Deep customer insights underpin market access
As healthcare markets continue to shift from a volume-based practice to a value-based one, in-depth knowledge of your customers, their needs and their preferences becomes ever more vital for ensuring market access for new products and commercial success.
Today’s market therefore demands deeper integration between marketing, market access and sales teams so that the brand and market access strategy can be operationalized more effectively through to the field sales organization. Those Life Sciences companies that can leverage next-generation technology solutions to connect multiple, siloed data sources to deliver real-time insights on market access, such as changes to formulary status, to all teams (including field teams) will see dramatic improvements to their brand’s commercial success.
Here are three critical insights that, when connected to a market access strategy, can drive that transformation:
1. Provider engagement preferences
Physicians work longer hours and treat more patients than ever before. With physician time becoming an increasingly scarce commodity, Life Sciences companies are increasingly learning to contact customers on their terms at the right time and day and via the preferred channel. Some providers may prefer email over a phone call, or face-to-face over email. Cross referencing these preferences with your market access approach changes the consideration and planning around physician engagement, improves the brand’s access strategy, and puts the company’s resources where they are most needed and valued.
2. Treatment history and patient pathways
To ensure you are reaching the right physicians (at the right time, with the right messages), the best place to begin your search is by segmenting customer data by treatment history with data filtered by prescription habits and therapy areas. But the physicians may be just one link in a much longer treatment chain for your market access strategy. By gaining relevant, real-time insights into the full patient pathway, you can discover other stakeholders that will help you build a more robust and effective course of action for improved commercial success.
3. Influence and areas of scientific interest
Today’s Life Sciences field reps are much more than sales people – they are using insights from global health data to develop in-depth knowledge of the competitive landscape and broader treatment options available to patients, providers and payers. This insights-driven knowledge, combined with an augmented understanding of a provider’s areas of scientific interest, influence and publication history, is creating deeper, stronger customer relationships and ultimately improved brand success.
To read more, download our latest report, From Volume to Value: Using payer insights to increase sales effectiveness.