Healthcare Marketing Daily

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We’ve applied the expertise gained from producing briefings for over 30 leading medical associations, and from executing advertising campaigns for hundreds of leading healthcare companies, to bring you stories about healthcare marketers who are delivering results for their brands and clients. You’ll also find influential and exciting stories about innovations from the broader world of marketing and advertising.

July 29, 2021

Today's Top News

FDA Approves First Interchangeable Biosimilar In US

The AP (7/28, Johnson) reports the FDA on Wednesday approved Viatris’ Semglee, used to treat diabetes, as the first interchangeable biosimilar product. Semglee is a biosimilar to and interchangeable with Sanofi’s Lantus, a fast-acting insulin. The FDA’s decision “will allow pharmacists to automatically substitute the cheaper version, just as they do with generic pills for other kinds of drugs.” Furthermore, “It could save diabetics and health plans millions of dollars annually and encourage other drugmakers to create more biosimilar medicines.”

        Regulatory Focus (7/28, Oakes) reports acting FDA commissioner Janet Woodcock said, “This is a momentous day for people who rely daily on insulin for treatment of diabetes, as biosimilar and interchangeable biosimilar products have the potential to greatly reduce health care costs. ... Today’s approval of the first interchangeable biosimilar product furthers FDA’s longstanding commitment to support a competitive marketplace for biological products and ultimately empowers patients by helping to increase access to safe, effective and high-quality medications at potentially lower cost.”

Media, Marketing & Comms

Pharma Wants To Avoid Relying On Last-Click Attribution After Cookie Phase Out

FiercePharma (7/28, Snyder Bulik) reports Ray Rosti, chief digital officer at Publicis Health Media, said the cookie phaseout “will likely have a bigger effect on ad measurement than ad serving” for pharma, and it remains unclear “how measurement will be handled, in part because without third-party cookies, pharma companies and their agencies are reliant on publishers to report back information on the ads served.” He said pharma wants to avoid “a default to a ‘last-click attribution’ model,” which “would wreak havoc on the way we think about our channel mix, because the last click will get credit, and we’re not going to really understand all the ways in which we influenced the patient.” Potential solutions “include building first-party relationships with patients, diving more deeply into contextual advertising and working on new ways to serve and measure ads inside publishing and media networks.”

Opinion: Transparency Becomes Essential For Pharma Marketers

Forbes (7/28, Jain) Councils Member Harshit Jain, founder and CEO of Doceree, “the first global network of physician-only platforms for programmatic marketing,” writes that “as healthcare and pharmaceutical brands have embraced digital marketing initiatives during the pandemic, transparency has been essential for marketers in the industry.” Jain says that “the adoption of digital communications forced technology companies to be upfront about the marketing solutions their partners use.” Jain argues, “When transparency exists regarding the physician reach and engagement rates, programmatic efforts can usher in more advanced technologies that better equip brands to implement successful marketing practices.” In terms of why transparency is essential, Jain discusses visibility on real-time campaign metrics, comprehension of data gained via AI technologies, the need to deliver genuine results, how marketing messages elevate medical education, and the need to build trust to shape the future digital landscape.

More Energy, More Spend In Digital Marketing Coming Out Of Pandemic

Ad Age (7/28, Joseph) highlights lessons shared by ad industry leaders for post-pandemic practices as agencies face “greater demand, bigger client budgets and an increased need for staff to support it all.” John Peto, U.S. head of Deloitte Digital, says, “We are helping our clients across industries change their business models, reimagine their customer and workforce experiences and tackle the broader question of what they want to stand for in society.” Andie Tilden-Jewett, VP of marketing at AMP Agency, said, “We’ve seen an influx in demand from all types of brands due to replenished budgets, and industries that are rethinking marketing coming out of the pandemic.” She pointed “to healthcare brands as an example, with a need to digitize as they readjust after the pandemic.” Meanwhile, Kris Tait, US managing director at Croud, says there is “a growing sense of confidence among businesses coming out of the pandemic, which has led to more energy and spend in digital marketing.”

Shutterstock Launches AI Subsidiary Developing Marketing Predictive Capabilities

AI Business (7/28, Wodecki) reports that Shutterstock has “launched Shutterstock.AI – a new subsidiary that will focus on developing predictive capabilities for marketing content.” Shutterstock “enjoys a partnership with IBM’s Watson Content Hub, a content management system for marketers to create content using the Watson AI search tool.”

Social Media Updates

YouTube’s Revenue “Smashed” Expectations

Insider (7/28, Coulter) reports YouTube’s revenue “almost doubled to $7 billion in the second quarter of 2021, fueled in large part by a rebound in online advertising.” YouTube “smashed analyst expectations – which suggested revenues would be closer to $6.3 billion – and contributed to Google’s overall ad revenue surging 69% on the previous year, to $50 billion.”

Pharma & Healthcare

Telehealth Growth Substantial And Sustained, McKinsey Report Says

Medical Marketing & Media (7/27, Bushak) provides coverage of a new report by McKinsey & Company finding that “telehealth usage for doctor’s office visits and outpatient care was 78 times higher in April 2020 than it was in February 2020.” Although “the use of telehealth declined a bit in June 2020, it has plateaued at a rate that’s 38 times higher now than it was pre-pandemic.” Oleg Bestsennyy, McKinsey partner and an author of the report, said, “Both providers and consumers are much more excited about telehealth going forward than before the pandemic. When you take a step back, it’s to say that in these 18 months we’ve witnessed a significant acceleration of telehealth and I’m personally super-excited to see what’s yet to come.” Bestsennyy attributes this sustained growth “to three main factors: A rise in the number of consumers willing to use telehealth; increased acceptance by healthcare providers; and regulatory changes that have improved access.”

Online Misinformation About Cancer Is Common, Researchers Say

HealthDay (7/28, Mann) reports that a new study “finds that one-third of the most popular articles on social media about treatment for common cancers contains misinformation – and most of it can be downright dangerous.” The findings “were recently published in the Journal of the National Cancer Institute.” Dr. S. Vincent Rajkumar, a professor of medicine at the Mayo Clinic, said, “For medical advice, however, it’s always better to rely on your physician, an academic center, or a government organization like the National Institutes of Health.”

Opinion: Machine Learning Can Unlock Emotional Intelligence In Healthcare

In an article for MedCity News (7/28), Christina Speck, Head of Advocacy & Engagement at Optum and the Founder of Innovation Hacks, discusses the need to harness machine learning to enhance emotional intelligence in healthcare. She explains, “Emotional AI now refers to the many ways in which machines can interpret our thoughts and emotions and assign values to a smile, a frown or a perplexed eyebrow.” This technology “has broad applications across mental health, remote monitoring and telehealth.” As an example, in mental health, Speck says “emotional AI can help to decode and predict varying degrees of patient depression.”

Policy & Reform

Opinion: Healthcare Reforms Should Focus On Improving Drug Pricing Models

Forbes (7/28, Srinivas) Councils Member Kumar Srinivas, CTO for the health plan group at NTT DATA, discusses the need to reform drug pricing practices in healthcare. Srinivas explains that “drug prices today are often the result of massive, complex agreements between insurers, hospitals, pharmaceutical manufacturers, and pharmacy benefits managers.” Srinivas criticizes that “all these critical stakeholders are operating in a legacy framework with little acknowledgment that the possibilities exist to disrupt how drug prices are set.” Considering this complexity and opacity, Srinivas says “it’s time to consider some disruptive, market-based solutions to bring some transparency and standardization to setting drug prices.” Srinivas outlines several “ways to bring a more consumer-oriented approach to drug pricing,” namely “improved quality and pricing models that reflect drug efficacy” along with quality scoring.

Non-Profit Recommends Consumer-Focused Pharmaceutical Supply Chain Reforms

Drug Store News (7/28) reports, “The US pharmaceutical supply chain must be remodeled to address long-standing conflicts and achieve a delivery model marked by transparency, affordability and access, a multistakeholder working committee created by Business Group on Health recently recommended to industry leaders and government regulators.” This committee, made up from “employers, health plans, pharmacy benefit managers, pharmaceutical manufacturers, health systems, consultants, retailers, wholesalers and other stakeholders, worked to develop consensus-driven, disruptive solutions for a more patient-centered and financially sustainable pharmaceutical ecosystem.” The group’s recommendation “is officially known as the Pharmaceutical Supply Chain Leadership Forum,” which has agreed upon the following key tenets: convenient access to affordable drugs and information on alternatives, financial incentives across the supply chain prioritizing the lowest-cost options when clinical outcomes are similar, elimination of conflicts of interest, drug price benchmarks set by transparent and independent third parties, cost-effectiveness analyses validated by real-world data, and legislation to increase competition within the pharmaceutical market.

Healthcare Marketing Daily is a digest of the most important news related to pharmaceutical marketing in the digital space selected from thousands of sources by the analysts of BulletinHealthcare. This service is being provided to quickly disseminate news items of interest to key influencers in the pharma marketing community.

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