Harvard Case - Express Scripts: Promoting Prescription Drug Home Delivery (A)
"Express Scripts: Promoting Prescription Drug Home Delivery (A)" Harvard business case study is written by John Beshears, Patrick Rooney, Jenny Sanford. It deals with the challenges in the field of Economics. The case study is 4 page(s) long and it was first published on : Feb 26, 2016
At Fern Fort University, we recommend Express Scripts implement a comprehensive strategy to promote prescription drug home delivery. This strategy should leverage their existing infrastructure, capitalize on the growing demand for convenience and cost savings, and address potential challenges through a combination of marketing, partnerships, and operational optimization.
2. Background
Express Scripts, a leading pharmacy benefit manager (PBM), is facing increasing competition and pressure to innovate in a rapidly evolving healthcare landscape. The company recognizes the potential of prescription drug home delivery as a key growth area, offering convenience and cost savings for patients. However, they are unsure about the best approach to promote this service and overcome potential challenges.
The case study focuses on the main protagonists:
- Express Scripts: The PBM seeking to expand its services and gain a competitive edge.
- Patients: The primary beneficiaries of home delivery, seeking convenience, cost savings, and improved medication adherence.
- Pharmacies: Potential partners in the home delivery process, requiring careful integration and negotiation.
- Health Insurance Companies: Key stakeholders with potential concerns about cost and service quality.
3. Analysis of the Case Study
This case study can be analyzed through the lens of several frameworks:
Strategic Framework:
- Porter's Five Forces: The industry is characterized by high competition, with new entrants like Amazon and established players like CVS and Walgreens vying for market share. The bargaining power of buyers (patients) is increasing due to rising healthcare costs and a growing preference for convenience.
- Competitive Advantage: Express Scripts can leverage its existing network, data analytics capabilities, and strong relationships with health insurance companies to create a competitive advantage in the home delivery market.
Financial Framework:
- Cost-Benefit Analysis: Home delivery can reduce costs for patients and insurers through reduced travel expenses, improved medication adherence, and potentially lower prescription drug prices.
- Return on Investment (ROI): Analyzing the potential cost savings, increased patient satisfaction, and market share gains associated with home delivery can help Express Scripts justify the investment in this new service.
Marketing Framework:
- Target Audience Segmentation: Identifying key patient segments with a strong need for home delivery, such as the elderly, those with mobility issues, and individuals living in remote areas.
- Value Proposition: Clearly communicating the benefits of home delivery, including convenience, cost savings, and improved medication adherence, to target audiences.
Operations Framework:
- Supply Chain Management: Optimizing the logistics of prescription drug delivery, ensuring timely and accurate delivery to patients.
- Technology and Analytics: Leveraging technology for order management, inventory tracking, and patient communication to enhance efficiency and customer experience.
4. Recommendations
Express Scripts should implement the following recommendations to successfully promote prescription drug home delivery:
1. Targeted Marketing Campaign:
- Develop a multi-channel marketing campaign targeting specific patient segments, including online advertising, social media outreach, and partnerships with community organizations.
- Highlight the key benefits of home delivery, such as convenience, cost savings, and improved medication adherence, through compelling messaging and testimonials.
2. Strategic Partnerships:
- Collaborate with pharmacies to streamline the delivery process, ensuring seamless integration and efficient medication dispensing.
- Partner with health insurance companies to incentivize patients to use home delivery, potentially offering discounts or co-pay reductions.
3. Operational Optimization:
- Invest in technology and analytics to enhance order management, inventory tracking, and delivery logistics.
- Develop a robust customer service system to address patient inquiries and resolve any delivery issues promptly.
4. Pilot Program:
- Launch a pilot program in select markets to test the feasibility and effectiveness of the home delivery model.
- Gather data on patient satisfaction, cost savings, and operational efficiency to refine the program and scale it up.
5. Continuous Improvement:
- Continuously monitor and evaluate the performance of the home delivery program, identifying areas for improvement and adapting the strategy based on data and feedback.
- Stay abreast of industry trends and regulatory changes, ensuring the program remains competitive and compliant.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of the case study, considering the following factors:
- Core Competencies and Consistency with Mission: Express Scripts' existing infrastructure, data analytics capabilities, and commitment to patient care align well with the home delivery strategy.
- External Customers and Internal Clients: The recommendations address the needs of patients seeking convenience and cost savings, while also considering the interests of pharmacies and health insurance companies.
- Competitors: The recommendations aim to differentiate Express Scripts from competitors by leveraging its unique strengths and offering a superior customer experience.
- Attractiveness ' Quantitative Measures: The potential cost savings, increased patient satisfaction, and market share gains associated with home delivery suggest a strong ROI for this initiative.
6. Conclusion
By implementing these recommendations, Express Scripts can successfully promote prescription drug home delivery, capturing a significant share of the growing market and achieving its strategic goals. The company's ability to leverage its existing infrastructure, capitalize on the growing demand for convenience, and address potential challenges through a combination of marketing, partnerships, and operational optimization will be key to its success.
7. Discussion
Alternatives Not Selected:
- Exclusive Partnership with a Single Pharmacy: This option could limit flexibility and potentially increase costs.
- Focus on a Narrow Patient Segment: This approach could miss out on opportunities to reach a wider audience and maximize market share.
Risks and Key Assumptions:
- Regulatory Changes: Changes in healthcare regulations could impact the viability of the home delivery model.
- Patient Adoption: The success of the program depends on patient adoption, which may be influenced by factors such as trust, convenience, and cost.
- Competition: The competitive landscape is dynamic, and new entrants could disrupt the market.
8. Next Steps
- Develop a Detailed Implementation Plan: Outline the specific steps, timelines, and resources required to implement the recommended strategy.
- Secure Necessary Approvals: Obtain approval from key stakeholders, including health insurance companies and pharmacies.
- Launch the Pilot Program: Select pilot markets and gather data to evaluate the program's effectiveness.
- Continuously Monitor and Improve: Track key metrics, gather feedback, and make adjustments as needed.
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Case Description
The pharmacy benefit manager (PBM) sector processes prescription drug claims on behalf of companies that offer a prescription drug benefit to their employees. This case follows Bob Nease, Chief Scientist at Express Scripts, as he considers methods to promote home delivery of prescription drugs by mail-a process proven to lower prescription fill error rates, increase cost savings, and improve medication adherence.
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