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The influence of Patients, Payers, IDNs and ACOs in the healthcare value chain continues to increase and have an impact on the way Life Sciences companies address the market. Customer Centricity is driven by insights from analysis of patients, healthcare professionals (HCPs), Managed Care and other organized customer segments (HCOs). Life Sciences companies are increasingly identifying the stakeholder’s needs and developing products and solutions to address these needs. This can go beyond selling products, which has been the traditional model for Life Sciences companies to selling services and establishing partnerships with other entities in the healthcare ecosystem.
Trexin can help Life Sciences companies explore new ways to increase the value gained from customer and stakeholder interactions; leveraging data and analytics techniques. This includes:
- Looking at new ways to segment and differentiate HCPs
- Predicting HCP and stakeholder behaviors to enable appropriate campaigns
- Identifying and messaging through the most effective channels
- Measuring HCP interactions and effectiveness
- Analyzing competitive threats and competitor actions
- Tracking HCO affiliations and performance for better targeting
- Measuring and analyze contract performance and utilization
- Assisting with market analytics, sales forecasting and commercial effectiveness
- Analyzing longitudinal data to understand product switching and repeat prescriptions
Trexin will leverage its strong capabilities in data & analytics, technology strategy and solution delivery to help Life Sciences companies address these opportunities.
In addition, Trexin can assist with M&A and post-merger integration and enhance business development and in-licensing (BD&L) processes for Life Sciences companies
Today’s competitive landscape is rapidly changing and Life Sciences companies need to be proactive in identifying competitive forces to stay ahead of the curve. Trexin can help analyze your competitive environment and develop solutions to provide early insight and alerts into key market, regulatory and stakeholder events through a competitive intelligence platform supported by data and insights capabilities.
Analyzing competitor threats will require the integration of information from competitor websites, clinical trial registries, market events, personnel changes, supply chain events, professional journals and publications, company news, and structured and un-structured public and research databases into an intelligent platform that is centralized and usable by commercial, business development, corporate strategy, R&D and the supply chain functions across the company. Trexin will leverage our deep experience with enterprise information management to develop modern competitive intelligence platforms and/or solutions for Life Sciences companies leveraging machine learning tools and techniques to support your market intelligence program.
Areas of Expertise:
- Competitive Intelligence
- Market Intelligence
- Competitive Strategy
- Data & Analytics
Strategies that worked well in the past, including the use of large sales forces to unilaterally “push” messages to healthcare professionals (HCPs), are being challenged by newer commercial models and digital channels. Today, companies are reaching HCPs through sales channels such as tablets, websites, third party smartphone apps and peer-to-peer collaboration sites. In addition, HCPs are influenced by key opinion leaders (KOLs) and peers – this influence network can also be treated as a separate “channel”.
This represents both a challenge and an opportunity for Life Sciences companies. The challenge includes ensuring consistent messaging across these disparate channels with different form factors and usage profiles, managing and analyzing data from these channels and targeting the appropriate channels to the right audience. The opportunity includes the ability to better understand, segment and target HCPs and tune the messages for a “closed loop” marketing capability by combining this data with other internal and external data.
Areas of Expertise:
- Multichannel Marketing
- Omni-channel Analytics
- KOL Selection & Influence Map
Traditionally, measuring commercial effectiveness involved tracking metrics like prescriptions (new scripts, total scripts), deciles, and reach and frequency measures. With the advent of digital channels and the increasing use of additional data sources (such as digital engagement, insurance claims, affiliations etc.) there is an increased ability to better understand and segment HCPs, HCOs and KOLs.
Trexin can help Life Sciences companies develop a commercial effectiveness ecosystem strategy and enhance current data and insight capabilities for commercial analytics, HCP and HCO segmentation and targeting leveraging “big data”, machine learning and analytics capabilities. Trexin will leverage our strong experience with Payers to bring Managed Care engagement solutions to Life Sciences companies.
Areas of Expertise:
- Commercial Analytics
- Commercial Operations
- Sales and Marketing Analytics