Top 10 Pharma Firms More Likely to Establish Dedicated Patient-Centric Marketing Groups

DURHAM, NC--(Marketwired - February 01, 2017) - Three out of four surveyed Top 10 pharmaceutical companies have dedicated patient-centric marketing groups in place, according to a recent study published by Cutting Edge Information.

However, company size plays a significant role in assigning the functions involved in developing patient-centric attitudes. By comparison, only one-fourth of small pharmaceutical and medical device firms reported having dedicated patient-centric marketing groups, while just over one-fifth (21%) of Top 50 companies claimed involvement in this same function.

The research study, Patient-Centricity 2.0: Communication Strategies to Boost Patient Engagement, found that at 71%, medical affairs the most common function that Top 50 companies involve in dedicated patient centric teams. Surprisingly, only 46% of Top 10 companies involve medical affairs when developing patient-centric attitudes. Small companies reported involving the medical affairs function 63% of the time.

"To embrace patient-centered attitudes effectively, life sciences companies need to create an ideal that incorporates and is able to impact all aspects of the organization," said Adam Bianchi, senior director of research at Cutting Edge Information. "Firms must be in contact with multiple stakeholders who can help define corporate attitudes and determine realistic goals to set."

Small pharmaceutical companies may not have the necessary in-house resources or needs to develop dedicated patient-centric teams. These organizations are more likely to look to other functions to individually develop patient-centered attitudes and goals.

Patient-Centricity 2.0: Communication Strategies to Boost Patient Engagement, available at https://www.cuttingedgeinfo.com/research/marketing/patient-centricity/, explores different types of patient-centric programs and various drug companies' experiences to develop best practices around new strategies. The report's aggregate data and individual profiles on patient-centric programs provide insights on a wide range of initiatives. The study is derived from firsthand conversations and surveys from life sciences executives involved in patient-centric organizations. It is designed to help pharmaceutical and medical device companies:

• Benchmark the costs to implement patient-centric initiatives, including staffing and time duration to plot successful initiatives and ensure adequate support.
• Learn effective methods for measuring ROI for patient-centric initiatives -- a consistent challenge for patient-centric programs.
• Increase awareness of -- and improve strategy and planning for -- patient-centric initiatives.
• Determine best-fit structures for disseminating patient-centric communication.

For more detailed information on Cutting Edge Information's patient-centric benchmarking research, visit http://www.cuttingedgeinfo.com.

Image Available: http://www.marketwire.com/library/MwGo/2017/1/31/11G129018/Images/January_2017_-_PH222_-_HH_-_Top_10_Pharma_Firms_ar-2479798d5f7b8be0a9db37cf9ef5d17d.jpg