Snap Chart
Bain & Company research in multiple therapeutic areas has shown that when physicians prescribe a drug, the efficacy, safety and side-effect profile of the drug account for only 50% to 60% of the physician’s choice—and that figure has declined over time. The other 40% to 50% is based on a range of physician and patient experience factors that leading companies target to differentiate their products. Looking at the past three years, only 8% of healthcare executives agreed that the best product no longer wins; instead, innovating in the services, information and customer experience around the product is critical. That number jumps almost fourfold, to 28%, when executives look ahead to the next three years. The product matters, but other innovations are increasingly important.
Dave Fleisch and Kalyan Jonnalagadda are partners with Bain & Company’s Healthcare practice; both are based in Bain’s New York office.
How Agile Is Powering Healthcare Innovation
Life sciences and healthcare companies need new solutions to meet rapidly changing customer needs.
First published in Οκτώβριος 2019