It ' s Time to Stop Using Finances as an Excuse

Finding the balance between profitability and benefits for the target market is a holy grail of every contemporary business endeavor. This is even more so for the pharma industry, where the stakes are high, with far-reaching consequences for patients and society at large.Despite some resilient popular myths, patient focus is extremely cost-effective, as demonstrated in eyeforpharma ’s recent whitepaper,Patient-Centric Profitability: Pharma ’s Global Survey& Analysis.A key question raised within the paper is: Given the cost-effectiveness of patient focus, why is there still such considerable debate about the monetary value of putting patients at the heart of pharma?John Gerow, Principle at JG Consulting and Service Team Strategy Partner at Ashfield (part of UDG Healthcare), puts it down to the fact that, “We are challenged in our business today with cutting costs and we have a history of what has worked in the past.” With this in mind, is it merely a lack of flexibility to adapt to new ways of working? Jens Lipinski, Head of Patient Relations at Bayer Vital believes, “Finding appropriate perfo rmance indicators for achieved improvements of real life enhanced trust or improved outcomes from patient focus is the key challenge.”It is true that a few things need to be considered to achieve the desired financial efficiency that is good for patients on the one hand and for pharma on the other, but thiscan be achieved.A strategic necessity, but also a long-term econom...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news