Pharmaceutical vice presidents, executive directors, brand leads, marketing leads, and commercial leads:
As healthcare spending continues to take up a sizable portion of gross domestic product (GDP) spending and dollars become more constricted, payers, regulators, policymakers, and decision-makers within the healthcare ecosystem will continue to be more restrictive in how they approach healthcare products.
Value-based payment and care models, quality metrics, bundled payments, and comparative effectiveness measures will continue to overtake the traditional fee-for-service system. Healthcare professionals increasingly must justify to both internal and external stakeholders their treatment decisions relative to the spend. Payers are held accountable for healthcare outcomes, quality, and spending relative to results.
Just holding to the dimension of cost or outcomes is not enough, and the traditional financial incentives have already shifted considerably.
The Triple Aim started as a framework that ALL healthcare stakeholders can use to meet the needs of individual patients, populations, and organizations through three overarching goals. This has evolved into the Quintuple Aim.*
Why Should Life Sciences Companies Care?
There is a heavy push for healthcare providers and payers to adhere to the Quintuple Aim, with significant pressure coming down from the federal government and private sector through funding, policies, and reimbursement. Healthcare stakeholders who align their efforts with achieving the Quintuple Aim will be successful, and those who do not will increasingly find themselves fighting over a smaller piece of the pie and running uphill in a mudslide.
Because the Quintuple Aim is important to providers, payers, and regulators, it should be important to life sciences companies.
Not meeting the goals of the Quintuple Aim means that decision-makers will not see the value in a particular product, even if it meets the clinical trial endpoints and is FDA approved.
Simply put, this will not be enough to get a product utilized or adequately reimbursed compared with those products (and companies) that are seen as meeting the Quintuple Aim. This is further evidenced through the Inflation Reduction Act, STAR Ratings, and HEDIS measures, as well as the growing influence of organizations like the Institute for Clinical and Economic Review (ICER).
Life sciences companies need to collaborate with all stakeholders and ensure alignment with these goals in the Quintuple Aim to compete in this changing landscape.
How Can Aventria Help Life Sciences Companies Achieve the Quintuple Aim?
Aventria is a hybrid consultancy, marketing agency, and technology solutions company for life sciences companies and their stakeholders. We are committed to helping our clients achieve year-over-year brand growth while achieving the goals of the Triple/Quintuple Aim. In fact, our name is derived from “the Avenue Toward Achieving the Triple Aim.”
Our customized support delivers the following results:
Improves patient care and brand performance
Is customizable at scale (local, regional, national)
Achieves disease and brand results through collaborations with customers (payers, providers, and patients)
Enhances the way chronic disease patient populations are treated
Engages providers and patients with evidence-based knowledge
Provides digital intervention tools in the clinical workflow that support clinical guidelines
Makes a meaningful, measurable impact on patient outcomes
Reduces healthcare costs
Our proven platforms and processes empower you to do well by doing good. We are committed to creating effective tactics AND achieving results. It’s our brand promise.
To learn how we can all work together on the Quintuple Aim and improve patient care, please reach out to:
Dave Dierk, Co-President, 30-year sales and marketing thought leader in pharmaceutical diagnostics, biomedical, long-term care, managed care, employer, and pharmacy communications, at dave.dierk@aventriahealth.com.
Paul G. Pochtar, RPh, SVP of Pharmaceutical Commercialization and Access Strategies, extensive experience in leading successful market access commercialization of both primary care and specialty pharmaceuticals throughout their life cycle, including several landmark oncology products, at ppochtar@pinnaclehc.com.
Making a difference in patient care by helping patients, providers, and payers collaborate on shared priorities
*Source: Institute for Healthcare Improvement. Triple Aim and population health. Accessed February 14, 2024. https://www.ihi.org/improvement-areas/triple-aim-population-health