More than 30% of prescriptions are never filled, and more than 50% of people with long-term conditions stop taking their medications within the first year. Increasing adherence rates to prescribed medication not only improves patient outcomes but leads to a significant and untapped revenue and profit source for pharma. HealthPrize, a company that developed a cloud-based patient experience platform to improve medication adherence, needed to reach the niche group of pharma C-suite stakeholders and enlighten them about this financial opportunity.
The pharma industry faces many challenges, including the perceived “need” to increase prices to continually grow and appease investors. However, this tactic only addresses one aspect of the pharmaceutical triple aim, which focuses on improving patient outcomes, reducing total cost of care and generating new revenue. Padilla’s B2B Technology/Health team and HealthPrize understood these challenges and opportunities, and knew their strategy needed to address them head-on.
Padilla developed a media relations campaign targeting influencers, analysts and top-tier reporters across national pharma and business news channels. Padilla and HealthPrize worked together to leverage third-party studies and reports that made a compelling case for how pharma companies can increase EPS via improved medication adherence — a credible segue to HealthPrize success metrics.
Padilla unearthed opportunities to insert the HealthPrize founder’s point-of-view and expertise into conversations about pharma’s drug pricing strategy and its long-term implications on revenue and EPS, securing multiple trade and business media interviews. The team also developed bylines and opinion commentary for pharma trade and national business-media outlets to showcase how medication adherence can help pharma companies achieve the triple aim.
By highlighting the founder’s expertise on timely topics, Padilla helped to establish and cement him as a thought leader among high-level pharma stakeholders. Earning 28 placements over one year in business and trade channels bolstered the company’s leadership position. HealthPrize continues to grow its customer database and expand its industry credibility.