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Sep 2016 - Business Strategy - Doc # US41718116

Business Strategy: Entering the Era of Patient Engagement — Key Aspirations and Expectations for the Life Science, Healthcare, and Health Insurance Industries

Authors: Alan S. Louie, Ph.D., Michael Townsend, Cynthia Burghard, Jeff Rivkin

Abstract

This IDC Health Insights report highlights our analyst insights on the key aspirations and expectations regarding patient engagement across the health industry. Recognizing that patient engagement has different implications for life science R&D, life science commercial efforts, healthcare providers, and health insurers, we have broken out our analysis from both the patient's and industry's viewpoints.

"With the traditional drug blockbuster era quickly fading into the past, life science companies have realized that direct patient engagement will be key to supporting long-term sustainability, ranging from better awareness and participation in clinical trials, improved patient-company relationships (including improving overall industry sentiment), and potentially expanding business models that may focus on outcomes versus historical pill sales. Integrating patients as key stakeholders in the life science industry is the last mile in the journey toward disease cures and industry sustainability," says Alan S. Louie, research director, Life Science R&D Strategy and Technology Research, IDC Health Insights.

"Life science companies recognize the value in engaging patients and their doctors directly in drug and medical device therapies. Nonadherence to medication subscriptions is a huge problem that negatively affects product sales for manufacturers and health outcomes for patients. Patient adherence to taking and maintaining prescribed dosages can be improved through the use of applications that use reminders, gamification, and other strategies. Through direct patient engagement, life science companies can learn the reasons behind nonadherence, predict which patients are unlikely to adhere to recommended treatments, and design appropriate strategies to improve adherence," says Michael Townsend, research manager, Life Science Business System Strategies, IDC Health Insights.

Cynthia Burghard, research director, Accountable Care Organizations, IDC Health Insights, says, "Patient engagement has historically been a blunt instrument that has yielded mixed results in terms of building loyalty and improving outcomes. The next generation of patient engagement tools must be highly personalized and present patients with actionable advice to provide value and improve outcomes."

According to Jeff Rivkin, research director, Payer IT Strategies at IDC Health Insights, "Payers have disconnected from customers over time, separating the person from the transactional unit processed by the company. Payers separated the patient from his/her medical service via a claim, the subscriber from his/her care requirements via a generic one-size-fits-most plan from an employer, the patient from his/her diverse provider desires via a specified network, and the customer services desired via a call center script or website. Bill payment focus, mass marketing, internal departmental applications, and claims emphasis are now replaced with data sharing, consumer personalization, enterprise focus, and a partner-in-care mission."

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