Product Launch: What You Deserve From Your Specialty Pharmacy Network
Launching a new medication means years of research, development, and clinical trials have already taken place before being introduced to a specialty pharmacy network. One of the most important steps a manufacturer takes is choosing a specialty pharmacy that will give their product launch success. The long-term success of new medications introduced through this process is impacted directly by the performance of the chosen pharmacy. Manufacturers and distributors hope for the same launch outcome- success at getting the medication to the patients that need it most. Being able to do that without major setbacks like insurance denials and unmanageable copays creates a more successful launch. Choosing a specialty pharmacy network to help accomplish that is a big undertaking. Here are a few key differentiators to help make the selection process as effective as possible
Fast Execution of a Contract
Ask your potential specialty pharmacy to be up front about the expectation of time needed to get a program operating. 90 days is the standard window of time, but could your potential specialty pharmacy do it sooner, if needed?
History of Patient Experience With Your Targeted Disease State
Investigate whether or not the specialty pharmacy has direct experience supporting patients that benefit from your medication. What proven solutions do they have supporting patients and caregivers beyond initial diagnosis? There should be a balance between quality experience and quantity of patients.
Overcoming Billing Obstacles
One of the biggest hurdles any new drug will face is getting approval by insurance. Trusting that your potential specialty pharmacy can navigate the challenges approval presents will set your launch up for success. Approval delays can prevent patients from starting therapy and high out-of-pocket costs can deter patients. When cost becomes an obstacle, a skilled specialty pharmacy is well-versed at finding patients financial assistance.
Communication and Collaboration
You should trust that your specialty pharmacy is able to collaborate and handle challenges quickly and efficiently. With the use of technology and knowledgeable staff members, your chosen network will prove successful when clear communication with your points of contact is established early and maintained throughout your launch.
After years of hard work bringing a new medication to market, your specialty pharmacy network should work to achieve the best outcomes for you and your patients. Being clear with your expectations and needs will build the best foundation to execute a successful launch.