Pharmaceutical Patient Services

With the rapid growth of highly specialized therapies, LLR believes our overburdened healthcare system needs to find new ways to help patients and providers navigate a complicated network of options. Biopharma companies, hubs, physicians and emerging tech vendors must collaborate on a patient-centric support model that empowers patients and physicians at the point of care.

LLR has extensive experience investing in tech-enabled biopharma and patient service companies that are re-envisioning patient care. Companies and intermediaries in this space should contact Will Sadock to discuss opportunities.

The required transition to highly personalized patient journeys involves more than just automating or digitizing the status quo of pharma patient services: it means rethinking it. Traditional pharma commercialization HUBs play a critical role in creating access to these emerging therapies, but what if we could redesign patient support for the era of personalized care?

Rob Feeney, Senior Operating Advisor at LLR Partners and former CEO of MedVantx

A Sector Ripe for Innovation and Automation

Competition in the drug market is heating up as the FDA drug pipeline grows and emerging biotechs represent a greater portion of the new drug pipeline. FDA approval, however, is no longer viewed as the major gate to a successful drug launch. Rather, biopharma companies are focused on ensuring payer reimbursement and keeping patients on therapy given the shift to higher cost medications.

The drug landscape has also shifted away from small molecule drugs towards clinically complex specialty drugs. In today’s market, patient populations are consequently more targeted and pharma is increasingly required to manage individual patients journeys.

To manage patient care for these more complex therapeutics, biopharma turned to large call-center focused models. But such demand fulfillment is no longer sufficient as the manufacturing complexity for specialty drugs, biologics and CGTs has driven lower gross margins for pharma. Biopharma is consequently now focused on fulfilment optimization, whereby future commercialization paradigms revolve around improving ROI for pharma’s patient services vendor base.

Given the prevalence of legacy call-center models, lack of technology enablement and limited patient adoption proof points, LLR believes there is a near-term opportunity to build some of the best-in-class patient service solutions for pharma through the automation of manual processes, delivery of next-gen patient experiences and the integration of disparate systems across stakeholders.

From mass market to specialty approaches

Percent of drug spending in the U.S. related to specialty medications
$62 billion
Expected market expansion of new specialty medications
190 hours
Time spent on enrollment by patients and providers before approval or denial

See You There?

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  1. Assistant Secretary for Planning and Evaluation (ASPE). “Trends in Prescription Drug Spending, 2016-2021.” ASPE Office of Science & Data Policy, 2022 https://aspe.hhs.gov/sites/default/files/documents/88c547c976e915fc31fe2c6903ac0bc9/sdp-trends-prescription-drug-spending.pdf
  2. Nephron Research LLC. “Nephron Research Specialty Market Model 2021-2025.” Nephron Research LLC, 2021, https://nephronresearch.com/nephron-research-specialty-market-model-2021-2025/
  3. Niteesh K. Choudhry, et. al, “Drug Company–Sponsored Patient Assistance Programs: A Viable Safety Net?” National Library of Medicine 2010, https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2873618/

The information presented herein is intended for an audience of potential LLR portfolio companies and the intermediaries supporting their capital raise processes. Named LLR investments presented herein do not reflect a complete list of LLR investments and are provided for informational purposes only. Certain statements about LLR made by portfolio company executives and other quoted parties herein are intended to illustrate the work of LLR’s Value Creation Team with such portfolio companies or reflect the individual’s perspective on the featured industry sector. Such portfolio companies are controlled by investment vehicles managed by LLR. Quoted parties were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company or Senior Operating Advisor roles, and in certain cases are also owners of portfolio company securities and/or investors in LLR-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.