The Covid-19 pandemic has rapidly progressed the innovation and uptake in the Telehealth space. Throughout this blog we break down the impact in which this rapidly growing trend will have on the Pharmaceutical Industry.
Physical interaction between the patient and prescriber was the traditional form of treatment and marketing. However, the pandemic has altered familiar models. Thus, 2020 gave rise to new trends in pharma marketing, such as Telehealth, with software tools that allow doctors to deliver healthcare services to patients remotely.
According to the Future of Work 2020 IPA and BCG report, over 70% of prescribers are willing to engage with healthcare companies exclusively using digital mediums. Therefore, you should take part in the adoption of new technology in the pharmaceutical industry.
It has already started. You can easily look around and see healthcare professionals and pharma organizations that are implementing new Telehealth opportunities to leverage value and boost sales.
Improving Adherence
Telehealth could also contribute to combating patient non-adherence, which has implications for patient treatment responses and companies’ commercial activities. Studies suggest non-adherence, to varying extents, is a pervasive problem, being present in up to 50% of patients. Telehealth services like smartphone apps, emails or e-health platforms can provide usage directions and alerts to remind patients to take their medication, and early findings suggest such features increase compliance. Given the negative impacts of poor adherence on treatment outcomes, telehealth interventions could result in improved patient health outcomes and a better positioning of products in the market.
Engaging The Patient
Increasing digitalisation in healthcare is also shifting how pharmaceutical companies communicate about their products. Telehealth platforms are now providing a site of exchange between product representatives and healthcare professionals, and opportunities to share information digitally. Building capacities to market effectively in the digital space will therefore be increasingly important in engaging prescribers and outperforming competitors.
Developing Trust
One important challenge in telehealth expansion is earning and maintaining the confidence and trust of patients when it comes to the security and protection of their data. It is of utmost importance that patients can be reassured that healthcare providers are safeguarding their personal and health information. Providers must ensure their systems are highly secure and educate their staff on cybersecurity to help avert attacks and data breaches.
Direct access to the Patient
One growing service in telehealth is digital pharmacies and the market for direct-to-customer prescriptions. As more and more patients obtain their prescriptions through an online provider, companies must re-evaluate and adapt their supply chains. Technologies like A.I. can help manufacturers with supply and demand forecasting and help them produce the right product quantities.
It is clear that Telehealth is here to stay. The industry was already growing pre Covid-19 and has now been accelerated into the mainstream. For Pharmasuitical companies to remain competitive there needs to be adoption of Telehealth Practices in 2021.
Sources:
https://www.avenga.com/magazine/pharmaceutical-industry-trends/
https://media-publications.bcg.com/Future-of-Work.pdf
https://www.who.int/chp/knowledge/publications/adherence_full_report.pdf
