Biopharmaceutical companies engaged in the process of drug development need to become more adept at understanding the behaviour of both the patient and the healthcare system in which they participate.Companies that successfully incorporate a more human-centric approach will make better, well informed strategic decisions. The skilled application of multi factorial insight from clinicians, buyers and patients themselves will drive disruptive innovation and improve the performance of commercial strategy.
Figure 1: Strasys’ insight framework for identifying unmet needs
Current 'human-centric' advocates are onto something
- the impact of disease on the individual’s life
- the severity and chronicity of a disease
- the broader health economy
- the burden of living with and managing a disease
- the impact of current treatment and care
- costs in the healthcare system
- patient goals, motivations, expectations and behaviours
- HCP goals motivations, expectations and behaviours
- all stakeholder perceptions of benefit and value
- tolerance of harm in pursuit of benefit
- attitude to risk and uncertainty
The future of regulation and pricing
New tools, new instruments and new conversations
New methodologies need to be established for accessing, analysing and evaluating the broader impact of market-led insight. At present, many are unsure of how to convert these insights into concrete commercial decisions. Strasys has already developed efficient and ready-to-use research tools, instruments and decision-making frameworks to rapidly evaluate these crucial variables and incorporate them into commercial decisions throughout the biopharmaceutical life cycle. These allow senior leaders to make better-informed decisions about where present and future value sits in their organisations. Moreover, these assets also provide new ways of communicating the vision and true value of biopharmaceuticals to all stakeholders.
Those companies which find ways to ‘connect the dots’ between their therapy areas and the drivers of sustainability and performance in their organisations will realise the greatest value in their portfolio.