Disease-specific leadership and corporate reputation are top influences on prescribing decisions for physicians globally, a new survey reveals. Eight out of 10 physicians say that corporate reputation influences their perception of a medicine’s value.
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According to WE Communications’ (WE) latest Brands in Motion global study, “Reputation Rules: Unlocking Physician Prescribing Power,” when medicines have similar safety, efficacy, price and other functional factors, physicians weigh a company’s leadership in a specific disease area and its overall corporate reputation to make a selection. In fact, 59% and 58% of physicians, respectively, say that disease-specific leadership and corporate reputation are very or extremely influential on which medicine they choose to prescribe.
The four biggest drivers of corporate reputation, based on responses, are “reliability and credibility,” followed by “trust,” “transparency and communication,” and “innovation.”
So how do physicians assess corporate reputation? More than half of physicians say that investment in R&D is one of the factors that influence their trust in companies, and 47% identify being a leader in R&D innovation as one of the top actions that companies can do to improve their reputations.
More than half (55%) of responding physicians say that fighting to improve patient access can improve a company’s corporate reputation. Nine out of 10 physicians say they are prepared to act to increase access, including by partnering with companies. Of note, only 27% of physicians say they believe that companies are sufficiently transparent about drug pricing. WE surveyed more than 500 physicians in six global markets — including the United States — in partnership with Sapio Research.