Tag: pharmaceutical industry trends

real world evidence

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 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.

Harness the power of real world evidence analytics to enhance clinical research efficiency.

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Real world evidence analytics experts adopted a three-step analytics approach to help the client tackle their core business challenge.

Phase 1

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.

Phase 2

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).

Phase 3

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.

Looking to design strategies to commercialize new drug applications and upgrade post-launch sales and marketing tactics? Our customized analytics solutions can help. Gain limited-time complimentary access to our analytics platform today.

Business Outcome

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.

customer segmentation analytics

Boosting Sales and Profitability for a German Pharmaceutical Company with the help of Customer Segmentation Analytics – A Quantzig Success Story

The client is a German pharmaceutical company that majorly focuses its efforts on oncology, metabolism, immunology, respiratory disease and central nervous system diseases. The company has a strong market presence in 12 countries across the globe.

With the pharmaceutical environment becoming extremely competitive and dynamic, companies in the pharmaceutical industry have also shifted their approach towards consumerism. To stay ahead of the curve in today’s business landscape, pharma companies need to effectively target promotional activities toward consumers who are most likely to respond to their marketing efforts. Pharma companies need to get away with traditional marketing approaches to reach consumers in a rapidly changing healthcare environment.

Quantzig’s customer segmentation models employ sophisticated data clustering techniques to classify customers into diverse groups. Request a FREE proposal now to gain in-depth insights into our portfolio of customer analytics solutions.

Business Challenge

The client was facing serious challenges while expanding their business overseas.  This was mainly due to their inability to classify customers in the new market based on their needs and specific behavioral and demographic patterns. The pharma company was not able to achieve the desired results through their existing promotional campaigns. So, they approached Quantzig to leverage its expertise in offering customer segmentation analytics to better understand and segment their customers based on their value. Also, by leveraging customer segmentation analytics, the client wanted to tap hidden business opportunities within untapped customer segments in the new market.

Our customer segmentation analytics experts help companies achieve far more accurate insights regarding customer preferences and help develop forward-looking perspectives. Get in touch with them right away.

Solution Offered and Value Delivered

To help the client tackle their challenges Quantzig developed a holistic customer segmentation analytics framework to improve their customer segmentation strategies and target new consumers through personalized marketing campaigns. The analytics experts at Quantzig also leveraged robust statistical tools and response modeling techniques to glean actionable insights into various customer segments. Consequently, the client witnessed a significant improvement in the response for their personalized campaigns and achieved an increase of 23% in sales and profitability.

By using Quantzig’s multi-dimensional approach to customer segmentation analytics you can better target your customers by understanding their behaviors, needs, and value. Request a FREE demo to know more.

Quantzig’s customer segmentation analytics solutions also helped the client to:

  • Identify high-performing, profitable product categories, and understand the degree of alignment between the needs of the customers and their offerings
  • Better target their customers by understanding their behavior, needs, and value
  • Achieve an unparalleled degree of customer-centricity and unique value propositions

To learn how our customer analytics solutions can help you get end to end visibility into your customer’s journey, request for more information below.

Global Pharmaceutical Industry Challenges

PHARMACEUTICAL INDUSTRY

advanced planning and scheduling

How is Big Data Analytics Contributing to the Changing Dynamics of the Pharmaceutical Industry?

The use of big data is no longer limited to transforming customer-facing functions such as sales and marketing alone. In the pharmaceutical industry, big data analytics is helping companies to deal with declining success rates and stagnant pipelines. Big data analytics is creating immense opportunities for companies in the pharmaceutical industry to deal with complex business environments amidst the explosion of data sets. The effective utilization of these datasets can help pharmaceutical companies in drug development. Also, big data analytics has enabled companies to improve clinical trials, manage risks efficiently, and improve patient safety.

Our analytics solutions help pharmaceutical companies in medical cost management and drug development. Request a FREE proposal now to gain better insights into our portfolio of analytics solutions.

How is big data analytics revolutionizing the pharmaceutical industry?

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Improving sales and marketing

Until recently sales and marketing were grey areas in the pharmaceutical industry. But by leveraging big data analytics, pharmaceutical companies can easily focus on specific geographical areas to promote their medications. Consequently, pharmaceutical companies can create targeted marketing campaigns, thereby saving both on time and effort. Therefore, the role of big data analytics has become even more critical in devising marketing strategies and sales plans.

Quantzig offers analytics solutions specific to the pharmaceutical industry that provide evidence-based insights to help drive better decisions and results in all commercial operations. Request a FREE demo below to know more.

virtual clinical trials

Enhancing the efficiency of clinical trials

Clinical trials are an integral part of the pharma industry. The patients undergoing these trials must meet some prerequisites. Big data analytics solutions help companies merge the databases from multiple sources, to filter out patients who do not meet the basic requirements. Also, these solutions help researchers monitor the patients on a real-time basis and predict the side-effects of drugs.

US healthcare industry

Helping in early detection of diseases

Predictive analytics is helping companies in the pharmaceutical industry in the early detection of drug toxicity as well as improving the chances of patient survival. The algorithms used by predictive analytics helps in gaining detailed insights into patient data and deliver personalized care to the patient.

Our pharmaceutical industry experts help companies to manage their supply chains through specialized algorithms, tools and analytics models. Get in touch with them right away.

healthcare analytics

Allowing doctor-pharma collaboration

One way in which big data analytics is making improvements in the pharmaceutical industry is by predicting the best treatments for individual patients. It can help in looking through data faster than humans and find the interventions likely to cause the most significant advantages for ill patients and their caregivers. Using big data analytics insights, pharmaceutical companies can reach out to physicians and advise on how a certain medication could fit within a person’s treatment plan. Also, it enables  physicians to collect real-time data about whether treatments have intended effects, especially when their patients use Internet of Things (IoT) enabled wearables.

Wonder how big data analytics solutions can help you improve ROI significantly? Request for more information below.

Top Pharma Marketing Trends to Watch Out for in 2019

Pharma companies are facing several predicaments such as slowed market growth, aggravating drug prices, patient-centric approach to healthcare, Brexit, and much more. The capabilities required for pharma companies to overcome these challenges and connect with key audiences need to evolve. In recent years, pharma marketing companies have witnessed a splurge of technologies such as automated machine systems, artificial intelligence, voice assistants, interactive responsive UI, data accuracy, e-detailing, high-quality management systems, and much more. All these technologies have changed the pharma marketing ecosystem. But what’s there for pharma marketing companies to embrace in 2019 and how will it help them to boom in the years to come? In this article, our analytics team has uncovered some of the upcoming pharma marketing trends that pharma companies should stay up-to-date with:

Are you finding it difficult to gauge pharma marketing trends? Get in touch with us now!

Top Pharma Marketing Trends

Pharma Marketing Trend #1: Consumer behavior

Consumers of today have become more informed and have taken control over their own healthcare. Today, every consumer searches for a more convenient way to procure medical services. They expect to have the same level of experience from every brand. However, companies in the healthcare industry struggle when it comes to utilizing consumer behavior to improve care and service offered. But if pharma companies want to stay ahead of the curve, they need to focus on customer experience to improve the relationship journey and this is one of the most important pharma marketing trends.  It can also help pharma marketing companies to create awareness and drive sales. Furthermore, this can help pharma marketing companies to influence the experience for the end patient or consumer.

Our healthcare analytics solutions help pharma companies to address predicaments like reducing costs, gaining a competitive market advantage and analyzing pharma marketing trends. Request a FREE proposal to know more about our portfolio of services.

Pharma Marketing Trend #2: Connections with physicians

Today, it has become difficult for sales reps in pharma marketing companies to reach out to the physicians. To reach out to the physicians, pharma companies must advance their approach to target them and become more sophisticated in their multichannel marketing efforts. Evolving pharma marketing trends demand pharma marketers focus on crafting messages that they need to deliver to the physicians as the recent research shows that physicians don’t entirely trust the information sent by pharma companies. Effective and well-crafted messages can help in better and personalized pharma marketing.

Healthcare analytics dashboards can help pharma companies to improve their marketing strategy by gauging Pharma Marketing Trends in real-time. Request a FREE demo below to know more.

Pharma Marketing Trend #3: Social media interactions

Social media provides an immense opportunity to companies in all industries to connect and engage in dialogue with their customers effectively. Pharma brands that are most successful on social media are generally the ones that share content based on the company values and its customers and not on brands or products. The most successful pharma brands on social platforms are the ones that focus on sharing content around the values of the company and its customers, not just on products or brands. Conversation with consumers and healthcare service providers on social media is one of the most rapidly evolving pharma marketing trends that offer an opportunity to pharma companies to connect directly with consumers. This helps in better pharma marketing and improves customer retention.

Pharma Marketing Trend #4: Emergence of electronic health records

Electronic health records have become one of the most booming pharma marketing trends for pharma companies this year. This is because these records help in developing a focused campaign and improve the engagement rate of pharma companies with their consumers. Consequently, it improves the sales of products and most importantly helps in building trust among the consumers for the particular brand.

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3 Strategies for Leveraging Patient Journey Mapping to Improve Patient Experience

As patient experience moves towards the center stage for many of the nation’s health systems, leaders and pharmaceutical companies responsible for this function are tackling issues like lack of leadership to drive patient centricity, separating quality care from hospital amenities, and understanding patient journey, needs, and wants.

When a patient’s needs and demands are not understood or there is a breakdown in the communication, they feel lost, vulnerable, and afraid. This is where marketers and communicators should be contributing to the patient experience. While the healthcare professionals or pharmaceutical companies may not be able to change what happens in the examination room, there are several ways they can support and enhance communication throughout the experience, and patient journey mapping is a key strategy.

At Quantzig, we understand the power of patient journey mapping in boosting patient experience and the huge difference it can make in the growth graph of your healthcare business. And to help pharmaceutical companies excel in an ever-competitive healthcare Contact USmarket, our team of experts has highlighted three key strategies for leveraging patient journey mapping that can help pharmaceutical companies improve their patient experience.

Strategies for Leveraging Patient Journey Mapping to Improve Patient Experience

Strategy #1: Treat your organization’s website like the North Star

Pharmaceutical companies or any healthcare organization should ensure that their website should be truly patient-centric and offer clear, strategic calls-to-action to tap into the mindset of the patient. This helps your prospective patients to be just a click away from what they need. Patient journey mapping at the trigger event phase will likely drive the critical first impression and begin a positive or negative patient experience.

Strategy #2: Ensure your calls to action are an impeccable experience

Whether patients are calling for an appointment or scheduling services online, they should experience the ease of access. Lengthy hold times and arduous steps to see a provider creates friction for your patient audiences. Patient journey mapping at the cRequest Proposalonsideration phase pushes pharmaceutical companies to strive for improving the ease of access.

Strategy #3: Communicate to patients about the next step clearly

Ensuring that the patient understands the next step, and the step after that is very important. The intent and experience phase of patient journey mapping makes it mandatory for hospitals and pharmaceutical companies to have a clear communications protocol to guide patients through the scenario that may come next, making them feel well-cared for and delivering the utmost patient experience.


Wondering how to improve patient experience and reconfigure your approach to care? Patient journey mapping is the key. Request a free demo below and access patient data on real-time dashboards.

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Top 3 Pharmaceutical Marketing Strategies that Companies Must Keep an Eye on

At present, the pharmaceutical industry is one of the biggest markets in the world and companies must be vigilant of the latest pharmaceutical marketing strategies to successfully reach the target audience. The time and effort that it takes to research and identify a market, develop a formulation for the drug, integrate operational systems, run clinical trials, and focus on branding are colossal and every stage takes a great deal of funding to reach completion. Therefore, it is essential for pharmaceutical companies to have some good pharmaceutical marketing strategies in place. Most pharmaceutical companies are competing against each other in terms of retailing products. Geographical location and price are essential qualities that can help companies to make a dent in the market. But implementing watertight pharmaceutical marketing strategies can help companies to become market leaders. In this article, we have explained in detail some interesting pharmaceutical marketing strategies to help pharma companies increase their presence in the market.

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data and analytics

Top 5 Challenges Facing the Pharmaceutical Industry and Solutions to Combat Them Effectively

There have been several speculations about the stationary growth of the pharmaceutical industry, but recent technological advancements are expected to encourage the growth of this industry in the years to come. Click To Tweet

The recent population shift to urban areas and increasing accessibility of people to healthcare services has opened the doors for companies in the pharmaceutical industry to a broader target market. These emerging markets are becoming extremely important for pharma companies. However, for companies in the pharmaceutical industry, it becomes very essential to shift from a sales and marketing-focused model to an access-driven commercial model. Additionally, with healthcare becoming a priority for governments in several countries, the pharmaceutical industry seems to have a bright future. But on the flipside, there are several factors like consumer attitudes, drug availability, affordability, policies of governments, which might not entirely be in the favor of pharma companies and are challenging the growth of pharmaceutical industry. In this article, we have talked about several critical challenges faced by the big players in the pharmaceutical industry. and have highlighted steps that will help companies to combat each of those challenges.

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predictive analytics

Get Ready for These Pharmaceutical Industry Trends in 2018

Companies in the pharma industry have been growing exponentially over the last couple of years. In order to cope up with these changing market dynamics, pharma companies must reassess strategic direction, anticipate and absorb change, and move with deliberate speed. In this new era, top pharma companies will have to become more proactive to meet the demands of a wide swath of consumers. The sale of goods will undoubtedly be a priority, but pharma companies will also have to emphasize greatly on delivering positive results, which includes the well-being and optimal management of illness among targeted groups in the new health economy. HerRequest Solution Demoe are some of the pharmaceutical industry trends that you need to certainly keep track of this year:

E-services

Technology will positively impact pharma companies in the years to come. Pharmaceutical industry trends such as e-services have begun to automate processes across the patient journey, often resulting in improved speed and customer experience. In fact, e-services have proved to be a major platform for the growth of companies in the pharma industry.  Going forward, brand teams should have technology conversations as a part of every launch strategy and specific conversations about opportunities to converge e-processes in the name of better customer experiences.

Patient-centricity

Factors such as the restructuring of the U.S. healthcare delivery system, competitive landscape of dynamic costs, and the stringent regulatory demands are challenging the pharmaceutical industry. Differentiation has become one of the key aspects of focus for top pharma companies. As such, changing the way in which players in this industry reach out to and extend patient care is one of the top pharmaceutical industry trends to watch out for this year. By using a relatively new technique known as the blue ocean strategy, top pharma companies are revamping the manner they approach their patient access strategies and product launch. Blue ocean strategy suggests that lasting success comes not from battling competitors but from creating “blue oceans” of uncontested market space ripe for growth.

Increased collaborations

Innovation will also be driven by an increase in collaboration across top pharma companies in the sector. To thrive in the ever-increasing competition in the market, pharma companies will have to work together to develop new and innovative products, services, and solutions. These companies will also greatly benefit from sharing each other’s skills and expertise. Recent collaboration between AbbVie, a research-based biopharmaceutical company, and the Google-backed life sciences firm Calico is an instance of collaboration being one of the noteworthy pharmaceutical industry trends in the recent times. Calico’s technical expertise was used to establish a new R&D facility, and AbbVie used its commercial expertise and scientific and clinical development support and to bring discoveries to market. In this manner, the two companies hope to discover, develop, and market new therapies for patients with age-related diseases and cancer.

Frequent product launch

Nearly 200 new drugs are expected to be introduced into the market in the next five years. Which means that this will be a continuation of the second wave of innovation, similar to levels seen in the mid-2000s. Furthermore, the number of medicines receiving the FDA’s Breakthrough Therapy Designation is skyrocketing. This is contributing to an acceleration of approvals. However, the global availability of these new medicines to patients varies significantly depending upon the country and disease.


To know more about the pharmaceutical industry trends and challenges in 2018

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