“Can’t see the forest for the trees” is a commonly used expression to describe someone who is too involved with the details of a problem to see the bigger picture.
We’d like to think about this analogy when it comes to designing your copay program. Selecting the right strategic partner can be a challenge and a Request for Proposal (RFP) is an important part of the selection process. As you review your options, ask yourself, are you focused on the complete copay program, not just a small piece of the pie?
Let’s look at an example:
Assume you spend $102 million on a copay program – $100 million to patient benefit and $2 million to program administration. If you reduce the admin cost by 20%, you achieve savings of $400k. Alternatively, if you leverage your copay partner’s expertise to reduce your entire patient benefit cost by 2%, you achieve savings of $2 million – 4 times the budget saved by just focusing on program administration.
Therefore, while managing and understanding detailed program costs are important and a key part of any RFP process, make sure you don’t miss the forest for the trees. Ask the most important question you may not be asking now: “Is this the right partner to help me get the most out of the big piece of the pie?” Your strategic partner should take a holistic approach to program cost as they design an efficient and effective program; you should take this same holistic approach when selecting a strategic partner to lead your copay program efforts.
Questions? Contact us.
Fendi Liu is a member of Truveris’ Life Sciences team. In her role as Operations Manager, Fendi ensures smooth execution of all operations and production of patient access programs for pharmaceutical companies. Fendi has a B.B.A. from The George Washington University – School of Business.