Globally, Pharmaceuticals and Life sciences companies struggle to get to market new products that fulfill the needs of Healthcare decision-makers. Lower perceived product differentiation, variety in needs of customers, restricted physician access, and tight regulatory constraints are some of the many challenges these companies face. Healthcare decision-makers, on the other hand, are bombarded with too much information that needs close scrutiny.
A leading Market access partner to the largest Pharmaceutical companies in the world, our client, has an industry-leading online platform, which facilitates the bi-directional exchange of information between life sciences companies and healthcare decision makers (HCDMs), for medical policy & formulary development.
This closed, HCDM-only platform helps effectively research products, even when they are at pre-approval stages. The platform provides a toolkit to streamline the review process as well. On the other hand, it helps manufacturers understand HCDM needs and create product awareness.
Business Challenge & Industry constraints
This industry leader faced a stupendous task in strengthening its information exchange platform with drug analytics. Analyzing hundreds of thousands of evidence resources to generate insights on 2500 pre-, peri- and post-approval products for over 2100 HCDMs needed - a high-performance data analytics platform with visually-sound dashboards. Large volumes of data from surveys on thousands of drugs lead to a challenge in deriving insights, which can further help in taking the right business decisions.
Decision Sciences platform using Azure & Power BI
Our project teams brought to the table years of experience in creating sustainable solution architectures, managing high volumes of data and delivering actionable insights via strong BI & Analytics capabilities.
The teams enabled the company with a Power BI framework for comparative analytics of Drug performance for cost as well as effectiveness. They have created business dashboards that are aligned with critical KPIs based on the criteria, which includes Product insights, Evidence insights, Dossier insights and Formulary insights. From generating use cases out of raw data to creating dashboards & deriving additional insights, our Power BI consultants not only helped in business decisions but also introduced newer KPIs like drug popularity, page visitors, best content, most searched keywords, and most viewed drugs.
With a stronger Business Intelligence platform, the company was able to identify the best evidence resources for different types of products and empower their HCDMs with better information. This improved the overall adoption of the platform by both HCDMs and life sciences companies.