Tag: healthcare industry

Customer lifetime value helps a healthcare client to estimate the net profit

The Business Challenge

Customers remain an indispensable part of the sustenance of any organization. Every organization in the healthcare landscape wants to derive insights on the same general question: How to effectively retain profitable customers?

A renowned healthcare industry client wanted to identify the market landscape in terms of the most valuable and the least profitable customers. The process of identifying the right customers was time-consuming and imprecise. As a result, the client approached Quantzig’s team of customer lifetime value experts to devise an appropriate customer-specific marketing strategy.

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Solution Delivered

After a robust engagement, the healthcare industry client was able to effectively analyze customer behavior to outdistance competitors. The engagement helped the client segment the customers in terms of customer value, expected value, and loyalty, and maintain a long-term relationship with customers’. Also, the healthcare industry client was further able to predict the probability of customer churn and future purchase services. Through the customer lifetime value assessment, the client effectively gauged through the customer’s data and was able to predict the future behavior of the customers.

Future of Healthcare Industry

Globally, the healthcare industry is shifting to a more sophisticated patient-driven environment to target profitable customers and maintain an effective long-term relationship. Also, organizations in the healthcare industry are relying on customer lifetime value to manage and delight customers and provide robust services to these target customer segments. In fact, leveraging the use of customer lifetime value helps organizations in the healthcare industry space to assess the value of customers, customize strategies, and better devise acquisition and retention processes. Moreover, devising customer lifetime value modeling can help a company in the medical industry optimize its marketing spend; thereby, increasing their ROI.

In the healthcare industry, customer lifetime value is considered from the patient’s perspective, in terms of effectively managing financial resources, better patient satisfaction, and better acquisition and retention practices. Patients’ of today are more informed and are increasingly aware of their treatments, the alternative medicines, and the severity of their cRequest Proposalonditions. Customer lifetime value helps in analyzing the value of patients over the course of his/her life.

With years of expertise in offering solutions, Quantzig’s team of customer lifetime value experts help the client look for patients who are on the verge of leveraging medical procedures for their effective treatments. Healthcare industry players can further optimize the use of predictive algorithms to determine the probability of health care needs among large sets of the population.

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Patient Engagement Analytics Helps Healthcare Industry Client to Achieve Shared Savings

In today’s patient-centric environment, managing the population of patients has become an indispensable part of the healthcare industry. Leading organizations in the healthcare industry are leveraging the use of patient engagement analytics to deliver utmost patient satisfaction while maximizing ROI. Patient engagement analytics helps organizations gauge through the vast array of patient data to effectively assess self-pay costs and generate precise and timely billing. Moreover, businesses in the healthcare industry can further maximize the use of patient engagement analytics to gain real-time analytics on patient registration and payment clearance processes. Moreover, patient engagement analytics also helps businesses accurately estimate the patient cost and increase employee retention. Through robust patient engagement analytics, organizations can target the right individuals, with the right information, and at the right time.

Quantzig’s team of patient engagement analytics experts helps the client devise effective strategies to identify the real opportunities in the healthcare industry. The engagement also assists the client to understand the compliance issues prevailing in the healthcare industry and implement effective strategies to facilitate cost savings.

The Business ChallengeQZ_DEMO

As the healthcare industry is nearing its saturation with numerous competitors offerings products at reasonable costs, a leading healthcare provider was facing a predicament in achieving shared savings. In the initial days, the client witnessed an unprecedented surge in their market shares, but eventually the client saw a dip in their market shares due to the entry of new players in the market. The client further wanted to leverage the use of patient engagement analytics to gain real-time analytics information about the patients and patient satisfaction. The primary objective of the engagement was to accurately estimate patient costs to improve pre-service collections.

Our Approach

To gain actionable insights into the patient engagement, the client approached Quantzig’s team of patient engagement experts. Quantzig’s team of patient engagement experts created a dashboard to compile information across a variety of sources. Also, to increase revenues and savings, the client further carried out extensive research with leading stakeholders in the healthcare industry.

Patient engagement

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Patient Engagement Analytics Benefits Solution:

  • Accurately estimate patient cost and other costs associated with patient engagement
  • Stratify patient populations and proactively identify individual needs
  • Allows physicians to concentrate on improving lives, quality, and outcomes
  • Effectively improve care, health of populations, and reduce per capita costs
  • Gain better insights into patient engagement issues and better target resources

Patient Engagement Analytics Predictive Insights:

  • Identify individuals with chronic illness and ensure they are receiving the information to stay healthy
  • Leverage the use of health records data to predict future health problems
  • Devise effective tools to reduce the risk for patients
  • Deliver personalized messages to patients and assess individuals’ patient’s journey
  • Improve engagement and reduce risks associated with the non-compliance of treatment plans
  • Collect patient data from multitude of resources such as health records, demographics, and consumer behavior

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Salesforce Analytics for a Urology Devices Supplier Helps Connect with Dealers Across the Globe

The medical device industry is fiercely competitive owing to the presence of competitors looking to drive profitable growth, share, and competitive advantage over their counterparts. The rapidly changing market space is compelling leading brands and companies to stay ahead of the competition and optimize their sales model through the right channel to target more profitable segments. Leading organizations are actively implementing salesforce analytics to shift from a silo-based planning to develop robust marketing plans to gain incremental benefits. In the medical device industry, implementing salesforce analytics helps manufacturers respond effectively to pressures from customers and competitors while maintaining greater visibility and control over the salesforce. Also, manufacturers can leverage the use of analytics to classify and target customers, their attributes, in turn, promising better ROI.

Quantzig’s salesforce analytics solution assists the client to target the potential dealers that are promoting urological devices across the globe. The client will be further able to segment the dealers based on their offerings and marketing strategies to attract new customer segments. Moreover, the salesforce analytics solution also helps the client identify the niche segments and devise effective strategies to effectively position their products.

The Business ChallengeQZ_DEMO

The medical devices landscape is sophisticated with companies offering a multitude of products. Like all other suppliers in the medical equipment space, a leading urology devices supplier was facing predicaments in connecting with dealers in the medical device industry. The client wanted to maintain a robust relationship with dealers to enhance their sales and product offerings in the urology devices market space. The client further wanted to understand the current demand for their products and maintain dealership with top dealers in the medical device industry to improve their product offerings.

The primary objective of the engagement was to leverage the use of salesforce analytics to understand the potential dealers in the medical devices marketplace. The client also wanted to assess the sales patterns of dealers and make informed business decisions.

Our Approach

To connect with the potential dealers in the medical device industry, the client approached Quantzig’s team of salesforce analytics experts. Quantzig’s team of experts carried out a blended approach comprising of interviews and discussions with physicians and customers in the urology devices market. Also, our experts created a dashboard comprising information from a variety of proprietary sources to identify the potential dealers in the urology devices market.


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Salesforce Analytics Solutions Benefits for the Medical Device Industry:

  • Allocate the right representatives, target the right customers, and design the right territories
  • Bolster sales-performance, sell products, and drive revenue
  • Efficiently identify and meet the unique needs of the customers
  • Understand customer segments and effectively manage them over time
  • Optimize the distribution of sales resources by units and geography

Salesforce Analytics Predictive Insights in the Medical Device Industry:

  • Comprehensively analyze and manage sales performance
  • Identify the root causes for performance challenges
  • Benchmark performance across geographical regions and project future performance
  • Deduce modifications for optimizations
  • Minimize the allocation of resources and ensure better ROI

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Budget Impact Analysis Assists a Leading Pharmaceutical Provider to Improve Budget Impact by 50%

The recent financial pressure on the healthcare industry has led to a major concern for the stakeholders; leaving pharmaceutical, medical device, and diagnostic firms in a dilemma to seek ways to present the real value of their products. To better understand the value of their products, organizations need to carry out a robust budget impact analysis. A budget impact analysis allows organizations to determine the financial impact of new products on the budgets of healthcare-decision makers. It also allows organizations to manipulate the market share of treatments for certain conditions. Consequently, budget impact analysis finds application in assessing a product’s affordability and for the reallocation of resources, understanding of trade-offs for new products, as well as budget planning and forecasting. In the pharmaceutical sector, budget impact analysis helps organizations build arguments for the adoption of the new product.

Quantzig’s budget impact analysis solution helps the client understand the use of the application, which is relevant to a particular payer’s healthcare environment. Also, Quantzig provides interactive dashboards to provide real-time statistics regarding the healthcare environment such as health systems population and hospital resources.

The Business ChallengeQZ_DEMO

A leading pharma manufacturer in Europe wanted to assess the budget impact of vaccinations using different vaccines. Like all other companies in the pharma landscape, the client wanted to evaluate the best vaccination strategy that is available in the manufacturing landscape. Also, the client wanted to quantify the health and budget impact of vaccination strategies for pneumonia in adults. Since the prevalence of vaccination is increasing in the market, the client wanted to carry out a deep-dive assessment to analyze the impact of two types of vaccines. This identification process will help draw a conclusion in terms of better vaccines and the most cost-effective method of treatment.

The primary objective of the study was to understand the performance of vaccines on individuals as compared to ideal settings using the real-world data. Consequently, the client also wanted to analyze the health outcomes under different vaccination scenarios and the associated budget impact.

Our Approach

With years of expertise in offering the best-in class analytical services, Quantzig’s team of experts carried out an in-depth strategy for vaccinations independently. The experts were very certain of not performing back calculations to curtail the chances of underestimation in the number of cases with illness.

To derive better clarity, the budget’s impact was assessed for each scenario using clinical, demographic, and cost parameters to identify the most cost-effective treatment method. The key highlight of Quantzig’s solution was the formulating a population based “Markov Model” to predict if the adults who were at-risk should be vaccinated or remain unvaccinated.

budget impact analysis

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Budget Impact Modeling Solution Benefits

  • Vaccination of separate set of individuals with Type 1 and Type 2 showed a decrease in cases of pneumonia
  • Vaccination with Type 2 showed less favorable as compared to vaccination with Type 1 based on demographic and clinical characteristics
  • The vaccination with Type 2 is associated with higher costs as compared to the counterparts
  • A detailed sensitivity analysis was carried out for all scenarios with variations in the price of vaccines and other risk factors
  • The budget impact analysis also proved that the use of Type 1 and Type 2 vaccinations in combination was better than Type 2 alone, and had a reduced budget impact

Budget Impact Modeling Predictive Insights

  • Created an interactive dashboard to visualize patient engagement rates
  • The descriptive dashboard also covered different patient profiles based on demography, vaccine administered and the costs incurred
  • Visualized different scenarios and costs associated with the same for budget impact analysis and ease of comparison
  • Improved budget impact by 50%
  • Assessed health outcomes based on scenario analysis
  • Carried out vaccination strategy based on the analysis of the population group

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Big Data Analytics Accelerates Growth in the Healthcare Industry

Big data refers to the large amount of data generated from several internal and external sources that help businesses to gauge market trends and gain customer insights. Big data analytics has revolutionized the way industries operaanalystte, including the healthcare industry. Big data and analytics are making the world a better place by assisting organizations to drive efficiency and productivity. Companies are increasingly turning to big data analytics technologies to analyze the information and gain strategic market insights. Big data analytics has helped healthcare companies to improve profitability, reduce wastage, predict epidemics and prevent deaths. Through big data analytics, healthcare service providers can understand patient’s needs and devise treatment delivery plans accordingly.

Big Data Analytics Trends in Healthcare

The healthcare companies are capturing value and developing strategies with the help of big data analytics to achieve their objective of improving patient treatment outcomes. Big data can prove to be beneficial to the stakeholders in the healthcare industry if they focus on minimizing health care spending and medical outcomes by undertaking a patient centric approach to create value. Let’s have a look at the major big data analytics trends in healthcare industry.

  • The worldwide adoption of electronic health records (EHR) by healthcare service providers to understand the patient patterns and medical history has improved operational efficiency and patient care
  • Big data and analytics helps the hospital staff to streamline their operations and increase their work efficiency by using sensors that monitor patients’ blood pressure levels, heartbeat, and respiratory rate to detect changes
  • Big data is used across organizations to gain healthcare intelligence that helps hospitals and providers to devise strategies to help them gain a competitive advantage by developing patient centric solutions.
  • It also enables healthcare organizations in smooth administration, preventing human errors, and keeping track of patient prescriptions. Big data analytics also helps insurance companies to prevent false insurance claims and eliminates fraudulent practices

However, at present, big data in healthcare is at a nascent stage and faces two major challenges. Firstly, it lacks the technical expertise that is required to leverage the benefits of big data analytics and secondly, the healthcare industry lacks an integrated and strong security infrastructure to protect patient data. But apart from these roadblocks, big data analytics is here to stay and is the next big thing in the global healthcare industry.

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Big Data Analytics in Healthcare: Data, Math, and Number to Provide a Better Healthcare

Big data analytics has been the most trending topic in recent years due to its ability to drive efficiency andGet in touch productivity in its application areas. The rising expenditure on healthcare has urged the medical industry to make the best use of big data analytics to provide qualitative and affordable health care. The digitization of healthcare records across various countries has helped provide quality inputs for big data analytics to generate meaningful insights in the healthcare sectors. There are numerous ways in which big data analytics has been helping the healthcare industry attain maximum efficiency.

Move Towards Value Based Healthcare

In some parts of the world, insurance companies have revised their reimbursement model from fee-for-service to value based healthcare compensation to prioritize outcomes. Value based healthcare compensation compels the medical professionals to improve the quality of service. Big data analytics outlines the compensation model by pointing out clinical inefficiencies, identify at-risk patient population, and incorporating quality reporting program.

The Healthcare Internet of Things (IoT)

Patient monitoring devices and medical wearables such as pacemakers, heart rate monitors, glucose monitors, and electrocardiograms record detailed data relating to the patient’s health, which is then analyzed during a physician visit. But with the use of big data analytics, these machines can communicate with each other to refine this process. It assists the healthcare practitioners to remotely monitor patient’s health, activity levels, and reactions to treatments and provide solutions using telemedicine.

Predictive Analytics to Drive Outcome Efficiency

Adoption of Electronic Health Data (EDH) makes it possible to capture a large amount of structured and unstructured data, ranging from patient’s health to healthcare facilities. For example, by considering historical medical admissions and recent trends, the algorithm can predict the future medical admissions so that hospitals can efficiently allocate resources and personnel. Predictive analytics uses various prediction models to prioritize clinical workflow, reduce system waste, increase diagnosis accuracy, and improve patient treatment outcomes.

Precision Medicine for Better Treatment

The majority of the traditional medicines are sometimes ineffective due to differences between an individual’s genomes, proteome, and body flora. Big data analytics is changing the way treatment trials are being administered due to growing popularity of personalized medicines which can reduce cost and improve outcome.

Reduction of Fraud, Waste, and Abuse

Fraud, waste, and abuse of medicines and medical facilities are costing healthcare end users millions of dollars. Big data analytics can be used along with various machine learning algorithms and predictive models to dwell through a large set of historical data and detect anomalies and patterns. The trigger of a particular kind of event in itself may not mean a lot, but a particular combination such as frequent doctor visits, multiple conditions, specific zip code, and individual prescription could signal a possible case of abuse.

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Supply Chain Analytics Reduces Inventory Costs for an Established Healthcare Provider

Pharmaceutical companies face intense competition from both domestic and global players and are under tremendous pressure to revamp their supply chains and operations efficiency. Outdated IT systems and infrastructure cause lack of visibility into inventory and distribution processes. Also, due to a fragmented sourcing process, the overhead costs for inventory are higher than expected. The expired patent protection on products has led to excessive inventory, and the industry is looking for every possible opportunity to improve the efficiency of their supply chain system.

The government involvement and FDA approvals in the healthcare industry have changed the dynamics of the pharma industry. The pharma executives have realized the need to optimize their supply chain functions and enable them to manage market pressure. Quantzig’s supply chain analytics engagement enables inbound supply chain visibility for cost reduction, inventory optimization, and improved supply chain planning. The study also offers insights on cost optimization, efficient inventory and distribution management, and better supply chain visibility.

The Business Challenge

An established healthcare provider in the US, owning a chain of hospitals spread across 15 states, had a fragmented supply chain with hospitals operating independently from each other. Due to outdated IT systems and infrastructure, there was a lack of visibility into inventory and distribution process. The client approached Quantzig to perform a supply chain analytics assessment for cost optimization, efficient inventory and distribution management, and better supply chain visibility.

Our Approach

By diving deep into various supplier profiles, order history, invoices, inbound logistic data, inventory data, and operations data, the analysts extracted data for the supply chain analytics study. With the collated data, the team identified SLA deviations across different inbound delivery stages and inventory levels at various facilities. The analytics team calculated the costs incurred across departments and medical supplies.


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Supply Chain Analytics Key Findings

  • Integrated their internal data with purchasing and requisition systems
  • Streamlined the order processing to enabled easier access to valuable supply chain information
  • Improved inventory management across central and regional warehouses
  • Effectively managed safety stock levels for critical SKUs and supply chain costs

Predictive Insights from the Supply Chain Analytics

  • Improved the existing integrated delivery networks
  • Based on supplier performance, helped negotiate better long-term contractual agreements
  • Monitored the delivery times of materials from suppliers to out-patients for cost reimbursements
  • Tracking and update of data based on supply chain monitoring
  • Improvement in the Administrative Cost Savings and reduction in inventory replenishment cycle time

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Analytics for Commercial Excellence in Healthcare Industry – Vision 2020: A Webinar on 21st and 22nd June

Pharma majors have come to terms with the fact that traditional commercial models have turned obsolete when it comes to leveraging market dynamics to their advantage. With intense top/ bottom line pressure, there is a growing demand for innovative commercial models, like data analytics, which will help enhance marketing and sales strategy, along with customer responsiveness.

Quantzig’s webinar on how analytics will drive commercial excellence in the healthcare industry


Optimizing marketing investments, improving conversions, and addressing the latent needs of the customers are few of the major challenges faced by healthcare and pharma companies. Generally conservative in nature, this industry has opened to the sophisticated insights and solutions provided by analytics. Though still in a nascent stage, data analytics facilitate better performance management and boosts sales. The data collected from the internal and the external sources play critical role in developing long-term and sustainable business models for players in this healthcare sector.

The 45-minute webinar on the 21st and 22nd of June, envisions the application of analytics for commercial excellence in the healthcare industry by the year 2020. The webinar also addressed the following aspects of the healthcare and pharma industry:

  • Current challenges and new commercial models to maximize sales and marketing effectiveness
  • Transition from basic to advanced data analytics driven commercial excellence
  • Rising prominence of digital analytics in commercial excellence
  • The way forward for commercial operations organizations


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Speaker Profile

Aviral is Analytics Services Leader at Quantzig. He has more than 5 years of cumulative experience across multiple types of analytics engagements including advanced customer and marketing analytics, pricing optimization, market mix modelling, forecasting and BI solutions. Aviral has also played an instrumental role in providing actionable insights to clients across multiple industries including Retail, CPG, Food and Beverages, Media, Telecom, and Entertainment.

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Identifying Right Targeting and Marketing Strategy Through Physician Journey Analysis Engagement

Quantzig’s recent physician journey analysis engagement for a multinational pharmaceutical company guarantees around 30% reduction in marketing costs.

Physician journey analysis changing healthcare landscape

The assimilation of the high volume of data about a patient to determine the proper diagnosis and right treatment plan is termed as physician journey analysis. Physician’s performance has a direct impact on the financial success and hospital image; hence physician’s level of engagement is gaining immense importance in the healthcare industry. The increasing pressure to provide high-quality and cost-effective care for patients is encouraging the adoption of physician journey analysis. Through data analytics, hospitals and clinics can improve the patient care systems and meet the current regulatory requirements set by the governments of different countries. The team at Quantzig offers effective insights that help healthcare companies understand the next best marketing action at each stage of physician engagement. The analytical solutions offer key insights that strengthen physician engagement, provides information on latest research and developments in the industry, and creates awareness about the different trends in the market. The marketing strategies designed helps reduce costs based on prescription behavior and measure the impact of each activity.

The implementation of data analytics tools like Big Data and other technological stacks will help professionals and service providers to collect data from different sources and increase efficiency and quality of service provided. Using technology ensures faster delivery of service through the right channel at the right time. Using various internet platforms like emails, social media, blogs, and campaigns increases interaction among patients and physicians and promotes well-being and disease awareness.

Identifying and designing marketing strategies

Planning the best marketing action at every stage of physician engagement will help boost the brand image and excellence of the organization. These strategies help in mapping the right content to the right target audience, through the right channel, and at the right time. Physician journey analysis helps in examining the data and match the correct branding for the correct physician.

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Smart marketing across various channels

Optimizing reach by adopting digital marketing channels is the new age method of advertising and marketing. Using social media to its advantage will help physicians offer specialty services, which are highly in demand in the global market. Webchats, video conferences, vlog and blog content, and YouTube channels are innovative ways to reach consumers faster. These methods of branding help doctors emotionally connect with prospective patients and promote brand recognition.

Outcomes, insights, and solutions offered

Quantzig’s analytics team has extensive experience in handling challenges for the pharma industry and offer best marketing actions that will help physicians gain more recognition in the market. Some of the solutions offered are as follows:

  • Offer insights on the key responsibilities of the commercial excellence team to strengthen the physician engagement
  • Provide business intelligence solutions by sourcing marketing data such as call planning, e-detailing, email campaigns, CLM data, seminar attendance, and sales data
  • Assure 12% increase in TRx prescriptions from physicians in lower tiers, six months post implementation of targeted marketing approaches designed based on physician journey mapping
  • Business rules were fed into the Content Management Systems (CMS) to serve up right messages in right channels at right time to right physicians
  • Reduce marketing cost by optimizing call planning and sampling distribution processes based on the analysis of physician prescription behavior
  • Identify physicians who are using competitor brands but are willing to switch, given the right content and touch point

The complete case study on physician journey analysis engagement for a leading pharma company is now available.


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How Machine Learning is Revolutionizing Healthcare

Machine learning has permeated everyday life in a variety of ways. It is used for everything from spam filters to purchase recommendations to speech recognition, as well as in fields such as robotics and biology. Unfortunately, it has so far been underused in the healthcare industry: due to its cost and complexity, it is often inaccessible to healthcare organizations.

One company is looking to change that, however. Earlier this year, data and analytics company Health Catalyst launched healthcare.ai, an open-source collection of machine learning resources that will bring this technology within reach of healthcare providers of all kinds. Health Catalyst is also embedding machine learning capabilities in all its products going forward.

There are many different ways that healthcare industry can benefit from machine learning. While the technology may not yet be widespread within the industry, many organizations are already making innovative use of it. From administrative applications to diagnostics and mHealth, machine learning is already beginning to change the face of the healthcare industry.


Researchers at Indiana University-Purdue University Indianapolis have created an algorithm that accurately predicts relapse and remission rates for acute myelogenous leukemia (AML). It draws data from bone marrow samples and patient medical history, and compares that with healthy individuals to make a prediction. This analysis is normally performed by doctors, but it is a difficult and complex task, and even highly skilled practitioners will not always agree. Machine learning removes subjectivity from the equation and is able to provide more accurate results.

This is just one specific example for one specific type of cancer. Many other studies are being done, and programs are being created that can help doctors make diagnoses faster and more accurately. As machine learning becomes more widespread and amasses more data, patient outcomes stand to improve substantially.


It can be challenging to determine the right treatment for a patient, or learn what medications are most effective under what circumstances. Machine learning can analyze large amounts of data more effectively than other methods, and make discoveries that otherwise would have been difficult or impossible to see. This can not only improve the patient’s experience and health, but also save hospitals money, as it allows them to optimize their use of medication and other resources.

These healthcare analytics can also help determine which patients need urgent care and which ones can be safely released, minimizing the number of people who need to return to the hospital at a later date, as well as preventing the facility from spending more time with a patient who does not need it.

Administration and planning

Another area where machine learning is useful is improving the flow of patients through a health facility and allowing for more efficient use of resources. It can benefit scheduling in many ways, such as by predicting appointment cancellations or determining which patients are mostly likely to need readmission. A hospital in Brazil managed to reduce the length of patients’ stays using this technology, freeing up ICU beds and increasing the number of people it could treat in a month.


There are also several ways that mobile health applications can benefit from machine learning. In the healthcare industry, it is currently being used to monitor and treat patients remotely, as well as to provide support during long treatments or remind users to take their medication. There are multiple apps being developed that can assist both patients and their doctors, which is especially helpful in regions where there are few physicians and hospitals.

These are only a handful of the means by which machine learning can benefit healthcare industry. As the technology becomes increasingly accessible and widespread, medical data analytics applications and their effectiveness will rise, leading to better care and more savings across the healthcare industry.

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