Cogent HC Presentation at the 2024 PMSA Conference
Cogent presented its findings about the importance of leveraging Peer Networks for successful pharmaceutical product launches at the PMSA Conference, 2024. Click here to see the conference presentation “Riding the Adoption Wave to long-term Brand Success”
Influencers in Medicine – „Hubs“
Part 2 of our discussion of the “Network Multiplier Effect” focuses on the role that “Hubs” – health care practitioners who are highly connected to other HCPs – play in accelerating new product adoption into medical practice.
Hubs – not to be equated with Key Opinion Leaders (KOLs) – and their networks represent a natural extension of traditional KOL Management, Hubs are critical priority targets for promotional and educational initiatives as they drive changes in medical practice at the local level through both their own rapid adoption behaviors as well as the influence they have on their peers.
Read more about how to find and utilize Hubs and their networks to fast-track your product launch here.
Identifying and Leveraging Existing HCP-Networks
“The Network Multiplier Effect”
50% of Pharmaceutical Launches do not meet their first year sales expectations. It is also widely accepted that the long term trajectory of a newly launched pharmaceutical product is pretty much determined in the first 6 months.
We studied how healthcare professionals’ peer networks impact the uptake of a newly launched product. The findings are astonishing: Using claims data that most pharma companies already own, we can identify those Communities of Practice (CoP) and local influencers (“Hubs”) that are going to be the leaders in adoption of the new product. They may have double the product adoption vs the national average by month 6 … and they never relinquish that lead, even after 6 years in our case study. When combining faster adoption x deeper penetration (i.e., more adopters) x higher utilization (i.e., more patients per adopter), we see a multiplier effect that can reasonably result in 4 times the market share in those CoPs compared to the rest of the market … sooner!
Read more about our study of the “Network Multiplier Effect” and some of the implications for how pharma companies could adapt their go-to-market strategies to drive long term success in the first months of a product launch.