IN SUMMARY: Google now has access to detailed medical records on tens of millions of Americans and popular health websites are sharing people’s sensitive data — including medical symptoms, diagnoses, drug names and menstrual and fertility information — with dozens of companies around the world. This is very concerning but it’s unlikely to affect online health seekers.
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WHAT? Even without the debate on drug prices, some pharma companies are headed towards extinction. Bureaucratic processes, designed to protect jobs and establish territories, and a failure to change the work environment is going to take its toll. Bigger is not better.
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KEY IDEA: Millennials are on track to see their health decline and healthcare costs skyrocket over the next 10 years. Creating enduring change in physical activity is hard but employers need to get involved in employee wellness if they are to reduce costs to both the company and employees.
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WHAT”S ALL THIS THEN?: For every 100 reps that visit a physician’s office, only 20 speak in person with a physician. Non-personal promotion (NPP) can be a more effective method of engaging physicians than salespeople. NPP adds value to physicians but pharma HCP people need to do a good job understanding the changing needs of doctors today.
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SUMMARY: Medicine is part science, part detective and part experience but it’s a mistake to think that all health problems can be remedied by a visit to the doctor and by taking a prescription medication. AI can be a great tool for HCP’s but it’s not the answer to all of our health issues.
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WHAT”S GOING ON: DTC TV ads aren’t working. There are too many barriers to get people to ask for or switch to new treatments. Even with improved benefits, most patients are willing to stay with the status quo. As healthcare comes under intense pressure to reduce costs DTC budgets could get whacked.
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KEY ARGUMENT: The Lower Drug Costs Now Act, spearheaded by the House speaker, Nancy Pelosi, could save $345 billion in federal spending over seven years, the Congressional Budget Office has found. It could also reduce out-of-pocket costs by $158 billion over a decade, according to a nonpartisan federal report. The argument that the money this will cost the industry is moot as pharma has spent tax breaks they received on stock buybacks, not R&D.
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