The internet has changed literally every aspect of our lives. From how we send and receive information to providing us with endless hours of entertainment and so much more. The global growth of going online has brought everything closer, essentially delivering the world to our fingertips.
With the expansion of the web, e-commerce and doing business online has exploded as well. The internet’s popularity has resulted in the convenience that has made online pharmacies what they are today. Due to that convenience, many people are choosing to do their prescription shopping, on these websites. What does that mean for traditional pharmaceutical sales reps? Is there a place for them in the industry anymore?
Numbers Don’t Lie
According to a 2016 article in Managed Healthcare, online and mail-order pharmacies will experience a significant increase in patient utilization and number of prescriptions being dispensed in the next five to 10 years. They predict that this uptick in prescriptions filled will be due to a new wave of specialty pharmacy products, the natural aging of our population, as well as the changing target market determined by online activity and purchases.
A look back reveals that by 2006, there were a total of 700,000 prescriptions made per year through online and mail orders. By 2011, the total reached 800,000 prescriptions (Managed Healthcare). Additionally, according to IMS Health, between 2013 and 2014, the dispensing of specialty prescriptions via online/mail order services grew by 36.3%. These specialty products also accounted for $38.1 billion in sales during that same time frame. As of last year, the overall sales of prescriptions through mail-order services was up 24.9% from 2014.
The new target market of the pharmaceutical industry appears to be younger generations (“X” as well as Millennials) who not only grew up with the internet but are now reaching the age where they are beginning to have an increase in the amount of prescriptions filled. Online pharmacies represent the most convenient option for them, and it’s expected that they will continue the popular trend of going online for their prescriptions.
The Downside of Online
Shopping online for any product certainly carries a little bit of uncertainty. When it comes to buying prescription drugs through various websites, questions abound: “Am I really getting what I’m paying for?” “Is what I’m buying safe?” The National Association of Boards of Pharmacy claims that the majority of websites selling medications are not what they appear to be. The group has viewed nearly 11,500 online drug outlets and found that 96% are operating in conflict with current pharmacy laws and practice standards.
The NABP also warns that buying from “rogue” online pharmacies (like those found overseas) puts customers at risk of receiving medications that contain fillers such as toxic substances like rat poison, having personal or financial information stolen, or having an email inbox with spam, viruses, or other malware that could infect a computer. In some of the worst cases, people have suffered irreparable damage, and some have even died from receiving counterfeit medications that didn’t treat their serious medical conditions.
Other discouraging stats:
- 20 new illegal pharmacies appear on the Internet every day, according to the Center for Safe Internet Pharmacies.
- The NABP has concluded that 89% of illegal online pharmacies do not require a valid prescription.
- A report compiled by the European Alliance for Access to Safe Medicines showed that 62% of medicines purchased online are either fake or substandard.
The Case for Tradition
The internet has put the pressure on a multitude of merchants, claiming more than a fair share of them. Sales reps are feeling the same pressure, no doubt, as many struggle to stay relevant in this changing landscape of pharmaceuticals.
One thing that the internet can’t replace, however, is the personal attention and service that a pharma sales rep can offer. When a physician needs help with detailed information including various stats and case study results or when they need samples to give to patients, a pharmaceutical rep can provide all of that – and more.
Statistics have shown that consumers are more prone to buy products (or in this case, take medications) when they feel like they trust who is selling or giving it to them – there is a human element that many people enjoy and prefer. A relationship like that, in the eyes of many consumers, is much more valuable.
Online pharmacies have certainly made their mark in the world of pharmaceuticals, and it certainly appears that they will continue to carve out large chunks of the industry which pharmaceutical reps once had a greater section of the market share. To succeed in an already highly-competitive field, traditional pharmaceutical sales reps will need to continue to get better at their jobs by doing everything that the internet can’t.
