Managed markets, he's our man, if he can't do it, no one can!
Entities that play a large role in drug reimbursement
Large entities that have the power to affect utilization of drugs
Entities that determine drug reimbursement procedures
A and B
B and C
Public and Government
Government and Commercial
Commercial and Private
None of the above
Financial analysis and valuation
Promotion and message platform as it relates to newly launched and approved drugs
Developing corporate strategies to lead the discovery team
Develop and execute strategies to secure access/reimbursement for company products
Department of Veterans Affairs
Department of Defense
Medicare
Medicaid
All of the above
They purchase drugs
They assign higher co-payments to disfavored products
They utilize restrictions that make it difficult to purchase certain drugs
A and C
B and C
Commercial managed care
Medicaid
Medicare
Dept of Veterans Affairs
None of the above
Higher co-pays
Require pre-authorization
Assign it to tier 1 on a formulary
A and B
All of the above
To get into a routine in order to avoid potential prescription hassles.
Because these decisions result in increased reimbursement for sponsoring pharma companies.
Bright line decisions are an agreed upon series of rules that physicians must follow to avoid formulary restrictions
In order to comply with FDA mandated regulations that are imposed on the interaction between Managed Markets and prescribers.
A function within a pharma company (or an outside vendor) that is responsible for a specific communications channel.
A product’s therapeutic classification and its most important competitors.
The people within a pharma company who are charged with developing a strategy for winning favorable payer coverage of company brands.
The discrete customer groups that are targeted by pharma companies: trade, federal makerts, MCO’s, Long term care, and Medicaid/medicare.
A product’s therapeutic classification and its most important competitors.
The discrete customer groups that are targeted by pharma companies: trade, federal makerts, MCO’s, Long term care, and Medicaid/medicare
A function within a pharma company (or an outside vendor) that is responsible for a specific communications channel.
The people within a pharma company who are charged with developing a strategy for winning favorable payer coverage of company brands.
The higher the co-payment tends to reduce the likelihood that a patient will fill the prescription
The higher co-payment tends to result in a favorable position on the drug formulary, resulting in higher costs for the patient.
A and B
A high co-payment presents no problems for patient compliance.
Medicare part D is the first robust outpatient pharmaceutical benefit from Medicare.
It’s managed by public entities, which offer drug benefits consistent with the coverage
It’s the first major outpatient benefit added since the Medicare program began in 1965
Medicare Part D is an outpatient drug benefit provided by the federal government to people 65+ and the disabled.
True
False
New products will always be less expensive than existing products to compete with the existing ones.
Managed markets can use new products to drive the price of existing products down by lowering the formulary status of the existing products
Managed markets can play new and existing product manufacturers off each other to receive more favorable pricing.
All of the above
B and C
Due to the bioequivalence, the generic drug is put on the same level as the existing drug.
The existing formulary status will always remain the same.
The formulary status of the existing product might be lowered.
The formulary status of the existing product might be increased, if possible.
To launch the most effective campaign to market a specific product to patients
To conduct the financial analysis and product valuation required to market a product at the best price
To make sure the company gets the reimbursement and access status required to maximize performance across the life cycle
A and B
All of the above
A pull through
A push through
A bright line idea
A plan of action
FUBAR
Because Managed Markets is the division that creates the promotional platform on which to market a drug.
Managed Markets is a major component of eliminating sales barriers that keep a drug from reaching its full potential.
Because Managed Markets hold the relationships with outside sales channels and are the primary influence on prescribers.
The Managed Markets segment is the primary channel through which sales teams must go, as outlined by their product specific plan of action.
Highest on formulary Lowest Higher Still higher Full cost often borne by patient
Still higher Highest on formulary Higher Lowest Full cost often borne by patient
Still higher Full cost often borne by patient Higher Highest on formulary Lowest
Still higher Higher Lowest Full cost often borne by patient Highest on formulary
The appropriate access goal
The strength of the competition
The key channels and key accounts
The products value proposition
The appropriate pricing and contracting strategies
If the expected revenues after contracting aren’t attractive enough to warrant such aggressive discounting/rebates.
If the required contracting forces the company to jump through too many hurdles.
If the product is such an improvement over the current treatment, the product will sell itself and will not require a favorable position.
If the company has a good enough relationship with prescribers to get them to prescribe despite its disfavored formulary position.
Key channels are determined by the patient demographics associated with the product.
Key channels are determined by with the site of product use/site of care.
Key channels are determined by level and location of existing competition.
A and B
All of the above
Derivative
Customer
Business unit
Centerpiece
Responsibility
Gross revenue and Size
Size and level of control in driving utilization of a product
Level of control in driving utilization of a product and gross revenue
Type of existing treatment and gross revenue
Managed care plans will take into account the impact of the new product on existing treatments.
If the benefits of the product far outweigh the benefits of the current treatment, managed care plans may allow an increase in price that is offset by the benefits received.
If the company can show how their product represents a radical shift in treatment to better the quality of life of the patient, managed care plans may allow an increase in price.
A and B
All of the above
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