement, leading to increased revenue and ROI.

Healthcare providers and health institutions are going to be increasingly recognized and rewarded for reduced readmissions and improved patient-reported outcomes and quality of life. Because of the changing regulatory landscape, it will become paramount for life sciences companies to understand how to become patient-centric, and how to gain value from doing so.  Join us on at the Merkle CRM Executive Summit to learn more. www.merklesummit.com

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