While some brands still view their copay programs as a small part of their marketing mix, many are beginning to realize the goldmine of information and insights these programs can provide to drive greater ROI. Here are a few areas where you should be leveraging your copay card data
At the Pharmacy
Copay program data is ideal for identifying and engaging your most valuable pharmacy partners. From understanding which pharmacies are redeeming the most cards and who is processing scripts most efficiently, you can focus on offering additional support to ensure that your patients are covered.
In the Physician’s Office
Your copay program data can tell you a lot of things on the provider side-- from determining what really impacts the physicians prescribing your brand, whom are your best partners and how patient costs affects their prescribing patterns. You should also be able to find and maintain new to brand prescribers in the market.
With Your Patients
Data from your copay program can help you get your arms around the nuances of your patient population, shedding light on how various patients/segments behave in order to decide the right patients to target. Layer in a patient engagement program on top of your copay card and you can get even deeper insights.
With Your Payers
Are you sure you understand your true coverage? Copay program data analysis can show brand teams how NDC blocks or PAS are being applied at the register and how many patients are really affected. Have you been thinking your coverage is great because you have mostly ‘Tier 2’ status with your payers? Your copay card data can help you see what that really looks like in practice—are most of your patients covered or all they all still stuck in deductibles?
On Your Bottom Line
Wouldn’t it be great if you could track your economics all the way down to the script level? How about clearly seeing which regions, markets, physicians and patients are delivering the most to your bottom line…and then adapt your broader strategy to increase your profitability? You guessed it…copay program data can help you do just that. It can also help with forecasting—helping you to predict how your sales are going to change in the future, which areas might be ‘trouble spots’ in the coming months and what locations are more vulnerable to market changes and how can you combat them quickly.
On the Front Lines
One other area where this data can be incredibly powerful is on the front line with your sales reps. Empower them with the information they need to increase sales by showing them which of their physicians are prescribing the most/least, and how their patterns are changing. You can also use copay card data to ensure reps are fairly compensated by combining this data source with traditional sales data sources.
At Truveris, we optimize copay programs to make sure they account for every player in the pharmaceutical ecosystem. Learn more about how our team of experts can help you build a copay program that improves engagement, reduced abandonment, and increases adherence.