Pharma Reform

If people don’t trust you or believe what you have to say,  it is hard for them to buy from you, regardless of how good your product might be.   This can be true for an individual, a company, or even an industry.

Trust is a fundamental, but mostly unspoken,  requirement for success in the healthcare market.   And, when commercializing prescription drugs, trust takes on an even greater level of importance because physicians (and their patients) are relying on the treatment to have the expected beneficial effects without putting patient safety or lives  at risk.

Integrity is the foundation for pharmaceutical company success in the future because it is the basis for establishing trust.  Integrity, as demonstrated consistently through our words, decisions, and actions can build trust over time.  In the pharmaceutical industry and in the healthcare market there is the added expectation for moral and ethical integrity to do what is best for the patient.

A breach of integrity can destroy a solid base of trust that has built up over years.  Unfortunately, as the pharmaceutical industry has experienced, it is often more difficult, and takes longer, to repair the consequences of a single breach of integrity than to establish the trust in the first place.

So what are the benefits a pharmaceutical company can reap if they make  integrity a cultural expectation and priority?   Some are less obvious than you might think.    So, what do you think they are?  Stay tuned.  Answer in the the next post.

mike@pharmareform.com