Seizing the Next Opportunity
Pharma has a unique opportunity to pioneer new pathways and business designs for the patient-centered world. But change is accelerating, and the life sciences sector will be left behind if it doesn’t claim its place in the new order. Building on our Roadmap to 2025, collaboration with our advisory board, and previous ideation sessions, this event will foster direct and candid discussion about how pharma can and should play in the value marketplace. We will also evaluate the next generation of business designs.
1Why do pharma companies need to be concerned about population health?
Pharma is starting to encounter a new breed of buyers: patient-centered population health managers. PHMs have full responsibility for total budget, outcomes, and consumer experience for the patients they manage. Their business designs turn the fee-for-service model on its head — what was once a driver of revenue is now a source of cost. If products, services, and therapeutics don’t lower costs, improve outcomes, and help better patient experience, PHMs simply won’t use them.
2How will consumer engagement shift the game for pharma?
As consumers assume greater control over care, pharma companies need to reach out to them with simpler messaging and greater support for how they access, use, and pay for therapy. For example, social networks have grown around consumers with shared health interests, and pharma companies need to find ways to use them to target patients, build relationships, and reinforce their value story. There are many legal, ethical, and capability challenges in addressing consumers this way, but growing consumer power is a change pharma can’t afford to ignore.
3What do you hope for from this meeting?
We want to give participants a strong sense of how the marketplace is changing, how much, and how quickly. We want them to understand the new customers and profound opportunities that come with patient-centered care. We want our guests to come away from a candid, rigorous cross-sector conversation with great ideas about how they can participate in the largest single value growth opportunity of the next decade. As always we aspire to broaden our community of innovators and strengthen the collective commitment to improving the health marketplace.