Insights

Leveraging Digital to Reconnect with Stakeholders

April 29, 2015

Megatrend #3: The “Trust” Gap: Leveraging Digital to Reconnect with Stakeholders

A 2013 survey of patients found that only 35% agree that multinational pharmaceutical companies have an “excellent” or “good” reputation.1

Issues regarding drug safety, results of clinical trials, pricing and sales practices have undercut public perception of the pharma industry2,3, creating an “engagement paradox,” a disconnect between what patients and HCPs want from pharma, and what the industry wants from its key stakeholders.4,1 The new digital open society – with instant availability of data and information, and opportunities to stimulate active conversations – can increase transparency and help close this perception gap.

But before companies can deliver relevant content, they must first map unmet stakeholder needs, including the entire patient pathway. The patient pathway serves as a central framework for understanding treatment patterns, identifying value-driving factors of a product, and developing accordant health outcomes-oriented value propositions.5

Aligning digital health assets with maps of unmet need for patients and HCPs, and delivering these assets through the transparency of the digital environment, creates desired outcomes for all stakeholders: healthier lives for patients, fulfilment of mission for HCPs, cost control for payers and, ultimately, having patients start on treatment and stay with treatment.

Top management must establish and support internal ethics and compliance procedures while communicating these commitments to the outside world. Digital presents an opportunity for pharma firms to reassert themselves as reliable sources for critically important information, not only on products, but on the diseases and conditions those products treat.

The trend is a product of an evidence-based research study undertaken by the Healthcare Division in Valtech to map the pharmaceutical landscape of digital mega trends. The research study provides essential insights on how Pharma companies could utilize digital engagement to break down stakeholder barriers, impact stakeholder behaviour and demonstrate more cost-effective outcomes. The research study is based on information from 100+ trusted sources and has resulted in the identification of 14 mega trends.

Reach out to gain an understanding of how to execute on the underused digital opportunities

The Healthcare Division in Valtech has developed an analytical framework that can identify the engagement potential of your brand.

Please contact Healthcare Director Conny Carlzon for further advice or to set up an informal meeting.

If you want to know more about the study and Megatrend #3 you can download more information here.

Make sure you did not miss the previous blog posts on pharmaceutical megatrends:

Mega Trend #1: Pharmaceutical CEOs Lack Confidence to Act
Mega Trend #2: Transforming to a Digital Business: A Fundamental Paradigm Shift

Sources:
1. Patientview. Unknown author. (2014). CORPORATE REPUTATION OF PHARMA – THE PATIENT PERSPECTIVE, FEBRUARY 2014. www.patientview.com
2. PwC. PwC Research Health Institute. (2012). Social media “likes” healthcare. From marketing to social business. www.pwc.com
3. PwC. (2012). 15th CEO Survey. www.pwc.com
4. M3 Europe. Tim Ringrose. (2014). Great pharma marketing paradox. www.eyeforpharma.com
5. Ernst and Young. Kimberly Ramko et. al. (2014). Commercial excellence in Pharma 3.0. www.ey.com