- Case Studies
- Case Study Details
Global Drug Launch: Pharma’s Quest For Market Dominance
-
IndustryPharma -
DomainAdvanced Analytics
-
LocationCalifornia
-
Date25 Apr, 2022
Client Background
This case study delves into the journey of a pharmaceutical company aiming to launch medical drugs in an untapped global market to achieve higher sales and market share. The company is a leading player in the healthcare industry with a rich portfolio of successful pharma products.
What did we helped with
Innovatics understood the overall company landscape and helped the organisation to take a leap with new product launches in an untapped market. There was a need for a consolidated, streamlined data management and reporting system to enhance metric tracking, and work towards a goal to achieve high sales and market share.
The Ultimate Challenge
Launching a new product in an unfamiliar global market highlights the significance of gaining accurate and clear insights into the demand for the drug across various geographical regions. The drug in question targets a disease intricately connected to other medical conditions, introducing complexity in understanding the nuances and interdependencies of the demand dynamics.
- Huge quantity of data at the granularity level of each individual patient.
- Lack of uniformity between business units (Veeva Marketing Data, Finance, Operations, Supply Chain, Inventory Data, and Healthcare Association Data).
- Incorporation of data from different sources in two separate platforms to cater medical representatives (Field Report on iPad application using MSTR) and the leadership team (Tableau Dashboard).
Types of Data gathered
APLD Data
- Patient ID
- Age & Gender
- Admit Date
- Discharge Date
- Location of Care (HCO)
- Payor
- Prescription Date
- Quantity Dispensed
VEEVA, GA Data
- CRM Data
- Physician ID (HCP)
- Affiliated HCOs (HCO)
- Face-to-face visits
- Virtual visits
- Email Campaigns
- Speaker Program Data
Inventory & Distributor Data
- Distributor ID
- Order Recipient (HCO)
- Location
- Inventory
- Order Quantity
- OTIF %
- Adherence %
Data Sources
- Veeva Open Data.
- Internal Data.
- Symphony Health Data.
- American Hospital Association.
Other use cases of presented solutions for pharmaceutical operations :
Personalized Medicine Development
Utilise data analytics to analyse genetic and patient data to identify potential candidates for personalised medicine. This can streamline drug development for specific patient populations.
Spotting Trends for Tomorrow’s Cures
Be a trend spotter in the world of medicine. By analysing market trends, competitor moves, and listening to what patients need, we cook up new drug ideas that could change the game.
Market Trend Analysis for New Drug Development
Conduct market trend analysis using data analytics to inform new drug development strategies. Analyse market dynamics, competitor activities, and patient needs to identify opportunities for innovation.
Patient Adherence Programs
Utilise data-driven insights to develop patient adherence programs. Analyse patient data to identify factors affecting medication adherence, personalise interventions, and improve patient outcomes.
Health Outcomes Research
Conduct health outcomes research using data analytics to assess the real-world impact of pharmaceutical interventions. This can provide insights into treatment effectiveness and economic outcomes
Supply Chain Management
Implement data analytics to optimise the pharmaceutical supply chain. This includes demand forecasting, inventory management, and logistics optimization to ensure a seamless and cost-effective supply chain.
Technology Stack & Softwares
HQ reports
Field reports
The Ultimate Outcome
Innovatics successfully helped the company jump in the new markets by giving them an end to end big data backup and a strong yet fully automated performance tracking solution. This performance tracking solution comprises Field Employees Dashboard and HeadQuarters (HQ) Dashboard which were successfully able to track product performance on multiple hierarchical levels. Giving the user relatable information so as they can identify areas where resource deployment is required.
Benefits
- Sales Performance Tracking.
- Competitor analysis & market performance reports.
- Management of Geography wise Budget Allocation.
- Ad-Hoc Reports.
- Analysis at multiple granularities: Accounts, Team, Geography.
Applications
- KPI tracking across geographies.
- Forecast achievement alert.
- Top/Bottom Performers (Account and Physician level).
- Hierarchical analysis to view team/own performance.
- Website performance for customer engagement.
- Email channel and Speaker Program tracking.
- Cross-channel performance analysis.
- Physician engagement details and affiliations.
Benefits
- Quick and easy sales performance tracking.
- Cross-channel performance analysis to identify key performing channels.
- Detailed report for daily/weekly task tracking.
- Aid to finance team for better budget allocation.
- Website performance to improve engagement and conversions.
ROI (Return On Investment)
We have created a fully automated process (Multiple Data Sources ->S3 -> Redshift -> Tableau/MSTR -> QC Report/Alerts) that helps the operations department to reduce weekly man hours by 67%.
Weekly tracking helps catch underperforming areas quick
Report view highlights accurate performance to make the right strategic decision.
TAT for report updates has been reduced to T+1 day(s) from T+3 day(s).
Optimised website performance by tracking website engagement.
Channel wise performance tracking along with cross-channel analysis in a single dashboard.
Physician level grain for tracking engagements, interactions and prescriptions via different channels.
Single platform to track KPIs with account-physician and physician-account relationship.
2 years of data on the dashboard and 5 years of data in master data management with email subscriptions reduces significant time and effort of the leadership team to extract daily updates. New system reduces the exact time by 90% compared to traditional setups.
