Are your Account Managers drowning in data? Can your Sales Reps easily develop a target list of prescribers where you know you have preferred formulary access? Is your organization taking advantage of Managed Market data to capitalize its efforts on the right issues?
A key problem the pharmaceutical industry faces today is not lack of data, but too much of it, without the necessary time and resources to make the most out of it. Specifically, in regard to managed markets data, the industry is evolving and while many data products exist, it is still difficult to marry disparate data sources, despite the use of bridge files to link them. While Sales Ops does it’s best to provide reports (oftentimes in simple, hand-produced Excel), it takes long, tedious hours to build data repositories and run these high volume reports. Just producing them for the AM team can take one FTE’s full attention. When trying to produce formulary influenced target lists for every sales rep in the company, the system oftentimes gets bogged down from the copious amount of data and time it takes to produce each individual territory target list.
How will your organization stay competitive with the most relevant data in this changing environment?
Verix’s Managed Markets solution resolves these problems by organizing the data in Verix’s own data warehouse with pre-built reports that puts the power in the user’s hands. Users can easily query their own data and drill down to what is most important to them – all at the push of a button. The Verix on-demand solution easily integrates all data sources, including IMS and WKH payer data sets and links them to managed market data sources, such as MediMedia and Fingertip Formulary.
Through our Managed Market solution, users have the ability to create their own reports based on formulary access level, payer type, geography, product and product volume. These capabilities shift the reporting intelligence to the end-user while allowing the Sales Ops staff to focus on more value added analytics. For the AM, he has the key volume information he needs as he works with his MCO’s during contracting efforts. For the rep, she is better prepared to discuss formulary status during her next detail. For everyone, this solution removes the complexity and time previously involved in managing these massive data sets and provides insights instead of data overload.
Finally, Verix’s Managed Markets solution offers powerful functionality that increases collaboration between marketing, the sales force, and the account management team. For example, a pull-through campaign is created based upon a specific formulary change. Marketing provides supporting materials, reps create a formulary specific target list and the AMs track the success of the campaign over time – all through one, collaborative solution.
Contact us at firstname.lastname@example.org for a complete demonstration of our Life Sciences solution and capabilities.