Evaluating Patient-Centricity: 7 Questions for Biotech and Biopharma Investors

What you’ll learn

  • What patient-centricity is and how it impacts effectiveness of treatments and therapies  
  • Importance of incorporating patient-centricity throughout the entire product lifecycle  
  • Tactics for how to engage patients and garner feedback  
  • The role leadership plays in developing a patient-centered culture

Defining patient-centricity

The topic of patient-centricity continues to gain momentum, but what does it truly mean? According to a widely accepted definition developed from a collaboration of industry leaders with patients, it is “Putting the patient first in an open and sustained engagement of the patient to respectfully and compassionately achieve the best experience and outcome for that person and their family.”  

Patient-centricity focuses on providing individualized care in a collaborative way that considers the patient’s unique needs, preferences, values, and perspectives in all aspects of care delivery. From incorporating patient feedback into service improvements to implementing systems that allow for personalized communications, there are a variety of ways an organization can concentrate their efforts.  

Companies that effectively integrate patient perspectives into their processes and strategies are more likely to achieve better patient outcomes and gain a competitive edge in the market. Therefore, for biotechnology and biopharma investors, evaluating a company’s level of patient-centricity can be crucial to evaluating its potential. To determine if a company takes a holistic approach to patient care or simply uses “patient-centricity” as a tagline, consider asking these seven questions. 

1. How does the company engage with patients throughout the product lifecycle, from early development through post-commercialization? 

Engaging with patients from the very beginning of the development process is critical to understanding their needs, preferences, and experiences. Acknowledging that every patient is unique, John Jacoppi at Cytokinetics said, “Every patient is different, and you need to build in agility and flexibility to whatever program that you’re putting into place.” Establishing open, direct, and transparent communication channels is essential to facilitate ongoing dialogue between the organization and the patient community throughout the product lifecycle.  

By creating a clear blueprint for engagement and appointing a dedicated person to oversee the process, companies can foster meaningful relationships with patients and gather valuable insights from early development to post-commercialization. Examples of this approach include:  

  • Actively involving patients in clinical trial design  
  • Forming patient advisory boards early 
  • Conducting surveys and sharing findings with your patient community 

2. How does the company integrate patient insights into their decision-making processes, clinical trial designs, and product improvements? 

The pharma industry is undergoing a paradigm shift, moving from a product-centric to a patient-centric model of drug development. This evolution is characterized by the systematic integration of patient perspectives beginning in early research and throughout clinical trials, development, and commercialization. This requires consistent communication so patients can share continuous feedback on treatment effectiveness, side effects, and overall experiences. This ongoing feedback loop informs actionable insights and ongoing improvements, fundamentally altering how new therapies are conceived, tested, and brought to market. 

While the industry has made significant strides, challenges persist in quantifying the return on investment for patient engagement initiatives. To ensure engagement efforts continue to influence core business decisions, we need to further encourage the financial value of patient engagement. 

3. Can you provide specific examples of engagement strategies and initiatives the company has implemented to understand and address patient needs, preferences, and experiences?

Companies should present concrete examples of how patient feedback has previously shaped decisions. Examples could include:  

  • Establishing dedicated patient engagement units
  • Developing standardized frameworks and metrics for patient collaboration
  • Improving clinical trial protocols based on patient feedback 
  • Prioritizing the development of treatments for underserved patient populations 
  • Tailoring educational materials to help patients better understand the disease and treatment options 
  • Cultivating long-term partnerships with patient advocacy organizations

When evaluating previous engagement strategies, identify the organization’s key champion for patient-centric initiatives at the highest level. Knowing this person will help you understand who influences decisions within the organization and highlight any gaps or support needed to ensure future success.  

4. What dedicated resources, such as patient advisory boards or designated patient advocates, has the company allocated to ensure consistent patient engagement? 

Collaboration with patient advocacy groups is essential to addressing unmet needs of specific groups. From product development to marketing strategies, patient groups can provide insights into patient needs that lead to the development of more effective treatments or support services that resonate with the patient community. By fostering authentic connections with their identified patient advocacy community, patient needs are prioritized throughout the product lifecycle. 

5. What steps do you take to educate and empower patients and their caregivers about their conditions and the treatments available to them?

Educational content must produce meaningful outcomes for patients in a clear, complete, and transparent way. It should be personalized to the patient, caregivers, community culture, and disease state. To assist with the complexities of the healthcare system, you may need to gather input and feedback from appropriate community stakeholders.  

Although healthcare and pharma are heavily regulated industries, the use of digital and social communications to engage with patients is on the rise. Patients, especially those in younger generations, are turning to social media to understand medical conditions and engage in health-related online activities. These platforms have become essential communication strategies for educating patients.  

6. How does your company culture support and promote patient-centricity, and what specific actions or programs do you have in place to ensure that all employees, from the executive team to frontline teams are aligned with this mission? 

Leadership plays a pivotal role in embedding a patient-centric culture across all levels of an organization. “True patient-centricity starts with a commitment from the very top, from the CEO on down,” said Megan Guhl in Courier Health’s State of Patient-Centricity in Biopharma 2024. “Every single pharma biotech company is going to tell you that they should be patient-centric, but is it woven into the culture and objectives?” Companies should highlight their initiatives to promote this culture, such as providing training programs for employees, incorporating patient-centered goals into performance evaluations, and including patient care as a core company value.  

7. How does the company measure and report on the impact of their patient-centric initiatives, and what tangible outcomes have they achieved in terms of patient satisfaction and health outcomes? 

To measure effectiveness, companies can track metrics like patient satisfaction scores, engagement levels with educational materials, and patient outcomes. Feedback from patients and their caregivers can also provide valuable insights into these initiatives’ success. 

Delivering successful therapies through patient-centric strategies  

An emerging biotech startup was preparing to launch its second groundbreaking therapy. The treatment targeted a rare endocrine disease, addressing the needs of a patient community that had been overlooked for too long. Understanding the need to make a meaningful impact, they partnered with BioLaunch Solutions to identify and navigate key challenges faced by this underserved community. 

Partnering closely with their team, we engaged healthcare providers and patient advocates in an open, direct, and transparent dialogue. Through these conversations, we gained valuable insights into the disease, its impact on patients, and the struggles faced by caregivers. With this knowledge, we developed a comprehensive plan for educational resources. Our goal was clear: to ensure that the therapy would effectively reach and benefit those who needed it most.  

Although the process had its challenges, seeing the impact made on patients and their caregivers reinforced why we’re passionate about our work—bridging the gap between innovative treatments and those they’re designed to help. 

Unlocking the power of patient-centricity with BioLaunch Solutions 

At BioLaunch Solutions, we are driven by a passion to make a meaningful difference in the lives of patients, families, and caregivers. At the heart of our logo and brand is the DNA helix. It symbolizes our commitment to supporting organizations cross-functionally and ensuring that all team members have the tools and resources they need to succeed. Regardless of their role, every individual within an organization plays a crucial part in putting patients at the center of all efforts, and our visual representation reinforces our dedication to delivering patient-centric solutions.  

Whether you are a biotech or biopharma company seeking to enhance your patient-centric approach or an investor looking to make informed decisions that prioritize patient needs, BioLaunch Solutions is your partner in success. Our innovative strategies and tailored support can help you navigate the complexities of the healthcare landscape, from early development through commercialization, while always keeping the patient voice at the forefront. By asking the right questions and assessing a company’s genuine commitment to patient-centricity, you can make a lasting impact on the lives of patients, their families, and caregivers, while driving long-term success for your organization and community. 

To learn more about how BioLaunch Solutions can help you achieve your goals and improve outcomes for patients, we invite you to explore our case studies. Contact us today to discover how our patient-centric solutions can transform your organization and the lives of the patients you serve.