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June, 2016

SIX COMPANIES EFFECTIVELY PARTNER WITH CONTRACTING DECISION MAKERS

For Immediate Release
Date: June 6, 2016 
Media Contact: Stacey Pollock
949-242-1035 or [email protected]

 

YARDLEY, P.A., June 6, 2016/PRNewswire/— AstraZeneca, Boehringer Ingelheim, Johnson & Johnson HCS, Merck, Novartis, and Novo Nordisk consistently rank highest in all areas of their relationships with contracting decision makers at leading health plans and pharmacy benefit managers (PBMs), according to Relationships with Contracting Decision Makers, part of the Account Management Advantage: Managed Care service from Health Strategies Group.

These six companies understand how to develop “partner”-level relationships with contracting decision makers. “In such relationships, multiple, productive interactions occur at every level between the organizations,” says Robert Shewbrooks, principal at Health Strategies Group. “These relationships are consistently well managed and focused on achieving mutual goals. Contract negotiations tend to go smoothly, and health plans and PBMs will seek out these companies as first-line vendors for program components and support.”

Top Cornerstone Performers

According to the report, only 13% of the relationships that companies maintain with health plans and PBMs are at the partner level. “Out of nearly 2,300 potential relationships with pharmaceutical companies, health plans and PBMs classify 26% as transactional and 29% as collaborative. This suggests that companies continue to have many opportunities to improve their relationships with contracting decision makers,” Shewbrooks says.

The report identified four cornerstones of effective relationships with contracting decision makers: Account Executive Performance, Account Management, Company Approach, and Programs and Services. To improve relationships with these decision makers, pharmaceutical companies should:

  • Ensure account executives have proven track records as internal advocates for their accounts
  • Have balanced interactions that support the account’s needs and objectives
  • Understand the relationships that accounts have with their business partners and strengthen them
  • Offer a wide variety of customizable programs

The Account Management Advantage: Managed Care service is used by managed markets executives and account management teams to evaluate their performance versus key competitors and optimize access to contracting decision makers from leading health plans and PBMs. The latest report describes key strategies, approaches, and practices that companies can use to make their interactions with these decision makers more valuable. The report surveyed 56 pharmacy directors representing 182 million lives, or 62% of insured Americans. For additional information on Account Management Advantage, please contact Robert Shewbrooks, principal, at (609) 397-5282 or at [email protected].

About Health Strategies Group:
Health Strategies Group offers a dedicated team of research leaders committed to dissecting the trends, identifying customer needs, and pinpointing the barriers and opportunities for pharma within the evolving healthcare environment. Recently, Health Strategies Group was ranked the No. 1 market research company that pharmaceutical and biotech executives would recommend. For more information, visit the company’s Web site at www.HealthStrategies.com.

 

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