Advice For Biopharma
By: Brian Kelly, MD | June 18, 2013
In my career, I’ve spent time on both the payer and the provider side of the business. And now, as president of payer and provider solutions for Quintiles, I spend a lot of time talking to biopharmaceutical executives who ask me how they can interface with payers and providers. My answer is simple: payers and providers in the future are only going to pay for outcomes. And as good as your products may in a clinical research setting – they will judge it by how effective it is in a real-world setting.
This is a new paradigm for biopharma, and it will require them to think beyond FDA or EMA approval, and force them to make patient-outcomes the end goal of their discovery, development and delivery model. It is time for biopharma companies to recognize that in the very near future, they will have to demonstrate that their products, when used properly in the right setting, will produce an outcome that is worth the cost of their product or service.
My advice to pharmaceutical CEOs is to focus on delivering great outcomes for the disease states their companies are developing new novel therapies for. Don’t just ask yourself ‘how do I develop the best product?’ Think about how that product can be best used to produce the best outcome.
If you can answer that question, you will be on the right path to delivering value in the new systems-oriented healthcare environment.