Value: A Balancing Act

There are perhaps few buzzwords bandied around in pharma circles as much in recent years as ‘value’. Companies are actively competing to stress value over volume and highlight their zealous efforts to go well ‘beyond the pill’ and deliver real value for every stakeholder in healthcare, from the patient up.A cynic might suggest that such talk is simply pharma marketing speak but, with ever-tightened purse strings, payers are demanding that pharma delivers on its promises, as they seek to understand how much bang for their buck they can expect when they purchase drugs.“We are over the tipping point,” says Zhen Su, SVP and Chief Medical Officer at EMD Serono. “There is a consensus and alignment that we need to collaborate and be problem solvers. We need to be able to convey the value, because, at the end of the day, we’re all part of the same value chain, from pharma to payers to the patients.“If we don’t work together to be able to clearly communicate and demonstrate the value, we are going to be victims of a blame game within the system, which is neither productive or helps conveys our value to society,” says Su.In many instances, pharma has been very efficient and practical about bringing long-term solutions to society, yet companies are “sometimes still painted as problem makers”, he adds. “This is a wake-up call for these parties to join forces and come together to champion value creation.”When it comes to defining value – often a subjective ...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news