Market Access Strategy & Payer Relationships Dominate Average Budget Allocation Among Top 10 & Top 50 Pharma Companies

RESEARCH TRIANGLE PARK, NC--(Marketwired - April 26, 2017) - Surveyed Top 50 companies spend $1.07 million on average for both market access strategy and payer relationships, according to a recent study by primary intelligence provider Cutting Edge Information.

The research published in Global Market Access Strategies: Building Payer Relationships Through Comprehensive Value Stories found that although average spending on market access sub-functions for Top 10, Top 50 and small pharmaceutical company teams varies, the two largest activities for market access teams are consistently market access strategy and payer relationship management, regardless of company type.

Among surveyed Top 10 company teams, market access strategy and payer relationships together are responsible for 76% of total market access spending. In contrast, just 56% of spending at Top 50 company teams and 48% of spending at small company teams are allocated to these two activities.

The study also found that Top 50 and small company teams instead focus their spending on increased health economics and outcomes research (HEOR) and product pricing. Additionally, on average, surveyed small company market access teams spend more on HEOR and launch sequencing than surveyed Top 50 company teams do.

"Overall, market access budgets are on the rise," said Eric Bolesh, senior director of product development at Cutting Edge Information. "However, individual sub-function budgets are subject to slightly more fluctuation."

Budget allocations for market access sub-functions also vary by region. For example, U.S. groups allocate almost twice as much as European, Canadian and emerging markets groups on payer relationships, as a proportion of total market access spending. Patient-reported outcomes are not typically a part of budgets for U.S. teams. Market access teams in Europe and Canada spend a much higher percentage of their budget on product pricing than their counterparts in other parts of the world.

Global Market Access Strategies: Building Payer Relationships Through Comprehensive Value Stories, available at https://www.cuttingedgeinfo.com/product/global-market-access-strategies/, explores emerging trends impacting market access teams and the best practices they implement to obtain better pricing and reimbursement around the world. The study contains detailed market access performance metrics, including ideal time frames for involving market access teams in supporting new product launches. Use the report's benchmarks and market access team priorities to:

• Set market access budgets
• Analyze market access sub-functions -- such as HEOR -- activities that receive higher priority and resource allocations
• Develop stronger payer relationships by deploying account managers and incorporating third-party perspectives
• Develop unique launch sequence strategies to capitalize on product value
• Learn how market shifts and uncertainty will have a greater impact on pharmaceutical pricing activities

For more information about Cutting Edge Information's market access research, please visit https://www.cuttingedgeinfo.com/product-category/market-access/.

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