Everyone wants to be the "Yelp" for this or the "Uber" for that but in this case SERMO is much better than a public rating service, it uses it's vast reach to physicians to get ratings for the medications they prescribe every day.
Because they are providing drug ratings to doctors, SERMO has set the gold standard for drug reviews. The quality of their ratings is ensured through:
- Working with Blue Null to ensure statistical purity
- Only showing data for drugs that have enough data to make it relevant (25-45 ratings depending on variability)
- Limiting each doctor to one vote (which can be changed by that doctor with a new review)
- No payment for reviews, all data is provided freely
This has resulted in a robust database built on voluntary reviews over the past 11 months, mainly from the US with another 29 countries opened up for just the past two weeks. Some of the top-line stats for the service are:
- 250,000 drug ratings (185,000 from the US)
- 20,000 comments
- 85,000 drug views in the three weeks it’s been visible
- 125,000 views of competitor tables
- 200,000 views of home page drug carousel (based on specialty)
- 400,000 views of the data … in three weeks!
There are 345 conditions with active drug ratings, the top 50 are:
Peer to peer influence is the most powerful kind of influence among physicians. Social is peer to peer, and Drug Ratings is peer to peer reviews of drugs.
– Peter Kirk, SERMO CEO and WorldOne founder
The number of drugs rated in the system is large and growing every day. Since ratings are not shown until a valid review set is available the most common drugs are the first to show up. The current database has:
- 2,253 drugs with 50+ reviews which is enough to ensure they show
- 861 drugs with 20-49 reviews, some of which will show and some will require just a few more reviews
- 8,389 drugs with at least one review
If we look at groupings, there is a long tail of drugs with 1-9 ratings but interesting bumps at 50-69 (the number at which most drugs will show in the rankings) and another at 100-199 (which is a larger grouping so captures more ratings).
Benefits for Pharma
This service has obvious value for physicians, but what can it do for pharma marketers? There are a number of angles here:
- Market-leading drugs will have their position reinforced
- “Underdog” drugs may get comments that illustrate their special strengths
- SERMO will allow brand manufacturers to sponsor a link to their MedInfo website from the drug’s entry
- Pharma marketers can buy reports on the ratings by condition either one-off or quarterly
- In late Q3 SERMO will have a portal available to view and play with the data (though that might bleed into Q4)
This announcement is big news for pharma marketers. If your drug is one of the 2,253 with substantive ratings you can now see what physicians really think about it. We recommend you reach out to SERMO about this, or talk to your Klick rep and we can make the connection for you.