Specialty Pharmacy: Talk the Marketing Talk Success Factors of Specialty Sales Kristen Akervik Sales Director, Sterling Specialty Pharmacy 1
Disclosure Kristin Akervik, Sales Director, Sterling Specialty Pharmacy Services declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. Learning Objectives Outline techniques for assessing your prescriber market for specialty prescriptions. Discuss key drivers of value for specialty payers. Create a value based marketing pitch to providers and payers. 2
Goal The goal of today s program is to gain an understanding of the specialty sales process including sales foundation and execution. At the conclusion of this presentation, participants will be able to: 1. Identify the steps included in an effective specialty sales process. 2. Discuss techniques for assessing prescriber market for specialty prescriptions. 3. Give examples of key drivers of value for specialty providers. 4. Create a value based marketing pitch for providers. 3
What is Specialty Pharmacy? High cost, high touch medications to treat chronic and/or rare diseases More complex care plans to maintain, administer, and monitor than traditional drugs Designed to manage distribution, dispensing, clinical management, reimbursement, patient care and education Key Drivers of Value: Providers Key drivers of value for providers: Save time & simplify Reduce administrative burden Prior authorization assistance Co pay cards/foundation research Warm transfers Increase adherence/compliance Improved outcomes 4
Key Drivers of Value: Payors Ability of Specialty Pharmacy to: Reduce inappropriate utilization Ensure appropriate dose of medication Reduce drug acquisition cost Coordinate reimbursement and eligibility Improve compliance Reporting metrics & capabilities Effective CUSTOMER MANAGEMENT Effective SALES STRATEGY Proven SALES PROCESS Strong SALES LEADERSHIP Successful Sales Foundation Strong SALES TALENT 5
The Right Fit Identifying Strong Sales Talent Knows how to prospect & find accounts Get past gatekeepers Creates value with customer Manages time and territory Promotes your pharmacies strengths Follow through Sales Talent Characteristics of Top Performing Sales Representatives: Sense of urgency regarding client needs Understand long term implications of every short term decision. Entrepreneurial attitude. RESULTS ORIENTED! 6
Sales Talent What to Watch Out For Spending too much time on non sales activity Lots of activity with little results No sense of results or ROI with accounts The UPS syndrome Strong Sales Leadership Ask the right questions. Carefully listen to the answers. Working partnership between you and your sales person. 7
Goal Setting Key Differentiators Therapeutic Categories of Specialization Special clinical programs Unique ways of providing service What is YOUR key differentiator? 8
Differentiator to Strategy Therapeutic Categories of Specialization Sales strategy calling on specific providers that align with your focus? Special clinical programs Marketing initiative around a certain clinical program you ve developed? Unique ways of providing service Creating a service standard that translates into a marketing strategy? 6 Step Sales Process 1. Prospect 2. Qualify Account 3. Needs Discovery 4. Satisfy Needs 5. Objections 6. Close 9
Prospecting Finding new customers Territory planning geography and service area Target specialists based on the disease states you service Potential lead generators CRMs, internet, provider databases Pharma reps develop relationships that will open doors and be mutually beneficial. Qualify Accounts Volume new patients/month/qtr? Top 3 5 payors Ability to access decision maker Relationship with another specialty pharmacy? Office protocols and ROI Who handles PA process? 10
Needs Discovery Ask open ended questions based on your pharmacy strengths How do they handle prior authorizations? Do they deal with many different payors? Would they like assistance with co pay cards and foundation research? Would they like to warm transfers? Clinical programs Satisfy Need 11
Satisfy Unique Needs of the Customer Simplify the process One point of contact Seamless process for patient and provider Improved outcomes Patient education and follow up Objections We let the patient decide. Insurance mandates where the prescription goes. Arrangement with competitor Used to a certain company habit 12
Managing Customers/Territory 1. Create a customer database 2. Pre/post call planning, routing and frequency. 3. Management/reporting tool. 13
Success Factors in Place? Do you have the infrastructure in place to satisfy provider and payor needs? What are your differentiators? How will you articulate that message? Who will you target? Will you follow a sales process? Questions? 14
Kristen Akervik Sales Director Sterling Specialty Pharmacy Kristen.Akervik@sterlingspecialtyrx.com 507 206 1356 Specialty Pharmacy: Talk the Marketing Talk Sheila Arquette Executive Director, National Association of Specialty Pharmacy 15
Disclosure Sheila Arquette, Executive Director, National Association of Specialty Pharmacy declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. Unique Patient/Prescriber/ Payer Needs Drive Specialty Pharmacy Benefit Investigation/ Verification Navigating the Prior Authorization Process Payer requirements Utilization management edits, preferred products, formulary compliance Facilitation/coordination of patient and prescriber requirements Coverage denials/appeals processing Facilitation of Copay Assistance Manufacturer sponsored assistance programs Foundational financial support 16
Extension of the Physician office Securing ongoing referrals Provider satisfaction Coordination of Care 5Ps: Patient, Prescriber, Payer, drug Pipeline, Pharmaceutical manufacturer Patient Satisfaction Standardized Survey Tool? Data Capture/Outcomes Reporting Manufacturer Payer FDA/REMS Accreditation Innovation Patient Compliance & persistency Frequency and mode of communication Cost containment: Bending the Curve Split fill programs Medical drug management Payer partnerships Patient Satisfaction Provider Satisfaction MPR Data collection/outcomes measurements 17