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HUB services are a relatively new phenomenon in the world of medicine. At first, they pursued a call centre approach where they acted as arms of pharmaceutical companies. Slowly, they evolved into distinct units that provided a vast array of services for both pharmaceutical companies and patients. Some of them operate as affiliates of pharmacies while others function as independent entities. It is worth noting that affiliated HUB service providers face restrictions limiting their interaction with other pharmacies. These limitations lead to the fulfillment of privacy concerns and legal obligations. Pharmaceutical companies and patients benefit from HUB services. That would explain the rising popularity of these services between these two groups. Here are 3 benefits to hiring HUB services for pharmaceutical companies.
1. Using Readily Available Information
The collection of data is essential in the medical industry because it helps healthcare providers with enough information to treat their patients. This data helps pharmaceutical companies as well. For example, they understand the effectiveness of their drugs for the treatment of certain illnesses. Consequently, pharmaceuticals collect data from patients constantly. They also collect it for sales and marketing purposes, i.e., to determine how to package their products. They do that through CRM and SaaS Technology. HUB service providers collect the same data using similar technologies. Pharmaceuticals would be reinventing the wheel unnecessarily if they collected this data instead of obtaining it from a HUB service provider. Doing so would help them focus on manufacturing drugs completely instead of dedicating part of their labour force to this collection effort.
2. Establishing Trust With Patients
Healthcare is a personal issue for most patients. They feel that they can only deal with health based institutions that they trust. Unfortunately, only 38% of Americans trust pharmaceutical companies according to an Edelman survey published by Medical Marketing & Media. Reversing this situation is possible. More specifically, pharmaceuticals can build positive relationships with patients who use their drugs through the enhanced use of HUB services. These services can also help them establish trust with the patients that they serve. For example, a recent study revealed that 76% of patients expected support from drug companies. Sadly, providing this support is difficult for many pharmaceuticals because they have inadequate information on what patients need from them. HUB services can help them get this information.
3. Understanding The Patient's Journey Matters
Patient journey refers to the sequence of events that a person goes through as they move through the medical system. It is an examination of the individual's experience as he becomes aware of an illness to his recovery from it. Pharmaceutical companies have difficulties understanding this journey because they have inadequate data on it. Consequently, engaging with their customers meaningfully is difficult for them because they do not have enough information to facilitate that engagement. HUB services for Pharmaceutical Companies can help them in this area. More specifically, these service providers interact with patients and payers regularly collecting data from them. They also invest in tools to improver end-to-end visibility in the patientâ€™s journey. Pharmaceuticals can benefit from this kind of insight.