Specialty drug manufacturers have financial relationships with pharmacy benefit managers (PBMs), wholesalers/distributors, specialty pharmacies, and hub services vendors that affect how products are delivered to patients. Most of these stakeholders also have contractual relationships with each other, making the connections within the specialty market particularly tough to untangle, even for experienced sales reps.

Yet unraveling these layered connections is important for understanding what motivates these players so your team can deliver appropriate solutions to their customers. Beyond understanding these different stakeholders, your sales team also should comprehend the various payment and reimbursement models that can influence physician prescribing and, ultimately, access to your product. That’s because the flow of products and money between different stakeholders in the specialty channel depends on the specific payment model used for a brand drug.

Sales Rep Training on Specialty Drug Payment and More

What happens after a manufacturer offers a rebate on a specialty drug paid under the pharmacy benefit? What incentives do physicians have to prescribe drugs paid under the medical benefit? Which price benchmarks do payers use to reimburse physicians? What other factors influence the money trail in the specialty drug channel?

To help answer these complicated questions, CMR Institute has developed a new training resource, Follow the Specialty Drug Dollar (view demo). It simplifies a complex topic like specialty drug distribution and payment and outlines the motivations of various stakeholders so your sales team can pinpoint the right solutions for customers. This eLearning module covers key factors that can contribute to the variable pricing of specialty drugs, including rebates, tiered formularies, and insurance plan/benefit designs. It also includes questions to prompt sales reps to consider the specialty market landscape as they design strategies to deliver more value to customers.

Specialty Drug Training Resources Designed for Higher Performance

The specialty market is changing fast, and we’re here to help your team stay informed so they are better prepared to meet the needs of your customers. CMR Institute offers a broad range of market access and sales training resources created with experts to help improve the knowledge and skills of your specialty sales reps and account managers. If you need something that’s more tailored for your specialty sales team, we can also quickly customize any of our off-the-shelf training courses to meet your specific needs. 

Reach out to us at (800) 328-2615 or at solutions@cmrinstitute.org to learn how we can improve your team’s performance.

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Want to learn how you can use these CMR Institute microlearning resources to create an impactful learning program for your team? Call (800) 328-2615 or email us.