As we head into the New Year, what macro trends will shape BioPharma in 2023, and what is the impact on HCPs and their ability to deliver the best possible care to their patients? How will these dynamics influence our medical communication and education strategies? At Vision2Voice, we keep a steady pulse on evolving trends in the industry and on the changing needs of our clients. As we look into 2023, here are five growing trends emerge that BioPharma leaders should consider.
TREND #1: PERSONALIZATION
Personalized medicine is advancing. So, too, personalized HCP content and engagement opportunities will remain a trend1. This means that we must continue to find new ways to connect with HCPs. Here’s how: 1.) “Meet them where they’re at” through an omnichannel approach2. As HCPs have become accustomed to hybrid models that offer on-demand resources and information3, we need to provide bite-sized educational opportunities and incorporate adult learning principles into medical education; 2.) Implement more opportunities for face-to-face collaboration (i.e., speaker programs, speaker training, regional ad boards, etc.). Virtual medical programs aren’t going away, but in-person events are making a comeback. In fact, in-person speaker programs are among the top three investments in 2023 cited by our clients; 3.) Ensure content and engagement opportunities are tailored to audiences. HCPs and patients, for example, require different levels of detail which should be reflected in the content. Many of our clients are hosting ad boards to understand the perspectives of specific types of HCPs and patients – which begets more personalized messaging and curricula.
TREND #2: COMPASSION IN MEDICINE
A growing body of research shows that compassion in medicine could be a “wonder drug” of the 21st century. Based on Stephen Trzeciak’s and Anthony Mazzarelli’s popular book, Compassionomics, compassionate care matters in meaningful and measurable ways. It has been shown to have physiological health benefits on patients, lower healthcare costs, and even reduce caregiver burnout. While it is recognized as an emerging trend, we still have a long way to go! More needs to be done. As such, med comm plays a valuable role in closing the knowledge gap. BioPharma companies can take action this year by reinforcing the importance of compassion in medicine through peer-to-peer education in several ways. First, they can integrate messages into content demonstrating how drug treatment – combined with compassionate care delivery – positively impacts patient outcomes. Next, they can tap speakers who champion compassion in medicine and can speak to how it improves the patient experience, engagement, and adherence to a prescribed treatment plan. Finally, accounts from patients themselves who have experienced the physiologic benefits of your company’s drug combined with compassionate medical care can be woven into into speaker programs, ad boards, webinars, video, slide decks, etc.
TREND #3: TECHNOLOGY INNOVATION
Automation will continue to transform the BioPharma industry in 2023 and beyond. Artificial intelligence, machine learning, and digital health are increasingly used to support clinical research and generate real-world data4. Technology is progressively applied to ease the patient journey – from diagnosis to treatment to adherence. Similarly, it advances our ability to reach and interact with even more HCPs with greater impact and engagement. Our clients tell us that they’re often challenged with keeping participants actively engaged during speaker programs. That’s why Vision2Voice offers innovative technology platforms and tools to deliver education and create more immersive, interactive experiences that supplement in-person speaker programs. Automation will also continue to be a driving force in streamlining previously manual processes, as BioPharma companies want speaker program portals that can scale and offer greater simplicity, speed, and flexibility – all while being highly customizable vs. cookie-cutter, off-the-shelf solutions.
TREND #4: IMPACT OF INFLATION
We see that the Inflation Reduction Act of 2022 will remain a pressing concern for the BioPharma industry. The bill allows Medicare to negotiate prices on up to 60 drugs by 2029, while curtailing the pharma industry’s pricing power in the U.S.5 Drugmakers will need to justify the cost to health plans as well as to government agencies, especially as more specialty therapies surface in 20236. Equally concerning, the bill could also shift research dollars away from small molecule drugs such as cancer treatments5. More than ever, BioPharma leaders are under pressure to contain costs and prioritize initiatives that deliver the best scale, value, and savings. In this current economic climate, they need to optimize the right mix of med comm programs to reach the highest number of HCPs in the most cost-effective manner. Our clients are making their biggest 2023 med comm investments in speaker programs, speaker training, ad boards, and content development. Along with these investments, they expect meticulous attention to capturing provider feedback and other metrics to evaluate program effectiveness and make periodic refinements to their med comm plan.
TREND #5: RESTORING TRUST
More than 70% of BioPharma executives surveyed by the Deloitte Center for Health Solutions said that improving trust will be important in 2023.6 We couldn’t agree more. There’s an industry movement toward a stronger ethical consciousness and intolerance for any form of public deception that puts patients’ lives at risk. We’ve seen it most recently with the Theranos scandal and Elizabeth Holmes’ sentencing, which set the tone for 2023 and years to come. As industry leaders, we must be intentional in our commitment to ethics and integrity, which provides a foundation for businesses to look inward in order to help us become the best version of ourselves. In partnership, med comm firms and BioPharma companies need to be on the forefront of upholding the highest standards by conveying the most accurate, honest and transparent information to help HCPs provide the best possible patient care.
WE CAN HELP
Let’s make 2023 our best year as we embrace these trends, move toward a more positive outlook, and implement solutions that help HCPs achieve better patient outcomes. Learn more about how we can support you with innovative medical communications programs that support evolving industry dynamics. Contact us at 1-773-993-0393 or visit www.vision2voice.com.
References:
- https://www.medicalaffairsspecialist.org/blog/4-medical-affairs-trends-for-2023-and-beyond#:~:text=Omnichannel%20communication%2C%20patient%2Dcentric%20initiatives,projected%20to%20continue%20into%202023.
- https://www.pharmalive.com/what-matters-the-most-the-trends-that-will-shape-pharma-marketing-in-2023/
- https://cdn.intouchg.com/intouchg/wp-content/uploads/2022/11/18084941/2023_Trends-POV_EVERSANA-INTOUCH.pdf
- https://www.BioPharmaadive.com/spons/BioPharmaa-trends-leaders-should-consider-for-2023/638122/
- https://www.BioPharmaadive.com/news/pharma-drug-pricing-response-congress-inflation-reduction-act/629680/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-12-
- https://www2.deloitte.com/us/en/blog/health-care-blog/2022/2023-outlook-for-life-sciences-inflation-talent-ai-are-top-issues-for-BioPharmaa-and-medtech.html
