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Capturing value through collaborative care services: Moving “beyond the pill”

Providing care collaboration services to drive new revenue sources is an opportunity for pharmaceutical companies to evolve their value equation. 

Overview


It is no secret that pharmaceutical companies are under pressure to justify the value of their products and services, as payers and healthcare systems across the globe are working harder to contain escalating costs. These forces are driving the creation of complementary collaborative care products and services that pharmaceutical companies bring to payers and providers as a risk-sharing or value-delivering partner.

With the increased importance of care collaboration services, an opportunity exists for pharmaceutical companies to evolve beyond their traditional relationships with payers and providers to becoming partners. Providing care collaboration services to drive new revenue sources and change the basis of payment for their products is an opportunity for pharmaceutical companies to evolve their value equation “beyond the pill.” To do this, these services must improve patient outcomes and remove non-value adding costs from the healthcare system.

Background
Accenture has worked with a variety of pharmaceutical companies to incorporate care collaboration and to align stakeholder incentives around providing healthcare services to deliver value “beyond the pill.” It is critical to the success of these initiatives to meet the business goals of expanding reach and revenue, while remaining in compliance with commercial and anti-kickback regulations.

In our experience, companies that successfully navigate these issues in a timely manner have a clear, robust process in place to compliantly and efficiently assess the fair market value of any services they are planning to implement.

Analysis

Changes across the healthcare industry are putting pressure on pharmaceutical companies to justify the value of their products and services. Pharmaceutical companies must strive to create and provide new complementary collaborative care products and services to payers and providers as a risk-sharing or value-delivering partner. Providing high quality care collaboration services offers the potential for pharmaceutical companies to use their knowledge to improve patient outcomes while also increasing customer stickiness and demand for their products. It will also allow pharmaceutical companies to play a critical role in the shift to value-based healthcare delivery that is taking hold in most major world markets in partnership with their payer, provider and patient customers.

Industry & topics highlighted

Life Sciences