Opportunities ripe for life sciences companies to “get closer” to consumers
NEW YORK, November 12, 2013 – Faced with rising out-of-pocket costs, complex treatment plans, and armed with new social media tools and more information, pharmaceutical customers are changing the ways they purchase drugs and their role in drug use. That shift creates valuable opportunities for the life sciences sector to benefit from deeper insights from the individuals using their products, according to a new report by PwC’s Health Research Institute (HRI).
“Patients are exerting greater control over their healthcare and they want their medication experience to be effective, personalized and meaningful,” said Karla Anderson, principal, PwC. “If their expectations are met, they’re more likely to follow the proper course of treatment and remain engaged customers far longer. Drug makers that tap into critical information about customers and their behaviors in order to adjust business strategies will be well-positioned to demonstrate value in the new health economy.”
Drug companies have long communicated directly with patients – through advertising and focus groups. But in today’s complex and competitive environment, a more sophisticated customer segmentation strategy is needed. Pharma customers expect the same focus on their needs that they experience in other industries such as retail, banking and travel. When drug makers adopt a more customer-centric approach, the result is more engaged patients who “own” their treatment plans and better manage their conditions.
HRI’s report, entitled Customer experience in the pharmaceutical sector: Getting closer to the patient, includes survey results from more than 700 U.S. consumers about their preferences and behavior in drug treatment selection and use. Additional key findings include:
The report also highlights defining elements of the next generation patient including appetite for personalized information and real-time feedback, active participation in care and treatment, convenience and on-demand services, and options for comparison shopping.
“Understanding consumer behavior isn’t a one-time event – rather, it should cover the full lifecycle of a drug. As empowered consumers take on more responsibility in their healthcare, drug makers must find ways to create meaningful experiences and relationships with them,” said Paul D’Alessandro, PwC principal and Customer Leader, Health Industries.
This latest report, Getting closer to the patient, is the fourth in a series of HRI reports on the customer experience in healthcare that incorporate insights from PwC’s Experience Radar group, including Scoring healthcare: Navigating customer experience ratings; Customer experience in healthcare: The moment of truth; and Social media “likes” healthcare: From marketing to social business. Two additional Experience Radar reports focus on Consumer Insights for the US healthcare payer industry and Customer Insights for the US healthcare provider industry.
About PwC Health Research Institute (HRI)
PwC’s Health Research Institute (www.pwc.com/hri) provides new intelligence, perspectives, and analysis on trends affecting health-related industries. The Health Research Institute helps executive decision makers navigate change through primary research and collaborative exchange. Our views are shaped by a network of professionals with executive and day-to-day experience in the health industry. HRI research is not sponsored by businesses, government, or other institutions.
About PwC’s Health Industries Group
PwC’s Health Industries Group (www.pwc.com/us/healthindustries) is a leading advisor to public and private organizations across the health industries, including healthcare providers, pharmaceuticals, health and life sciences, payers, employers, academic institutions and non-health organizations with significant presence in the health market. Follow PwC Health Industries at @PwCHealth.
About PwC US
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