Brand success hinges on the ability to both identify opportunities and manage risks effectively. While national trends provide valuable context, true competitive advantage often lies in understanding and acting on insights at the facility level.
Traditional challenges in marketing data utilization within the pharmaceutical industry often stem from the limitations of existing data sources. For instance, while sales data provides insights into the facilities where prescriptions are filled, it does not offer information about the specific patients, regimens, or indications for those prescriptions. Conversely, real-world data (RWD) reveals details about the patients, regimens, and indications prescribed, but it lacks information about the facilities involved. This disconnect highlights the need for a more integrated approach to data utilization to gain a comprehensive understanding of the market.
Prospection AI, enhanced by its Facility Insights solution, offers a powerful tool for brand managers to refine their strategies, uncover hidden opportunities, and mitigate risks with unprecedented precision. Brand managers have traditionally relied on national and regional data, as well as facility-level sales data, to inform their strategies. However, sales data alone can’t provide a complete picture of patient dynamics and treatment patterns at individual facilities. This limitation can lead to overlooked risks or missed opportunities. Facility Insights addresses this gap by combining sales data with other sources, providing visibility into patient dynamics and brand performance at individual healthcare facilities. This approach offers a more comprehensive understanding of facility-level trends, enabling more informed strategic decisions.
Bringing Facility-Level Insights to Bear
Identify Facility-Specific Opportunities and Risks
Prospection AI’s Facility Insights allows brand managers to pinpoint specific hospitals or clinics where performance deviates from expectations. This granular view enables:
- Discovery of high-potential facilities for targeted growth initiatives
- Early detection of underperforming facilities that may signal broader market challenges
- Recognition of facility-specific barriers to adoption or adherence
- Identification of facilities with best practices that could be replicated elsewhere
Optimize Resource Allocation
With facility-level insights, commercial leaders can make data-driven decisions about resource allocation, ensuring efforts are concentrated where they’ll have the greatest impact:
- Target sales and marketing efforts to facilities with the highest growth potential
- Allocate support resources to facilities struggling with adherence or persistence
- Tailor educational initiatives to address facility-specific knowledge gaps
- Redirect resources from saturated facilities to those with untapped potential
Tailor Strategies for Maximum Impact
Understanding the unique challenges and opportunities at each facility allows for more precise strategy development:
- Develop facility-specific action plans to address underperformance or capitalize on growth potential
- Implement targeted interventions to improve adherence or persistence where needed
- Create customized value propositions that resonate with each facility’s specific needs and priorities
- Proactively address potential issues before they impact broader market performance
Enhance Performance Tracking and Forecasting
Facility Insights enables more precise monitoring of performance, risk factors, and growth opportunities:
- Track the impact of initiatives at a granular level, allowing for quick adjustments and optimization
- Identify leading indicators of market shifts by monitoring trends across similar facilities
- Benchmark facility performance against peers to set realistic goals, identify anomalies, and uncover best practices
- Improve forecast accuracy by incorporating facility-level trends and potential
Overcome Data Limitations
Prospection AI’s proprietary statistical modeling, a cornerstone of Facility Insights, extends insights to facilities not covered by direct patient data, ensuring a comprehensive market view. This unique model combines multiple data sources, including sales data and anonymized patient data, to generate statistically valid estimates for all relevant facilities. By providing estimates for all hospitals with more than 200 beds, including those without direct patient data, Facility Insights offers an unparalleled breadth of market understanding. This comprehensive coverage allows pharmaceutical companies to:
- Identify hidden opportunities in facilities that might have been overlooked due to lack of data.
- Make more informed decisions about resource allocation across a broader range of facilities.
- Develop strategies that account for the entire market, not just the segments with available data.
This capability is the product of a unique combination of factors that Prospection delivers:
- Proprietary Algorithms – Proprietary statistical models that can accurately extrapolate insights from available data to facilities without direct patient information.
- Multiple Data Source Integration – Facility Insights doesn’t rely solely on one data type. It combines sales data, patient data, and other relevant information sources to create a more robust and accurate model.
- Deep Industry Knowledge – The algorithms are built on a foundation of extensive pharmaceutical industry expertise, allowing for more nuanced and relevant insights.
- Continuous Refinement – The models are constantly updated and improved based on new data and feedback, ensuring their accuracy and relevance over time.
It’s important to note that while Facility Insights offers powerful capabilities, some limitations apply. Not all patient metrics are estimable at the facility level, particularly for small patient numbers or rare diseases. Pre-assessment can determine what can be realistically and actionably achieved while maintaining statistical validity.
Precision matters
Market dynamics can shift rapidly; the ability to identify opportunities and respond to risks at the facility level is thus crucial. Prospection AI with Facility Insights provides brand managers with the tools to enhance their strategic capabilities, enabling more precise, data-driven decision-making.
By integrating patient-centric intelligence at the facility level into strategic planning and execution, pharmaceutical companies can apply hyperlocal insights that not only mitigate potential threats more effectively but also capitalize on opportunities that might otherwise go unnoticed. This granular approach to market analysis and strategy implementation ultimately supports improved business outcomes, better patient care, and a more agile response to the ever-changing healthcare landscape.
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Facility Insights is powered by patient-centric intelligence, illuminating behaviors for precision in account profiling and field-force resourcing like no other data can. Contact us now to arrange a demo.
Facility Insights is designed for internal management use to inform strategic decisions. It is not intended for direct use by or distribution to field force teams.