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Clarity in DTC TV ad drug pricing | Medical Marketing and Media

With the government’s recent directive that drug companies must include the prices of prescription medicines in DTC television ads — and PhRMA’s new guidelines for its members — transparency around cost is a critical priority moving into 2019. But disclosing these prices without context may prevent consumers from seeking medical care, according to PhRMA’s recommendation to the industry.

So what do these changes mean for advertisers and marketers? As advertisers, we support brands’ participation in PhRMA’s voluntary action, which will soon direct patients to comprehensive info about medicine costs. That info will include the list price of the medicine and expected range of out-of-pocket costs, as well as available financial assistance.

A greater focus on transparency around medical costs is important to consumers, but it is not clear the DTC requirement will have a positive effect on consumer understanding of cost or, more importantly, on health decisions.

And misleading price info may deter people from seeking medical care if they believe they cannot afford the cost of a drug, even if their insurance would cover most of it. The list price info on the advertised brand will be inadequate to help consumers evaluate appropriate treatment choices.

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Clarity in DTC TV ad drug pricing – Commercial – MM&M – Medical Marketing and Media.

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