Rising demand and associated spending are being fueled by an aging population; the growing prevalence of chronic diseases and comorbidities; development of costly clinical innovations; increasing patient awareness, knowledge, and expectations; and continued economic uncertainty despite regional pockets of recovery are just a few of the key issues and trends impacting the global health care sector. Read on to learn more about trends impacting the global health care sector in 2017 and suggested considerations for stakeholders.
Only nine percent of U.S. consumers believe pharmaceutical and biotechnology companies put patients over profits, while only 16 percent believe health insurance companies do, according to a Harris Poll® study released today. Meanwhile, 36 percent of U.S. adults believe health care providers (such as doctors and nurses) put patients over profits, compared to hospitals (23%).
"We are in the midst of a health care maelstrom," said Wendy Salomon, vice president of reputation management and public affairs at Nielsen. "Consumers see no safe port, no place where their interests are truly protected-and that lack of consumer trust is reflected in the reputational risk we see across the U.S. health care landscape."
Additionally, the Harris Poll of more than 1,000 U.S. adults ages 18+ indicates that while most are neutral toward health care industries, more consumers rate health insurance (24%) and pharmaceutical and biotechnology companies (20%) with low reputations, compared to hospitals (6%), health care providers (doctors and nurses) (5%) and technology (2%). Fifty-eight percent rate the reputation of the technology industry as high, compared to health care providers (43%), hospitals (37%), pharmaceutical and biotechnology companies (20%), and health insurance companies (15%).
"There are undeniable reputational risks for pharmaceutical and health insurance companies – more so than other parts of the health care ecosystem," said Salomon. "Reputation matters to patients, care providers, investors, employees, and potential hires. Positive reputations can pave the way in times of crisis, in times of transition – and when it's critical to have a seat at the policy-setting table."
The battle for the best pharmaceutical marketing practices has begun. And the big guns are now digital pharma marketing gadgets. Social media has slowly but surely bought its place in the pharma marketing budgets, reducing traditional marketing budgets.
NYC-based pharma company Pfizer currently has 15 apps in the US iOS app store, ranging from a chapstick companion app to an app for people with kidney cancer. At the HIMSS Connected Health Summit in National Harbor, Maryland, Pfizer executives talked about two of the company's apps and their broader strategy for developing mobile health interventions.
"We recognize that the data shows patients expect meaningful digital solutions from us, and it is our obligation to deliver that," Judy Sewards, vice president of data and digital innovations, said. "When we think about it at Pfizer, we’re not thinking about what's the next shiny thing, or what's the next widget or what everyone else is doing, but looking through the lens of our patients as people."
For instance, Pfizer's app for smoking cessation, called Quitter's Circle, was developed in partnership with the American Lung Association. Dennis Hancock, Pfizer VP of global commercial solutions, said all the features of that app were driven by insights into the quitting process.
"It would be really easy to talk about buzzwords -- telemedicine, crowdfunding," he said. "While they’re important features to the app, they had to be driven by insights into what the smoker would find useful. I don’t think chasing features is a really good idea in the mHealth space. Let’s start with insights to know what people want and overcome those barriers using the best tools available."
“Pfizer Joins the #Pharma Digital Accelerator Club: Offers $250,000 in Prize Funding for Metastatic Breast Cancer “Disruptive” Technology!”; http://sco.lt/6PtsTR
Like in most industries, players in the pharmaceutical world get a boost when customers the world over feel that they are innovators, act responsibly and are, generally speaking, a force for good. Recently a survey was published scoring exactly how good people in developed countries all over the world feel about big pharma.
From PPC ads to social network advertising, deciding which type of paid digital advertising to use for your next healthcare marketing campaign can be a challenge.
This guide covers the three most important types of paid digital advertising to help you decide which is right for your marketing needs:
PPC (Pay-Per-Click)What PPC is
PPC ads are a type of advertising in which advertisers pay a fee onlywhen someone clicks on their ads. Search engine advertising, like Google AdWords, is one of the most popular types of PPC ads.
When to use PPC
If your practice doesn’t rank highly in Google search engine results, PPC ads can help close the gap.
Organic search engine optimization takes time. PPC ads provide immediate results. PPC ads like Google AdWords also provide a plethora of digital data about the ad’s performance and keyword success.
You can use this feedback to adjust your ad’s message, the time of day the ad is shown, and narrow down the geographic region. For example, let’s say your urgent care practice wants to reach more mothers searching for urgent care for their children.
Using feedback from the campaign you’ll be able to narrow down which keyword phrases are most popular with your target audience (e.g., “urgent care children” versus “urgent care “pediatrician”) and adjust your campaign accordingly for maximum ROI.
RetargetingWhat Retargeting is
Retargeting is a type of advertising that utilizes “cookie-based technology” to track target customers who click on one of your paid ads or visits a specific page on your website.
You place a piece of code on your website that drops an anonymous browser cookie. Later, when your visitor browses other websites, the cookie will tell your retargeting provider to show an ad for your healthcare practice.
Retargeting is highly effective since it focuses your advertising spend on potential patients who have already demonstrated an interest in your practice.
When to use Retargeting
For most websites, only 2 percent of visitors convert into customers, clients or patients;retargeting allows you to stay in touch with the other 98 percent. Retargeting is great for advertising campaigns with KPIs like new patient online appointments or sign-ups for a blood drive event.
If a potential patient or donor visits the sign-up page but fails to submit the form, you can use retargeting to continue advertising to the prospective patient in an effort to bring him or her back to your website and complete the sign-up form
Social Network AdvertisingWhat Social Network Advertising is
With Facebook’s estimated social media advertising predicted to top $11 billion in revenue by 2017, according to the Marketing Tech Blog, social network advertising is big business. That’s in part because social network advertising allows businesses, including healthcare providers, to find new potential clients, customers, and patients by using social network user’s own information to identify possible interest.
Rather than relying on keyword searches to identify user intent, social media advertising can build your brand awareness with prospective patients before they even begin to search.
When to use Social Network Advertising
While paid search (e.g., PPC ads) is great for driving visitors to your website based on search intent, what if no one ever searches for your search terms, or if the most effective search terms are too expensive for your practice to bid upon?
What if you just want to build brand awareness around your healthcare practice? In both cases, social network advertising is the best option since it allows for advanced targeting, provides reliable conversion tracking, and works equally great on mobile devices and desktops.
You can target prospective patients by interest, behavior, connections, and “lookalikes” (reaching new people who have the same profile characteristics as people who already care about your business)
Digital Marketing For Pharma Companies – One cannot deny the power of online marketing for pharma industry is taking the world by storm. As we all know the upcoming generation and time is the era of online business. Even the people all over the world are well versed with internet in their …
Six of the top 25 largest global pharmaceutical companies announced the formation of Align Biopharma, a new group dedicated to setting technology standards that will make it faster and easier for healthcare professionals (HCPs) to connect with the life sciences industry. Founding members, with input from across the industry, will develop open standards and solutions for companies to streamline how HCPs get the drug and treatment information they need to deliver improved care to patients.
In ophthalmology, Allergan and Novartis, the parent company of Alcon, are members of the group.
“Common industry standards can make it more effective and efficient for life sciences companies and healthcare professionals to connect,” Patrick Retif, VP IT, Global Commercial at Allergan, said in a news release. “Working together can help harmonize digital engagement and information access across the industry and create a better experience for our shared customers.”
The rise of specialty drugs to treat complex diseases is creating a greater need for HCPs to have more timely and tailored information. As the number of new drugs increases so does the amount of information healthcare professionals require to facilitate patient engagement. There is significant potential for biopharmaceutical companies to use digital technology to inform HCPs on new or more complex treatments.
Initially, Align Biopharma will focus on developing two new standards to facilitate seamless digital engagement and simplify the HCP experience:
Identity management – definition of an identification and authentication standard to enable a single sign-on for HCPs to access online content – including websites, portals, virtual events, or webinars – across all companies.
Consent and communication preferences – definition of standards for consent and preference management so that there is consistency in how HCPs specify communication preferences with each company.
“Digital is transforming how life sciences companies and HCPs collaborate and interact,” said Paul Shawah, vice president of commercial cloud strategy at Veeva Systems. “With the proliferation of advanced treatments and digital channels, adhering to industry standards will simplify the challenges doctors face in getting the right information quickly.”
According to Facebook Health industry manager Danielle Salowski, it's the combination of reach, scale, and engagement that make Facebook and Instagram useful tools for healthcare marketers. Facebook reaches 1.7 billion people around the world per month; on mobile, it reaches more than one billion people every day. Similarly, there are 500 million people using Instagram every month and 300 million each day.
Boston-based Rest Devices has announced a collaboration with Johnson & Johnson to develop a smart, personalized sleep coaching system for babies (and their parents, hovering over their crib with a smartphone). The offering, which consists of a wearable baby monitor called Mimo and a companion app called Nod, was announced during the Consumer Electronics Show in Las Vegas this week.
Marketers are taking to Facebook Live en masse, but can live social video work as a marketing tool for pharma? Yes, experts say—and it might be easier than expected.
The easier-than-expected part is that pharma marketers can and should build on live content they already use. For instance, pharma companies could use Facebook Live to stream conference speeches by key opinion leaders with added interactive elements, such as a question-and-answer session after.
The recent Novartis Facebook Live chat with Queen Latifah about heart disease (read “Novartis, Queen Latifah, & American Heart Association Team Up on Facebook Live Broadcast”; http://sco.lt/6caCxN) is another good example of a “safe” experiment where pharma can engage with patients and caregivers through disease awareness and community building,said Dave Wieneke, digital strategy practice director at Connective DX.. Patient stories in general are a good use of Facebook Live in both the initial broadcasting and in the ability to access those authentic social stories later, said Wieneke.
Another bonus to Facebook Live is audience building. During any particular session, viewers can click to follow all future Live sessions from the marketer.
In general healthcare, Wieneke noted several hospitals including the Mayo Clinic, UNC Healthcare and Children’s Hospital of Wisconsin successfully using Facebook Live with live-streaming events such as “ask a doctor” sessions, lectures, fundraisers, and guided tours. UNC Healthcare, in fact, reported results of its Facebook Live streaming that included a 480% increase in daily interactions and a 75% increase of page likes in the first six months. One of its live chats about the Affordable Care Act has been replayed more than 2,000 times.
The risks, which pharma companies tend to fall back on when it comes to new forms of media, are more about being live than the use of video. Potential comments made during interactive sessions around off-label use, incorrect information, or the reporting of an adverse event, for example, are the same risks as at any live event, said Wieneke.
“We don’t want to miss the train of digital health” is a phrase I often hear from pharmaceutical companies. However, there are no trains to catch anymore. Disruptive healthcare trends are the futuristic spaceships many pharma companies don’t even see flying above them. If pharma doesn’t prepare for the coming waves of change, it won’t …
The global prescription pharmaceuticals market was estimated to be USD 1,114 billion in 2015. The market is mature and highly consolidated. The top-10 pharmaceutical companies in this market had share of over 30% in 2015. These companies are large and established organizations that are primarily located in U.S. and Europe. They offer drug products for…
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