The Economy and the Pharmaceutical Industry - Adherence to Drug Treatments and How the Current Economic Environment is Affecting Patients’ Treatment Choices

The Economy and the Pharmaceutical Industry - Adherence to Drug Treatments and How the Current Economic Environment is Affecting Patients’ Treatment Choices

Summary

The ongoing US recession is affecting consumers’ behavior in the healthcare market. The rising unemployment rate means that fewer individuals are covered under generous employer sponsored health insurance plans. Many people who lose their jobs also lose their ability to cover the costs of healthcare, including prescription drugs. Being un-or under-insured drives consumers to seek out ways to save money on medical costs, or in some cases to skip medical care entirely.

Some individuals qualify for state-subsidized programs such as Medicaid; however membership in these programs also impacts consumers’ healthcare decisions by encouraging the use of cheaper generic drugs rather than brand name options.

The goal of the Adherence to Drug Treatments in Today’s Economy report is to provide an executive-level overview of how economic factors affect patients’ compliance with prescribed medication.

Scope

- The Healthcare Market Overview
- Economy and Adherence
- Patients’ Points-of-View
- Patient strategies to reduce costs
- Patient support programs
- Outlook for the Pharmaceutical Industry

Reasons to buy

- Gain access to data & analysis from CBR’s proprietary Consumer Insight survey to support your product’s adherence initiatives
- Understand why adherence is such an important issue in the pharmaceutical industry and how the recent changes in the economy are impacting your product’s sales
- Learn about the various patient support programs that are designed to keep consumers adherent to their medication as well as where each misses the mark
- Understand the different factors that influence a patient’s decision to fill their prescription, skip treatment, or switch to a generic
- Gain insight from CBR’s assessments & conclusions to best prepare yourself for the strategic decisions that need to be made around your product (s) future

Executive Summary

The Healthcare Market Overview
Changes in healthcare coverage
Cost sharing
The effect of the economy

The Economy and Adherence
What is non-adherence
Adherence is a moving target
The pharmaceutical industry’s point of view

The Patients’ Points-of-View
Patient behavior
Mass marketing
Adherence and the cost of care – financial considerations

Patient are Choosing to…
Enroll in consumer driven health plans
Avoid, skip, or delay treatment due to costs
Switch to generic drugs
Switch to cheaper drugs suggested by pharmacists
Take some medications but forgo others

Patient are Choosing to…(cont.)
Not fill prescriptions they cannot afford
Switch to over-the-counter or herbal drugs
In summary

Patient Support Programs
Consumers want assistance
Physicians support patient assistance programs
Patient assistance programs
Price changes – branded vs generic drugs
Co-pay subsidies

Outlook for the Pharmaceutical Industry
The current pharmaceutical market
The ABC’s of adherence
Adherence as a strategic objective
Program basics
The middle class gap

Appendix