In response to declining reimbursement and other market changes, community oncology practices (COPs) are strategically focusing on enhancing capabilities, expanding service offerings, and diversifying their payer base. HIRC's report, Community Oncology Practices: Market Trends and Manufacturer Competitive Assessment, reviews COPs' needs, challenges, and concerns, top strategic imperatives for 2024, and provides an assessment of manufacturer engagement. The report addresses the following questions:

• What are COPs' top market concerns and strategic priorities in 2024?
• What is the status of COP activity related to oncology pharmacy and dispensing services (e.g., alternate site infusion, specialty pharmacy, etc.)?
• What is the status of oncology preferred drug lists, clinical pathways, and other utilization management tactics?
• Which manufacturers are most often nominated as COPs' partner of choice? Which firms provide the best oncology-related support offerings?
• How do pharmaceutical firms benchmark in account engagement and quality of oncology account managers, medical/clinical science liaisons, and field-based reimbursement managers?

Key Finding: Expanding and/or improving current capabilities and service line offerings (e.g., CAR-T cell therapy, bispecific antibody therapies, etc.), and broadening contracted payer base to drive patient volume/growth are among oncology practices' top strategic priorities in 2024.

Top Market Trends for Community Oncology Practices in 2024. Community oncology practice respondents identify a number of market trends with the potential to impact their organizations, including (1) declining reimbursement and margin on pharmaceuticals, (2) Inflation Reduction Act impacts on provider-administered medications, and (3) bispecific antibody therapies.

The full report provides the complete listing of 50+ trends identified by oncology practices, as well as their top strategic priorities for the next 12-18 months.

COPs Most Frequently Designate Preferred Products in Categories with Oncology Biosimilars. Panelists were asked to indicate whether their practice designates any oncology medications as preferred across eight medication types. About 93% of COP decision-makers report having preferred oncology biosimilar products in place in 2024, 68% report preferences in IV targeted therapies, and 63% in conventional chemotherapy products. The full report examines biosimilars in detail, including which are preferred and how COPs promote their use.

Pharmaceutical Manufacturer Competitive Assessment. COP respondents were asked to evaluate manufacturer customer-facing personnel, such as oncology account managers, medical/clinical science liaisons, and field-based reimbursement managers. Pfizer Oncology, Amgen, and Genentech rate highest in overall manufacturer field personnel engagement. The complete report provides COP executives' ratings of 30+ firms active in the oncology space, as well as ratings of manufacturers' oncology-related support offerings and nominations for overall partner of choice.

Research Methodology and Report Availability. In January HIRC surveyed 40 executives from community oncology practices. Online surveys and follow-up telephone interviews were used to gather information. The full report, Community Oncology Practices: Market Trends and Manufacturer Competitive Assessment, is available now to HIRC’s Managed Oncology subscribers at www.hirc.com.