MSLs Driving the Strategy Towards P&T Committees
In pharma, there is a consistent trend we keep hearing that MSLs are experiencing a role shift in terms of their responsibilities and which key stakeholders they engage with. With organized planning and the right data capabilities, MSLs are better positioned for driving the strategy towards P&T committees when medications are ready to be evaluated for formulary inclusion.
These committees require an evidence-based approach to evaluating pharma companies’ products. Therefore, MSLs need to be strategically aligned with their organization’s approach and even partner with KOLs on the committee. In partnering and collaborating with pharma organizations, KOLs who sit on P&T committees are in a better position to vouch for the product being discussed and serve as a credible source for the drug’s safety and efficacy.
Medical Affairs as a Strategic Function
As the overall healthcare landscape continues to evolve and become more complicated, it is apparent that medical affairs is emerging as a strategic leader in data-focused engagements with key stakeholders. Whether MSLs are engaging with healthcare providers, pharmacists, or members of P&T committees, they are constantly leveraging their scientific expertise to disseminate relevant information and Real World Evidence (RWE) related to their organizations’ products. This is what makes medical affairs and MSLs a strategic function within pharmaceutical organizations.
More specifically, their expertise in product attributes and the competitive landscape, puts them in a position to be leaders in the organization’s strategic blueprint. As more companies are realizing the value of this function, they should be investing in capabilities that enable them to be more productive and efficient. MSLs constantly need to be prepared with evidence-based information to share with key stakeholders, especially when it comes to engaging with P&T committees. This is where partnering with the right KOLs is a necessity.
The Non-Physician KOL
Strategically profiling and targeting KOLs becomes critical when a product is nearing commercialization. Engaging with the right KOLs as early as possible, will only make a product launch more likely of being successful and well-received by the medical community and prescribers who fall within your organization’s disease area.
Meaningful engagements with KOLs are increasing across a broader set of stakeholders. The increase of the non-physician KOL in medical settings tends to include payers, regulators, and those members that advise on P&T committees. Partnering and engaging with these types of KOLs becomes critical during the commercialization process, where their fundamental needs need to be closely understood and aligned with and tailored to. Especially for those KOLs that sit on P&T committees, having an in-depth understanding and using an evidence-based approach when trying to get a drug evaluated to be on the formulary is critical.
Using an Evidence-based Approach
When evaluating medications for inclusion in the formulary, the P&T committee uses a structured and evidence-based approach. Knowing that this is a systematic review and approach, MSLs should be prepared with RWE, clinical studies, and biomedical literature to make their case for the drug to be included on the formulary.
Having the right capabilities in place will make for more prepared MSLs when these conversations do happen as the evaluation occurs. TikaMobile’s intuitive platform for medical affairs teams and MSLs, TikaMSL, empowers MSLs to be more strategic in their interactions with vital information at their fingertips. The platform pulls in massive amounts of data to help profile KOLs and also has a clinical asset manager for easily accessing and sharing the evidence needed to discuss with the P&T committee regarding the effectiveness and safety of your organization’s drugs.