The power of medical insights for success in pharma

Medical insights are one of Medical Affairs most powerful tools to drive value for external and internal stakeholders. If medical insights are effectively brought into the company, it will be in the best interest of external stakeholders because their voice will be considered. And at the same time leveraging these business-critical medical insights will drive competitive commercial advantages for the brands.

But what exactly constitutes "business-critical medical insights" that allow product and brand teams to make informed decisions, optimise their strategies, and ultimately, improve patient outcomes?

According to Chris Toller, CELforPharma faculty member of our 2-day Strategic Medical Affairs for Modern Pharma course,  following are the six components of medical insights that are crucial for Medical Affairs professionals.
 

1. Patient Insight
   Understanding the needs, attitudes, and motivations of patients and their caregivers is a fundamental aspect of medical insights. By gaining insight into the patient's perspective and disseminating those insights internally, Medical Affairs professionals have the key to better tailored strategies and communications to address the unique challenges and concerns faced by patients and their families.
    
2. Customer Insight
   Just as important as understanding the patient perspective is understanding the needs, attitudes, and motivations of healthcare professional (HCP) customers. By gaining insight into the HCP's perspective, Medical Affairs professionals can ensure that the brand’s strategies align with the expectations of the customers and that the company is providing the necessary support and resources for HCPs to make informed decisions.
    
3. Clinical Insight
   Having a deep understanding of the disease burden, treatment pathways, and care frameworks is essential for Medical Affairs professionals. This clinical insight allows them to identify gaps in current treatment options and develop strategies to address these gaps, ultimately improving patient care and outcomes.
    
4. Market Insight
   Market insight involves understanding the competitive landscape and the dynamics of the market in which a brand operates. By staying informed about competitor activities, emerging trends, and market changes, Medical Affairs professionals can adapt their strategies and contribute to a competitive edge in the industry.
    
5. Brand Insight
   Brand insight refers to the understanding of the brand itself, including its data and clinical experience. Medical Affairs professionals must have a deep understanding of their brand's strengths, weaknesses, and unique selling points to effectively communicate its value to HCPs and patients.
    
6. Value Insight
   Finally, value insight involves understanding the value issues and payer attitudes that impact a brand's success. Medical Affairs professionals must be aware of the various factors that influence payer decisions, such as cost-effectiveness, budget impact, and patient outcomes. By addressing these concerns proactively, they can ensure that their brand remains accessible and attractive to both patients and payers.