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Medical products

Supply Chain Analytics Helps a Renowned Medical Products Manufacturer Curtail Risks Associated with the Supply of Products

The client- A renowned medical products manufacturer, Revenue- $8 billion, Area of Engagement- Supply chain management

The current healthcare industry is witnessing the proliferation of partnerships, relationships, and joint ventured initiatives to meet the growing healthcare expenditure and deliver value to the customers. Despite political uncertainties and sluggish economic growth, the medical products manufacturers are planning to invest in innovations to redefine their business models and create a value proposition for the customers. The rapid transformation in the medical products manufacturing space is fueled by the aging population, proliferation of chronic diseases, and increasing emphasis on quality of care and treatment.

Amid the rapidly changing economic conditions, small and large players have been compelled to adapt and find new opportunities for development. Let’s look at some of the factors the may influence the growth of the industry.

  • Cost of product development: The increasing complexity and sophistication of devices are further increasing the R&D expenditures, which, in turn, is increasing the cost of product development. Also, the growing demand for medical products among the consumers is increasing the need for reducing capital in the manufacturing process while negotiating on the expenses.
  • Ensuring product quality: Medical products manufacturers need to ensure that they maintain quality in their products to avoid any issues related to product recalls. For any medical products manufacturer, product recalls can have a negative impact on the brand reputation and the company’s overall bottom line performance.
  • Regulatory compliance: The growing safety standards and regulatory compliance are compelling medical products manufacturers to offer reliable and quality services to the end-users. Besides the regulatory guidelines, manufacturers of medical devices should garner government support to improve research and development and offer favorable tax reimbursements.

As medical products manufacturers are shifting from a transaction-based approach to a value-based approach that focuses on creating value for providers and practitioners, it becomes essential for the medical devices companies to go beyond the traditional business models to ensure better supply chain visibility. With the rising aging population and increasing health concerns, companies need to rely on supply chain management to grow by leaps and bounds and meet the demands of the end-user segments.QZ- Request free proposal

The Business Challenge

In 2012, the top twelve companies in the medical devices industry contributed to approximately 45% of the overall global market.

With operations becoming complicated, a renowned medical products manufacturer faced the need to increase the efficiency of their operations across the supply chain to remain competitive in the market space. With the growing concerns related to delayed shipments, inefficient plants, and inconsistent suppliers, the medical products manufacturer wanted to reduce operational costs to improve supply chain responsiveness and the product quality. In addition, the medical products manufacturer wanted to gain insights into the healthcare trends in terms of the people, processes, assets, and the entire value chain.

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The Solution Benefits and the Business Impact

Strategies that we recommend to improve supply chain visibility and ensure efficiency.

The supply chain management solution offered by Quantzig helped the medical products manufacturer gain relevant insights into the medical devices sector and the opportunities in the medical devices manufacturing space. The client was able to leverage the use of supply chain management to enhance their supply chain visibility, demand forecasting, and further improve the overall merchandising capabilities. In addition, the solution helped the client consolidate metrics into the overall supply chain to help the business optimize their networks and improve efficiency.

Supply Chain Management Predictive Insights

The client was able to gain better visibility into the supply chain process and increase efficiency, improve service levels, and reduce inventory levels. The solution offered end-to-end visibility into the supply chain from the procurement of raw materials to the distribution of medical products to the end-user segments. In the midst of the global competition, the medical products manufacturer was able to develop effective supply chain strategies and logistical capabilities to serve the needs of the customers in a timely and an efficient manner.


To know more about how our supply chain analytics solution helped the medical products manufacturer understand the trends in healthcare industry

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real world evidence analytics

Quantzig’s Real World Evidence Analytics Solutions Helped a Leading Healthcare Company to Improve Clinical Trial Efficiency and Increase Spend Effectiveness by 47%

The client is a leading healthcare company based out of the U.K that is known for providing solutions for hospital systems, ambulatory surgery centres, clinical laboratories and physician offices across the world.

Over the past few years, companies in the healthcare industry have invested considerable resources in real world evidence (RWE) analytics. Differential success rates have been observed, with little consensus on best practices or value potential. However, the most successful healthcare companies have realized substantial value across the product and drug development lifecycle through real world evidence platforms and they are poised to capture sustained value. Also, a few leading healthcare companies have broken new ground with their systematic rather than opportunistic approach to real world evidence analytics. Such healthcare industry players are implementing real world evidence analytics solutions that move beyond narrow research-based approaches to create sustained value across the product lifecycle and drug development processes.

Our real world evidence analytics experts work with your team toward bringing real-world and commercial insights into your clinical development planning process to help you make well-informed business decisions. Get in touch with them right away.

Business Challenge:

The client, a leading healthcare industry player with presence across different healthcare segments, wanted to demonstrate the comparative efficacy of its new drug in the cancer drugs segment. For this, they needed to analyze the healthcare industry segments to ensure the safety and tolerance of the drug. However, they were finding it difficult to collect and analyze the huge volume of real world data sets. This is when they approached Quantzig to leverage its expertise in offering real world data analytics solutions.

By leveraging real world evidence analytics solutions, the client wanted to establish appropriate statistical methods for analyzing real world data to avoid making inappropriate statistical inferences and regulatory decisions. Also, the healthcare company wanted to cost-effectively compare the cost efficiency and the associated benefits of its drugs against competing products offered by market leaders. Additionally, the client was facing major issues due to their inability to identify patient cohorts based on drug usage and clinical outcomes such as clinical quality measures, readmissions, and length of stay. Furthermore, with the help of real world evidence analytics solutions, the client wanted to systematically gauge its commercial spend effectiveness and product launch planning.

Quantzig’s real world evidence analytics solutions offer comprehensive insights on treatment pathways, patient adherence, disease progression, pricing levels and market access, drug safety, and patient engagement. Request a FREE proposal to gain in-depth insights.

Solutions Offered and Value Delivered:

The real world evidence analytics experts adopted a three-phase comprehensive approach to help the client understand and tackle its core business challenges. In the first phase of the real world evidence analytics engagement, the experts focused on designing and development of a real world evidence platform by leveraging off the shelf real world data. The second phase of the real world evidence analytics engagement revolved around the integration of the real world evidence platform with the clinical database. The third and the final phase of the real world evidence analytics engagement focused on improving the accuracy of the extracted real world data to enhance the product development processes.

The solution offered helped the client to respond to the safety and quality issues of their drugs in real-time. Also, the healthcare company gained a detailed insight into treatment pathways, patient care and drug effectiveness. By leveraging shared forecasting and disease progression models, the client was successfully able to leverage service planning to improve cost efficiency. Furthermore, Quantzig’s real world evidence analytics solutions helped the client to use real world data to support clinical developments, improve new product launches, and drive better commercial results through physician targeting, detailing, and other promotional activities.

Quantzig’s real world evidence analytics solutions are specifically designed to help healthcare organizations evaluate the drug treatment efficacy and cost-effectiveness of therapies. Request a FREE demo to know more.

Quantzig’s Real-World Evidence Analytics Solutions Helped the Client to:

  • Identify the right cohorts of patients for product development and clinical research
  • Determine long-term adverse drug effects, leading to better decisions about future clinical trials
  • Improve clinical trial efficiency and enhance commercial spend effectiveness by 47%

Benefits of Real World Evidence Analytics Solutions

RWETo learn more about how our real world evidence analytics solutions can help you increase clinical research efficiency and targeted plans, request for more information below.

Patient Journey

Patient Journey Analytics: Enabling Advanced and Optimized Patient Care

To stay relevant in today’s constantly evolving and competitive health care marketplace, healthcare service providers have started finding novel methods to demonstrate the value their products deliver and strive for innovation. Many healthcare companies provide excellent clinical care but fail when it comes to administrative experiences. By leveraging patient journey analytics solutions, healthcare companies can implement processes and programs that deliver relevant and timely information and fill gaps that cause leakages in the patient experience. This practice can be helpful in improving pre- and post-clinical engagement, as well as further health initiatives.

Quantzig’s patient journey analytics solutions help healthcare companies to reduce the cost of care and gain a competitive advantage in the market. Request a FREE proposal to gain detailed insights into our complete portfolio of analytics services.

We at Quantzig, understand the predicaments healthcare companies face while streamlining patient experience. And for over 15 years, we have helped numerous companies overcome market challenges by leveraging our industry-leading data modeling and analytics capabilities. In this article, our experts have highlighted the key benefits of patient journey analytics to help healthcare organizations drive excellence and identify indicators that may result in churn.

Benefits of Patient Journey Analytics

Benefit #1: Helps in stopping care silos

Every healthcare company has blind spots that can occur anywhere, right from appointment scheduling to point-of-care to discharge and follow-ups. Patient journey analytics helps in mapping the workflow of the organization that makes loopholes in the patient care more visible. By identifying such blind spots, healthcare organizations can avoid risks or negative patient experiences in some cases.

Whether you are a part of the marketing, product development, or customer experience team at a hospital, a pharma company, or a health insurer, patient journey analytics should be part of your toolbox for customer research. If you would like to learn more about customer journey analytics, get in touch with our experts today.

Benefit #2: Unveils pain points in patient’s journey

Patient journey analytics can unveil various pain points along the patient journey. Gaining a better understanding of the different pain points that a patient has within the journey can help healthcare organizations to create an opportunity for improvements in operations and keep a track of the patient flow. Furthermore, this can aid in advanced and optimized patient care.

Benefit #3: Make an emotional connect with patients

By leveraging patient journey analytics, healthcare service providers can better understand the patient journey. This can allow them to better empathize with the patients. Patient journey mapping can illuminate the emotion of an encounter and highlight the feeling of the patient about a specific interaction. Such insights help organizations to understand better how to connect with patients on an emotional level to meet their requirements.

Our analytics solutions provide best-in-class frameworks to assist healthcare organizations to get maximum sales and insights out of every customer relationship and interaction. Request a FREE demo below to know more.

Read our latest success story to know how our patient journey analytics solutions helped a Denmark based pharma company to identify the most effective drug and treatment pattern based on patient characteristics.  

Revolutionizing Drug Development and Patient Care Using Patient Journey Analytics – A Customer Success Story

US healthcare industry

Devising a Configurable Data Model for a Leading Player in the US Healthcare Industry | Quantzig’s New Success Story

The client is a leading player in the US healthcare industry, specializing in offering diagnostic imaging services that assist patients and physicians in making data-driven decisions to improve business outcomes.

The US healthcare industry today comprises of several healthcare service providers and medical councils that focus on offering value-driven patient care. This has resulted in the generation of huge volumes of data sets that cover different aspects of business operations. Also, the US healthcare industry is fast transforming, driven by the aging population and rising costs of healthcare services.

Several such factors have provoked players in the US healthcare industry to adopt leaner business models, one which adapts to the fluctuating healthcare market trends and technological advancements. To do so, healthcare service providers in the US healthcare industry are now focusing on offering personalized services, while also analyzing the health of the global population to proactively respond to the changes in market dynamics. However, it’s crucial to note that these objectives can be met only by leveraging advanced predictive analytics to assess patient data.

Our advanced analytics capabilities help US healthcare industry players in accurate decision making and execution. Request a FREE proposal now to gain in-depth insights into our portfolio of advanced analytics solutions.

US Healthcare Industry

Business Challenge

Though our client had access to troves of patient data, it’s open-ended, unstructured nature posed numerous challenges that prevented them from producing viable business outcomes. Other factors like lack of analytics expertise, cost management, and lack of access to relevant technologies further restrained them from maximizing data utilization.

This is when the US healthcare industry player decided upon replacing their existing data management system with an advanced analytics-driven system that could help them analyze complex patient data sets in real-time. They collaborated with Quantzig to devise an advanced data management framework, given its strong expertise across healthcare workflows, data mining, big data processing, and predictive analytics use cases in healthcare.

Big Data and Analytics

Solution Offered and Value Delivered

The US healthcare industry client was looking at leveraging Quantzig’s expertise in offering advanced analytics solutions to make better healthcare decisions and drive business outcomes through the implementation of a robust data management system.

To help the client tackle their challenges, we put together a team of analytics experts and big data professionals who performed an in-depth analysis of their existing data management framework and assessed the changing landscape of the US healthcare industry. Based on the analysis, our experts designed an advanced analytics-based solution using MapReduce algorithms and big data technologies. This, in turn, helped the client to develop a robust data model to integrate and analyze healthcare data.

US Healthcare Industry: What’s in store for 2019?

US healthcare industry

Quantzig’s customized analytics solutions have aided leading players in the US healthcare industry to identify issues and replicate successful deployments across different parts of the organization. Get in touch for in-depth insights.

Business Outcome

By partnering with Quantzig, the client was able to:

  • Leverage our big data expertise to build a configurable data model capable of processing high volumes of data
  • Reduce the dependency on legacy systems and build a data repository model with standardized data
  • Leverage BI tools and advanced analytics to generate powerful reports with rich visualizations
  • Analyze key big data processing and advanced analytics use cases such as health reporting and point of care decision support

Recent Posts

medtech companies

Factors Behind Canada’s Healthcare Crisis – Everything You Need to Know

The Canadian healthcare system is complex, but it’s built on the basic principle that focuses on providing healthcare access based on need rather than the ability to pay. The Canadian healthcare system deploys decentralized administration and service delivery systems that are accessible to all groups of people. However, despite the pros like universal accessibility and special care for special needs, the Canadian healthcare system is facing several obstacles due to changing healthcare landscape in the ageing society. In this article, our healthcare industry experts have highlighted a few critical challenges facing the Canadian healthcare system that healthcare companies must not overlook.

Quantzig’s real-world evidence-based solutions help healthcare companies with comprehensive insights into treatment pathways, patient adherence, and disease progression. Request a FREE proposal to gain better insights into our portfolio of healthcare services.

Challenges Facing the Canadian Healthcare System

Long waiting periods

Owing to the universal accessibility of the Canadian healthcare system, the number of patients is always high leading to an increase in wait times. Canadians mostly have timely access to world-class care for chronic problems like heart attacks, strokes and cancer care. But for many problems that are not urgent, they typically wait as long as many months or even years. For example, patients who need replacements of hip or knee, shoulder or ankle surgery, cataract surgery or a visit with a specialist for a consultation tend to wait for a longer period of time than recommended. At times, this becomes frustrating and can make a non-emergency situation life-threatening due to negligence and delay. Therefore, policymakers, as well as the management, should look at ways to do away with such long waiting periods.

Wondering how to improve healthcare decision-making and design initiatives to promote superior services? Our healthcare analytics solutions can help. Get in touch with experts right away.

Unrealistic fees

Healthcare providers are mandated by law to charge a certain fee or amount of money for specific treatments and medical interventions. Unless the fees are practical and they ensure that the healthcare providers can keep operating, the Canadian Medicare system will remain flawed. Most welfare schemes end up burdening the average taxpayer. However, healthcare players bear the brunt of the financial fallout with low fees which is unviable in the long run.

Our healthcare analytics solutions are specifically designed to help healthcare companies evaluate the drug treatment efficacy and cost-effectiveness of therapies to complement clinical trial outcomes. Request a FREE demo below to know more.

Accessibility in rural areas

Basically, the funding of the Canadian healthcare system is done based on the location and the demographics. Cities and towns that are more populated get adequate funding, but sparsely populated regions get fewer funds. Due to the scarcity of funds, the scope of growth and development is confined. As a result, people living in rural areas travel to cities for adequate healthcare. Several complicated health conditions cannot be attended to by rural healthcare providers and the pace at which the rural healthcare scenario is changing is not encouraging either.

Want to learn more about the challenges that the Canadian healthcare system is facing? Request for more information now!

US Healthcare Industry

Predictive Analytics in Healthcare: Benefits and Challenges

The healthcare industry is going through transformations as it moves from a volume-based business to a value-added business. Organizations in the healthcare industry are facing the heat to provide value-based care with optimum outcomes to the patients. With the huge influx of data in the healthcare systems, it is really becoming very difficult for healthcare organizations to draw meaningful insights from it and utilize it to treat patients and improve the quality of services. This is where predictive analytics in healthcare comes into the picture. Also, with the emergence of value-based reimbursement, many healthcare systems have now realized the importance of predictive analytics in healthcare. It has become an important key to manage population health and deliver care more cost-effectively. At the same time, it helps healthcare organizations in reducing readmission rates and predict different types of healthcare trends. In this article, our team of healthcare analytics experts has highlighted a few benefits of predictive analytics in healthcare. Also, they have discussed the challenges that healthcare organizations face in implementing predictive analytics in healthcare.

Request for more information below to know how our predictive analytics solutions can help you improve clinical trials and interpret patient data accurately.

Benefits of Predictive Analytics in Healthcare

Benefit #1: Predictive analytics in healthcare can increase the accuracy of diagnoses

By leveraging predictive analytics solutions, physicians can utilize predictive algorithms to make more accurate diagnoses. Predictive modeling and machine learning can provide real-time information to doctors that can fuel the accuracy of predictions and can lead to better patient outcomes. Also, with the use of predictive analytics in healthcare, multiple datasets from hundreds of patients can be analyzed to build tools that find patterns in patient journeys to facilitate early diagnosis and predict negative outcomes. Furthermore, predictive analytics solutions can help in monitoring diagnosed patients and assessing how their disease status progresses in real-time. Such alerts can facilitate early intervention that can make a real difference in helping a patient avoid complications or long-term physical damage.

Benefit #2: Predictive analytics will help preventive medicine and public health

Predictive analytics in healthcare facilitates early intervention that can help in the prevention or amelioration of many chronic diseases. Predictive modeling, particularly within the realm of genomics, can also help primary care physicians to identify at-risk patients within their practice. With that knowledge, patients can be advised to make changes in their lifestyle to avoid future risks or complications. Also, predictive analytics solutions help to develop a profile for patients at risk of substance abuse and help providers anticipate how their prescription decisions might affect those patients.

Are you finding it difficult to reap clinical and financial rewards from predictive analytics? We can help. Get in touch with our experts now.

Benefit #3: Predictive analytics can provide employers and hospitals with predictions concerning insurance product costs

Healthcare organizations providing healthcare benefits to employees can input characteristics of their workforce into a predictive analytic algorithm to predict future medical costs. Such predictions can be based upon the own data of the organization or the organization may even collaborate with insurance providers to generate the predictive algorithms. Furthermore, healthcare organizations working with insurance providers can synchronize databases and actuarial tables to build predictive models and subsequent health plans. Organizations might also use predictive analytics in healthcare to determine which providers may give them the most effective products for their specific needs.

Our advanced analytics solutions help healthcare organizations to improve patient outcomes and reduce the cost of care. Want to know how? Request a FREE proposal now.

Challenges in the implementation of predictive analytics in healthcare

Challenge #1: Developing a comprehensive patient profile

Most healthcare providers already possess the data assets of their patients that are required to build a predictive model. But utilizing such information can certainly be a challenge. The difficulty increases even more when patients move between providers, health systems, or even geographical regions. As a result, healthcare organizations find it difficult to map the profile of such patients. Therefore, implementing predicting analytics solutions becomes challenging.

Challenge #2: The challenge of clinical application

As predictive analytics in healthcare has become increasingly available for real-world applications, healthcare professionals diagnosing and treating patients encounter multiple data elements apart from classical clinical data. When new data is added into the patient narrative, this information needs to be put into a framework that physicians can understand and recognize as credible. Therefore, it is important that an alert not only states that a patient likely has a certain disease, but also includes a detailed rationale as to why the analysis is making a specific prediction.

Challenge #3: Data aggregation challenges

Data of patients are often spread across many file cabinets, servers, hospitals, and government agencies. Pulling all these data together and collaborating them all for the use in the future requires a lot of planning. Every participating organization must agree and understand upon the types and formats of big data they intend to analyze.  Also, the quality and accuracy of such data of patients need to be established. This requires not only data cleansing but also a review of data governance processes.

Request a FREE demo below to know how our healthcare analytics dashboards can help you identify at-risk patients and achieve desired outcomes.

real world evidence

Real World Evidence Analytics Engagement: Helping a Leading Healthcare Service Provider to Reduce Costs and Improve the Efficiency of Clinical Trials

The Business Challenge:

Real world evidence (RWE) studies have unearthed innumerable opportunities for market expansion. However, companies in the healthcare sector are expected to encounter several predicaments in the years to come that includes policy and regulatory issues, challenges arising due to technological advancements and product development challenges in clinical trial segments. Such challenges continue to loom over the global healthcare industry, but the research says that by applying real world evidence systematically healthcare companies can realize billions in reducing the cost of care across different segments of the healthcare industry. Real world evidence can play a crucial role in designing and implementation of value-based contracts and can provide valuable inputs to ensure the alignments of risk from all sides and track patient outcomes. Additionally, real world evidence has the potential to bring transparency and objectivity into the healthcare programs and can help break through various healthcare barriers existing today.

The client is a leading healthcare service provider based out of the United Kingdom. The healthcare service provider is well-known for offering the highest quality of innovative patient care, with several healthcare centers spread across Scotland and Northern Ireland. The client was looking for suitable methods to counter the rising costs in managing the avalanche of data. Also, with clinical trials getting more complicated, they were looking for solutions to maintain electronic health records and validate the patient data in real time.

Real world data analytics has the potential to extract insights from disparate data sources and transform healthcare ecosystem. Want to know how? Get in touch with our experts now.

Solutions Offered and Value Delivered:

Quantzig’s real world evidence analytics solutions helped the client to understand two critical imperatives that are driving healthcare transformation namely, cost control and improvements in clinical trials. This helped the client to proactively examine the safety, efficacy, and ethics of their clinical trials. Also, our experts successfully delivered detailed insights into treatment pathways and pricing levels by developing a customized real world evidence platform and integrating it with the clinical database. With such in-depth insights, the healthcare industry player was able to adopt a business model that helped them experience a significant reduction in the cost and improvement in the efficiency of their clinical trials in the span of less than two weeks. Application of real-world data analytics helped the client to:

  • Link patient and clinical data across disparate sources
  • Satisfy customer demands for cost-effective healthcare services
  • Accelerate time to market by 16% through a constructive marketing strategy

Our real evidence analytics solutions offer real-time feedback to healthcare companies and help them identify potential development areas. Request a FREE proposal to know more about our portfolio of services.

real evidence

Benefits of Real World Evidence Analytics

#1. Determine outcomes based on larger data sets

Real world evidence makes use of the medical data gathered from a variety of patients in real time. These data sources vary from electronic health records to social media and blogs. RWE provides an accurate data analysis that can help healthcare companies in deriving better conclusions and ascertain the effectiveness and ROI of healthcare services offered. 

#2. Improves the efficiency of clinical trials and reduces cost

Irrelevant datasets can lead to misleading results and can result in lesser reliability of clinical drug trials. This can further increase the cost of research and development. But by leveraging real world evidence analytics solutions, multiple sources of data can be integrated to determine actual patient outcomes. This can further help in deciding whether a clinical trial design will give meaningful results and will be cost effective.

#3. Respond faster to adverse healthcare developments

Real world evidence analytics helps in collecting post-trial information about a drug in real time. This can help healthcare providers to quickly identify negative reactions, side-effects, and medication errors, thereby restricting potential harm. Furthermore, the gathered information can also facilitate recommendations of medications based on the symptoms of the disease and the status of patient health.

Our customized real-world evidence platform can help you bridge the gap between technology and end-users to optimize patient empowerment. Request a FREE demo below to know more.

#4. Personalize drug treatments

Real world study helps in scouring a large number of patient records and tracking patients in real time. It helps in finding patients who can most benefit from a specific medicine due to various factors like their genetics and particulars of their illness. Furthermore, the real-world application can also identify potential side-effects and can help healthcare providers to offer personalized drug treatments.

#5. Identify potential markets and underserved patients

Real world evidence analytics provides population data based on disease trends and medical outcomes. This can help pharmaceutical companies gain insights into patterns of treatment, epidemiological trends, adherence of patient and can offer disease management opportunities. This can be further used to identify potential markets and develop new products and therapies for which market demand is really high.

Why Quantzig?

Quantzig has a team of experts that comprises data scientists and real world evidence experts who focus on real world data analysis and implement evidence-based approaches to tackle healthcare challenges. Our team of analysts works closely within a cross-functional team to guide clients efficiently deal with large real-world databases and identify various risk factors and evaluate the drug treatment efficacy to complement clinical trial outcomes. Quantzig also has the expertise in offering a wide range of analytic solutions that can help tackle a plethora of challenges faced by companies in the healthcare sector, including risk management, and patient-centric issues.

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