Beyond key account management: the value revolution
Today, few in the pharmaceutical industry need to be convinced that key account management (KAM) will be a cornerstone strategy in selling pharmaceuticals. But is KAM living up to the great expectations? Some pharma executives believe that much more must be doneand start pushing the boundaries.
They have found new ways of engaging healthcare payers and providers in true partnerships for healthcare value. This new level of collaboration and joint innovation between pharma companies and their customers allows them to create tangible win-wins and unlock new growth opportunities. In the future, this may well be the way that pharmaceuticals are most successfully brought to market.
What these pharma companies do, how they do it, what results they achieve, and how payers and providers respond to this approach is the subject of the eyeforpharma event Selling Pharmaceuticals in 2015.
With this blog we want to create an additional space to contribute to the discussion, and share some of our insights from helping pharmaceutical sales organizations move from a focus on product-selling to a customer and patient-centric, value-based model.
Where did they start? What were the key success factors? What operational changes were required? What new processes, tools and enablers needed to be created? How did the organizations go about managing the change process, and how long did it take? What results were achieved? What ideas could be applied to your company?
For too long, pharmaceutical companies have been put on the hot seat in the debate about exploding healthcare costs, excessive marketing etc. Partnerships for value can be the game changer. We already see that relationships between payers and pharma companies - usually at best distant and frequently adversarial - are changing dramatically for the better in the cases where the new approach has been adopted.
The first experiences with value-based models in pharma are encouraging and exiting. While some companies are spearheading this value revolution, and others are pondering whether to jump on as fast follower, everybody in pharma should be interested in keeping tabs on these developments.