Quantzig’s Real World Evidence Analytics Solutions Helped a German Pharmaceutical Company Reduce Sampling Costs and Increase Sales by 17%
“By leveraging Quantzig’s real world evidence analytics solutions we were able to interpret data from patient records, clinical trials, and drug discovery, and treatment outcomes and gained a better understanding of disease progression patterns, resource usage, and treatment pathways.” About the Client The client is a leading pharmaceutical industry player based out of Germany having [...]READ MORE >>
“By leveraging Quantzig’s real world evidence analytics solutions we were able to interpret data from patient records, clinical trials, and drug discovery, and treatment outcomes and gained a better understanding of disease progression patterns, resource usage, and treatment pathways.”
About the Client
The client is a leading pharmaceutical industry player based out of Germany having more than €500 million annual turnover. The company has more than 5 years of patients CDR and claims repository.
The Business Challenge
A leading pharmaceutical manufacturer in Germany, focusing on a broad range of products with a challenging drug-delivery mechanism and delivered mainly through agreements with third parties, wanted to improve the existing market share of their drugs. The client faced stiff competition in the market and needed to improve their reach and marketing strategy to ensure that the physicians prescribe their brand. They did not have a sample allocation strategy to generate incremental sales and higher returns on investment. As such, there was a need to implement a more targeted approach, based on the insights from the physician’s prescription behavior. There was also a need to assess the short-term and long-term impact of marketing and do a root cause analysis to understand the underlying behavior for physicians who were prescribing their brand.
Companies in the pharmaceutical industry can leverage Quantzig’s real world evidence solutions to gain comprehensive insights into treatment pathways, patient adherence, disease progression, drug safety, and patient engagement. Request a free brochure of our analytics solution right away!
Based on the business requirements, the client collaborated with Quantzig to leverage its expertise in offering real world evidence analytics solutions to help them develop a solution for targeting physicians based on their prescription propensity and optimize the sample allocation strategy.
Solution Offered and Value Delivered
Quantzig’s real world evidence analytics solutions are specifically designed to help healthcare organizations evaluate drug treatment efficacy and cost-effectiveness of therapies to complement clinical trial outcomes using data sources such as claims history, electronic medical records, patient demographics, and social media information. Our real world evidence analytics experts work in collaboration with organizations towards bringing real-world and commercial insights into their clinical development planning process to help them make well-informed and confident business decisions.
Real world evidence analytics experts adopted a three-step analytics approach to help the client tackle their core business challenge.
The first phase of the real world evidence analytics solution focused on data acquisition and parsing of diverse data sets to analyze TRx and NRx trends. This helped them gain detailed insights into the market share of the brand as well as that of their competitors’ market share.
In the second phase, real world analytics experts focused on re-allocating the samples based on prescribing patterns and predicted behavior, using Partially Observable Markov Decision Process (POMDP).
In the third phase of this real world evidence analytics engagement, our experts devised customized dashboards to provide real-time updates and insights on brand, representative and physician performance.
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Quantzig’s real world evidence solutions also helped the client to better understand the impact of sample allocation in different scenarios and identify key reasons for inappropriate sample distribution across states based on data visualizations in real-time. Also, the real world evidence analytics solutions had the following impact:
- Sales increased by 17%
- Sampling cost reduced by more than 51%
- There was 3X improvement in physician satisfaction
- Sales effectiveness improved based on actionable insights offered on sales growth opportunities
Learn more about how our real world evidence analytics solutions can help you achieve desired business outcomes in the pharmaceutical industry.