What can you do to keep your company’s reputation in the “good” to “excellent” camp?
Relationships are important in rare—and so are reputations. Rare disease communities are often small and closely knit. Patients and caregivers rely on each other for advice, opinions, and support. They are with each other in the trenches, both online and offline, and they forge deep bonds based on shared experience, trust, and commitment to each other’s well-being.
As a pharmaceutical marketer, you are part of this community, which means you will be held to the same high standard. It also means that if you do something to jeopardize the trust that has been placed in you, the news is likely to be shared.
There is something to learn in this regard from The Corporate Reputation of Pharma in 2013, a global survey of 800 patient groups, conducted in November-December 2013 by Patient View. When asked to rate the reputations of multinational pharmaceutical companies, only 35.4% of respondents gave this sector a “good” or “excellent” rating. Of the 8 healthcare sectors included in the study, pharma companies came in 7th in terms of reputation. Biotechnology pharma companies came in 6th (40.6%) and for-profit health insurers came in 8th (26.7%).
Some factors that influenced the ratings were pricing policies, transparency, integrity, and management of adverse event news, all of which can either build or diminish patient trust. Pharma’s poor showing relative to other healthcare sectors is not news. But what is surprising is that Patient View found that the pharmaceutical industry’s reputation has declined. In 2011, 41% of respondent patient groups said the pharma industry had an “excellent” or “good” reputation. Read More