Service could add value to branded products nearing patent expiry
The track-and-trace technologies that are being developed for securing pharma distribution chains have business value beyond security, say their proponents. There are identifiable business values to be obtained from having the system in place—it’s not just a matter of regulatory compliance. Indeed, preliminary studies have shown efficiencies in handling product returns, in gaining higher visibility to downstream supply-chain processes, and in better managing inventories. But now, one vendor is looking at track-and-trace as a pathway to better healthcare.
Covectra (Westborough, MA), an IT vendor that markets the AuthentiTrack system, has adapted that system to an adherence-monitoring service. According to Steve Wood, president, a brand owner could provide an incentive to patients to call in the serial number of the prescription they currently have, and if the serial number is the correct one (as determined by the brand owner’s own policies), receive the incentive along with however much counseling or other support services called for. The program could then monitor the progression of the patient’s treatment, sending a reminder for refills, checking the serial number of the next refill, or other objectives.
“We’re talking with pharma companies who might have a product nearing the end of its life cycle, and who would want to position themselves favorably with payers by offering a higher level of service and potentially better outcomes for their patients,” he says.