A lot of WHAT he has been saying and said actually makes sense. I personally think he’s headed in the right direction and seems like a good guy.
Focusing more heavily on GI’s and current prescribers, increasing sample utilization, going away from Terri, Martin, & crew’s insanely expensive Big Pharma TV commercials and paid celebrities, getting rid of the atrocious segments, including a volume growth component in the IC plan, accurately and fairly compensating your highest revenue producing reps, etc. Love all of that.
But there’s still a lack of clarity on the HOW that is concerning given the timeline of our situation. Using AI and leveraging a team of people to question spending is not a robust or concrete reduction in expenses and will most likely not shave off enough money to the degree we need or in the timely manner we need.
One — Terri, Martin, & crew hired way too many reps and many territories aren’t viable (often not at the fault of the rep).
Two — Going away from speaker programs to the degree he’s chosen doesn’t entirely make sense either if we need to significantly grow revenue quickly. Terri, Martin, and crew’s approach of forcing them on reps to where they turned into a check-the-box activity was a terrible strategy and massive waste of money. However, there are situations though, where they can be highly effective with the right reps and should still be an option if the rep can justify the need. Consider allowing for some flexibility there and trust your reps to do the right thing that makes business sense and that’s going to grow their territory as fast as possible.
Three — Thinking your sales reps can be in all of their GI practices every week and get any sort of quality interactions in the 2025 pharma landscape with our current quarterly budget is an impossibility in most cases. Quarterly budget will need to be increased. Since we’re focused on reducing expenses though, instead of doing that across the board, if we’re doubling down on what’s working, consider giving your highest potential/highest volume producing territories more budget.
Four — A provider writing 1 script a week vs. 1 a day has significantly less to do with them believing the drug will work better than a PPI and more to do with coverage related concerns. We need to drill down into this more as a company and arm reps with better information on this matter so we can improve pull-through.
Again, love him as a person so far and firmly believe he’s on the right track. But his plan still lacks a level of depth and granularity. Hopefully this was more of a blueprint and there are more details and changes coming.