The Public Relations (and Future) of Healthcare

U.S. Senate Debates Future of Healthcare Reform

U.S. Senate Debates Future of Healthcare Reform

There was a time not so long ago when healthcare was a huge mystery, understood only by doctors and industry insiders. Today, much of that mystery has been unlocked through the Internet and a curious populace, as billions of dollars are being spent marketing drugs and services to physicians and consumers alike.

The conversation (and controversy) surrounding healthcare in the U.S. continues to evolve at both the industry and legislative levels. With a divided Congress and an influx of emerging technologies, the need for enhanced communication by healthcare companies is greater than ever.

Providers, hospitals, biotech, pharmaceutical and medical device companies, among others, all have distinct reasons and needs for communicating, from securing funding, to FDA reporting and complying with other regulatory processes, to introducing new products or therapies to providers and patients.

Regardless of the reason, communication at the professional level plays a fundamental role in every facet of healthcare. In the last decade, the avenues available for reaching target audiences have multiplied exponentially, ranging from social media to direct communications.

As one example, when the FDA approves a new medication, the message a pharmaceutical company wants to convey to consumers will center around how the new therapy can improve patients’ lives; the message to physicians focuses on the medication’s safety and efficacy, patient indication and reimbursement.

Many factors are at play in a changing healthcare landscape, and uncertainty fosters opportunity. Our industry, whether the focus be investor relations, strategic public relations, product publicity or social media, is likely to see a bevy of communications firms launch new departments devoted to healthcare, according to a recent blog post in PR News.

Communications advisory firms and agencies that will thrive in the new healthcare landscape are those that can help create new narratives for their clients, along with messaging that resonates and facilitates the right exposure for an organization’s products or services among many stakeholders, including existing and potential customers, investors and key opinion leaders.

Change is the constant in the healthcare sector, and smart, effective communication remains paramount.

– Joanna Rice, jrice@pondel.com

Small Talk at Annual Shareholders’ Meetings

We’re nearing the end of the season with respect to annual shareholders’ meetings, and taking a constructive look at what went right or wrong is always helpful in anticipation of next year.

Perhaps one of the most daunting aspects of annual shareholders’ meetings is when investors and management teams are mingling outside of the formal meeting session. How should management navigate small talk with investors?

Following are tips to keep in mind:

  • Be mindful of selective disclosure. If you think you’ve disclosed previously undisclosed material information, consult your CEO, CFO, general counsel or IR representative.
  • Proactively engaging in conversation with investors is OK, and actually encouraged.
  • It’s fine to say, “I don’t know.”
  • Talk in plain English. Keep it simple by avoiding company or industry jargon and acronyms.
  • Respond to questions in a direct, concise manner. Try not to wander off on tangents.
  • Do not make future projections.
  • Remain courteous, even if an attendee isn’t. Of course, if a conversation escalates to an unreasonable level, engaging security or even law enforcement is always an option.
  • Do not wander outside of your area of expertise. If you’re not sure about something, refer the question to the appropriate person.
  • Collect business cards or contact information of every investor you spoke with, and pass along to your IR representative.
  • Introduce investors to IR representatives if a follow-up is appropriate.

– Evan Pondel, epondel@pondel.com