Digital Tech and Strong Patient-Advocacy Partnerships Could be a Win-Win-Win for Pharma, Advocacy Groups, and Patients | Deloitte US Bookmark has been added
By Jonathan Fox, Specialist leader, Deloitte Consulting LLP
I’m in Philadelphia this week for the annual EyeForPharma conference where I’ll be moderating a panel looking into how pharmaceutical companies and advocacy groups can take their relationship to the next level. Both sides have something to gain, and the patient could be the biggest winner.
Pharmaceutical companies often collaborate with patient advocacy groups, but historically many of these relationships have been transactional rather than strategic. That has the potential to change, which could help to make these relationships stronger and ultimately better for patients. Digital technologies are creating new collaboration opportunities for pharmaceutical companies, patient advocacy groups, and other organizations. Stronger partnerships with advocacy groups could help pharmaceutical companies forge closer relationships with patients. At the same time, funding from pharma could help advocacy groups experiment and develop more innovative and effective ways to support patients. This is all particularly relevant given the current industry context. Rising prescription drug costs, the opioid epidemic, and Congressional hearings have negatively impacted the public perception of the pharmaceutical sector. According to our 2018 survey of US health care consumers, consumers identify pharma companies as the second to last least trusted source of reliable information on treatments (only above social networking sites).
In an era where public perception of the industry is low, a closer relationship with patient advocacy groups could bring increased credibility to the efforts pharma is making to cure disease and improve the lives of patients. At the same time, a stronger relationship could help to highlight some of the pioneering work advocacy groups are doing.
All groups have something to offer, something to gain
Pharmaceutical companies and patient advocacy groups can be stronger together. Partnering strategically and changing the way they engage with each other could help to create broad, patient-focused health ecosystems. Consider these three strategies:
If you happen to be at the EyeForPharma conference this week, please stop by my session on Tuesday, April 16 (The importance of advocacy groups in driving next generation patient centric platforms and engagement). We will be diving into this topic more in-depth.