A new kind of payer strategy
The relationships between pharma companies and healthcare payers are not easy - at best distant and frequently adversarial. However, change seems to be coming.
By on Feb 7, 2011The relationships between pharma companies and healthcare payers are not easy - at best distant and frequently adversarial.
However, change seems to be coming.
Only last week, AstraZeneca announced that it will enter into a partnership with WellPoint, one of the largest health benefits company in the US.
The pharma company and the payer are teaming up to determine the most effective and economical treatments for chronic illnesses and other diseases.
Over the next four years, WellPoint and AstraZeneca will share and analyze electronic medical records, claims information and patient surveys from people insured by WellPoint and several regional Blue Cross Blue Shield plans.
The research will include prospective and retrospective observational studies on disease states as well as comparative effectiveness research of multiple treatment options. It will also highlight new therapies most needed for treating and preventing disease.
The companies plan to make their findings publicly available and to expand their partnership to include hospitals and other organizations.
This project bears all the hallmarks of a value-based relationship. Its significantly different from the key account management (KAM)and contracting strategies that usually characterize the approach of pharma companies when they interact with payer organizations.
It is not about selling products and/or services. It is not about pricing and rebating for access. Instead, it means bringing capabilities from both partners to the table to solve a problem or develop solutions together.
Will such co-development partnerships move us finally to the new, value-based selling model everyone in the industry is looking for?