Since April Fool’s Day fell on a Sunday this year, we didn’t have the chance to prank our coworkers. But to keep up the jokester spirit, we wanted to take our blog in a different direction this week. By now you have most likely seen a Buzzfeed quiz or two about what your spirit animal is or what your favorite dessert says about the type of person you are. But here at Truveris, we wanted to ask a different question – what Disney princess is your copay program?
If your program is underwater…
If it’s deductible season, your program might be struggling and unable to deliver the high ROI your brand needs during this time. At the beginning of the year, it’s important to recognize that patients with high deductibles may abandon scripts. Your program needs to be optimized to ensure it is offering a higher benefit to patients during that time period, and then pulling back towards the end of the year when patients reach their deductibles. Just like Ariel’s father, you need to realize there is a time to pull back, let go, and let your program walk on her own two feet.
If your program doesn’t have enough money to go to the ball…
Not everyone has a fairy godmother. But if your program is offering a $0 offer, chances are, you might need one to offset the major cash flow problem you might see. Sure, everyone loves the $0 offer – it’s a salesperson’s dream come true. But can your brand really justify the cost? In some cases, it would take a significant increase in scripts just to break even with a target benefit of $0. That increase depends on significantly shifting physician and patient behavior, which is no easy feat. Patient affordability is important, but recognize that your brand has value, and work with program design experts to ensure the slipper fits just right.
If your program has been asleep for years…
Fire up the Nespresso and get your copay program a double shot, stat. If your program has been asleep for a while, chances are it’s not making the impact you’d like. Make sure you are analyzing your program and assessing the performance by looking at program cost, sales lift, and prescribing behavior. Just because a program has been in place for a long time doesn’t mean it’s working – it should change with the market. Focus on where your programs can deliver the most value and impact on patient behavior. See how we helped a pharma brand do just that (without a kiss from a prince).
If your program is stuck in an ivory tower, unable to interact with the real world…
Interaction is key. No communication with the outside world was a real bummer for Rapunzel – and no communication with patients could end up being a huge bummer for your brand. With an engagement program, brands can interact with patients and text them when it’s time to refill their prescription or to simplify the process for them to get new copay cards. Getting patients to opt-in to an engagement program can be tough, though, so make sure your program vendor analyzes where you are seeing drop offs and determine the best way to redesign the process to get as many people enrolled as possible. Go ahead and let your hair down – in some cases, it’s as easy as making enrollment mandatory.
If your program is so bad you need a Genie to fix it…
Maybe it’s not THAT terrible. But still, if you are seeing high reversal and abandonment rates, you might need some help. A true copay partner can take stock of your program, analyze your data, and optimize the program so you’re seeing optimal sales – that’s our real-world definition of a genie. For most brands, patient behavior and market dynamics allow them to identify drivers of prescribing behavior and patient abandonment. Building a program that effectively addresses these drivers with specific patient access tactics ensures that your brand will be on a magic carpet ride (yeah, we know – that one was bad).
So – which princess is your copay program? Drop us a line and let us know! And as always, please reach out if you’re interested in making sure your program is performing the best it possibly can.