Report: Treatment prices and convenience are key concerns for pharma consumers

An estimated $213 billion is lost each year in the USA due to wasteful or unnecessary treatment linked to lack of adherence and medication mismanagement, according to a report from PricewaterhouseCoopers about customer experience in the pharmaceutical sector.

The PwC report looked at survey results from more than 700 US consumers about their preferences in drug treatment selection and use. Faced with rising out-of-pocket costs and complex treatment plans, while empowered by new social media tools and more information, pharma customers are changing the ways they purchase drugs and their role in drug use. The report suggests that shift creates valuable opportunities for the life sciences sector to benefit from deeper insights regarding the individuals using their products.

The report states: “For the pharmaceutical sector, the economic implications of consumer behavior are more complex. Prescription drugs remain a highly regulated business with physicians prescribing the product. At the same time, insurance companies and employers bear much of the cost. While consumers have limited veto power over the choice and price of prescriptions, they nevertheless have strong views on the industry, its products, and expectations for a positive customer experience.”