The COVID-19 crisis has significantly impacted physicians’ practices; but how and to what extent? Physicians have been managing significant workloads, while learning on the fly how to navigate and setup virtual meetings. Maintaining high levels of patient care while minimizing in-person interactions has also been challenging.
Over the years, MD Analytics has supported the launch of a large number of new products for its healthcare and pharmaceutical clients, across a broad spectrum of indications ranging from lifestyle drugs to oncology treatments. We have regularly observed physicians’ significant enthusiasm for new products based on unbranded descriptions, as well as the large anticipated shares of prescriptions they provide for them.
While it has been difficult for our clients to gauge the extent to which physicians overstate their likely prescribing of a new product, we have been able to leverage our large database of such products to more accurately assess the extent of this overstatement and improve the accuracy in forecasting for new pharma products. This additional level of precision can make the difference when gauging the resources needed to put behind a new product launch and to more precisely plan the levels of production required for the new treatment.
If you are curious to see if our Share Gap Algorithm would be a good fit for the launch of your new product, learn more here.
Past Quick Polls
Strong online advertising and messaging are key to maximizing impact of any marketing campaign. With recent restrictions on in-person interactions, online advertising and messaging play an even greater role in reaching physicians. Our findings from a survey of n=227 Canadian physicians show that 82% of Canadian physicians have increased their use of online platforms as a result of COVID-19, 48% significantly so.
In October 2018, the use of recreational cannabis was legalized across Canada. Looking back at the past year, physicians remain divided in their views towards this new legislation, though support skews towards younger GPs. This legislation has impacted the use of prescription treatments and patient visits in a number of key therapeutic areas, though not to the degree that was anticipated 12 months ago.
Real World Evidence (RWE) is a growing area of research that, pivoting from the rigorously controlled standards of randomized controlled trials (RCT), is based on a model driven by real world patient data. Real World Evidence stems primarily from an observational analysis of a sample in a less controlled environment. Focused on the efficacy and outcomes of therapies in a real world setting, RWE provides a unique lens not attainable from traditional clinical trial research.