Commercial Analytics
Recent years have brought significant change to the Life Sciences industry and the need for analytic capability has never been greater. With the advent of new healthcare legislation, sophisticated new therapies that treat complex and chronic disease states, new distribution and promotional models, and increased consolidation and alliance among manufacturers, companies are challenged to respond to change more rapidly and devise and enact strategies that result in market leadership positions.
Whether it involves understanding the trends of a promotional strategy, the effect of a competitor launch, the impact of a tier change in a managed care plan, the demographics of a patient population in a certain region, or the implications of a proposed pricing change, the requirements for commercial analytics continually broaden in scope and increase in sophistication.
Sales and Marketing Analytics
As the small-molecule blockbuster products of years past give way to up- and- coming specialty therapies, life sciences companies have adopted new commercial models that incorporate multi-channel promotional approaches to build relationships with healthcare professionals and patients. New analytic models are needed that provide increased visibility to the dynamics of the specialty supply chain. The need for analytics has never been greater. In addition to the CRM and promotional aspects, many products in evolving therapeutic areas are now distributed through small specialty pharmacies, warranting new analytic models that provide increased visibility to the dynamics of the specialty supply chain.
Collaborative delivers analytic applications that support today’s sales and marketing organizations: providing multiple perspectives and breakdowns of product and market performance, as well as insight to the characteristics of patient and professional population segments that affect prescribing behaviors. With its deep understanding of underlying data, the Collaborative team brings the knowledge and experience to create interactive dashboards and scorecard applications that provide intuitive “guided analysis” capabilities to sales and marketing management for visibility to personal and non-personal promotions, account trending, specialty distribution, and product launch tracking.
Contract Analytics
As Life Sciences companies evolve to place greater focus less on personal promotion and more on leveraging the influence of managed markets, the requirement for solid contract analytic capability, especially for managed care, has become essential to commercial enterprise never been greater.
For managed care, contract analytics provide visibility to variety of performance indicators ranging from the nuances effectiveness of a single contract, to the performance effect of a strategy within a market, or to the influence of particular account, as well as insight to actual effect an account has on utilization for the managed care industry. Through integration of formulary, co-pay, and market share data, these analytics also provide formulary position comparisons and metrics that reveal the cost and true impact of a contract’s position within a market. Contract analytics also provide manufacturers with insight to price trending and rebate strategies by identifying time-based directional trends across a variety of dimensions including payer segments, markets, geographies, and plan demographics.
Leveraging its extensive knowledge of contracting processes, systems and data, the Collaborative team brings experience in recommending expertise in delivering not only the key analytics that drive contract performance, but also the visual interfaces and interaction that make them interpretable and actionable.
Commercial Operations Reporting
Effective communication channels are vital to ensuring consistent peak performance of an organization’s field sales force and corporate account teams. A cornerstone of that communications this is the periodic reporting on which commercial teams rely to identify and act on key issues and trends within their accounts and territories.
Collaborative implements reporting solutions for its Life Sciences clients that support a variety of functional areas within commercial operations. Ranging from multi-level prescription and sales reporting, account performance, regional payer trending, rebate and trending, charge back reporting, promotional spend, and campaign response tracking.
The Collaborative team brings experience and proven design patterns, enabling clients to rapidly implement reporting solutions that consolidate activity and transaction data, present it in a digestible format, and deliver it through the best suited distribution channels that are best suited to the needs of their commercial teams.
