RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Responsibilities for pharmaceutical market access teams require a deep combination of hard and soft skills, according to a study by Cutting Edge Information.
Team members’ tasks are scientific — understanding medicine in order to work with clinical teams for necessary trial endpoints. But their responsibilities also require economics knowledge and interpersonal skills, as they need to network with payers and negotiate an optimal, but realistic, reimbursement amount.
The study, “Market Access and Reimbursement: Demonstrating Product Value to Meet Payer Demands,” found that market access activities also require marketing skills and a strong understanding of regulations in any country where the company plans to launch. An interviewed director of market access admitted to having trouble finding a full mixture of these skills in potential hires for a team position. However, finding an ideal match is not entirely necessary if the company is willing to expand the team to be as effective as possible.
Such an expansion is difficult for companies to attempt without certain payout, however. One Top 50 pharmaceutical company currently has only two employees working on market access activities. Ideally, the director would set up a team with one employee focusing on each of these market access activities:
• Implementation in different countries
• Value dossier creation
A senior director at a small pharmaceutical company views market access as having two sides: pricing/reimbursement and HEOR. Finding employees skilled in both, however, is almost impossible below the director level. “If I were looking for a team of people who have experience in both,” he explained, “it would be an almost null set of people you could hire.” Therefore, this senior director’s ideal market access structure would be a siloed team consisting of a pricing side and an HEOR side.
The study, “Market Access and Reimbursement: Demonstrating Product Value to Meet Payer Demands” (http://www.cuttingedgeinfo.com/research/market-access/global-strategy-structure/) contains strategic recommendations for implementing market access activities and overcoming challenges to meet growing payer demands. Market access executives use this report to:
- Establishing a top-notch, competitive market access team
- Effectively manage budget allocation for different departments
- Ramp up market access involvement as products near launch
- Overcome challenges and discover current market access trends
For more information about market access benchmarking, contact Cassie Demeter at 919-403-6583.