Current state of MMx in life sciences and ways to transcend it toward patient care.
Real world evidence (RWE) has traditionally been leveraged to inform predominantly product development decisions, payer contracts, and health economic and outcome research (HEOR) studies. There is now an increased emphasis on leveraging RWE across a broader range of business functions given the industry shift towards specialty drugs and the treatment of rare diseases. Now with more outcomes-based contracts being designed, providers are being expected to measure and report patient health outcomes, with respect to specific goals and to payers for reimbursements. Pharma companies must to re-think their commercial strategy to align with the evolving dynamics in the industry and needs of their customers.
This whitepaper addresses how RWE should be leveraged for informing various commercial decisions with a deeper dive into marketing-mix analysis (MMx). MMx has traditionally been designed to maximize metrics like sales, revenue, and new prescriptions as a function of promotional spend. This paper demonstrates how MMx should incorporate measures like adherence and improved patient health outcomes in designing a promotional strategy.
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