The power of reputation: how a pharma company's image shapes physicians' prescribing decisions

Physicians' prescribing decisions are no longer driven solely by a drug's efficacy and safety—many other factors now come into play. When two drugs from different companies are roughly equal in efficacy, safety, and price, what tips a physician's choice? The answer is the company's image and reputation. Pharmaceutical companies should therefore invest in building and protecting their corporate image to earn the trust and respect of physicians and patients.

The surprising key factor behind physicians' prescriptions

A survey spanning six countries—Australia, China, Germany, India, the UK, and the US—polled more than 1,000 physicians and found that two-thirds of physicians say they prescribe reluctantly when a drugmaker has a poor reputation.

When the drugs are similar, how do physicians choose?

Stephanie Marchesi, CEO of WE Global Health, asked: "If two drugs from different companies are comparable in efficacy, safety, and price, what determines which one a physician prescribes?"

Corporate reputation matters—a lot

Physicians listed a long series of factors that could influence prescribing, and corporate reputation ranked first, followed by the company's reputation in the specific disease area.

When physicians rated the importance of corporate reputation on a scale of 1 to 10, 61% scored it an 8, 9, or 10, for an average of 7.66.

How do HCPs assess a company's reputation?

The criteria include:
1. The quality of medical information the company shares
2. Relationships with patients and patient groups
3. Strong leadership
4. Relationships with healthcare professionals
5. Investment in environmental and social issues

Among these factors, a reputation for patient centricity matters most—yet 55% of healthcare professionals believe most pharmaceutical companies still have room to improve.

Reputation even outweighs sales relationships

The research team was surprised by how strongly corporate reputation shapes prescribing behavior: two findings showed that a company's reputation even outweighs the relationship between its sales representatives and healthcare professionals.

How can we help pharmaceutical companies?

"We have always been curious about how much corporate branding influences decision-making, which led us to explore the impact of corporate brands on healthcare."

"By uncovering these insights, we hope to help companies strengthen their communications so that internal resources and investments can build on—and protect—the company's reputation."

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