Enhancing go-to-market strategies with real-world data

Our series exploring the value of real-world data (RWD) throughout the pharmaceutical product life cycle has already discussed how RWD can accelerate the path to regulatory approval by leveraging it before a clinical trial even starts, contextualize clinical trial findings during the trial, including limiting the impact of patients lost to follow up, and extend value long after the trial by enabling comprehensive and insightful long-term follow up. In this final installment, we will delve into the benefits RWD can bring to commercial operations and go-to-market strategies.

Reach your target audience

One of the biggest obstacles in going to market is ensuring you’re reaching the right target audience, whether it’s physicians treating patients with the condition of interest to deploy your sales team or reaching actual patients through digital campaigns. Real-world data can inform both scenarios. 

Physicians treating patients of interest

As therapies become increasingly complex and personalized, it is critical that physicians prescribe the right treatments to the right patients at the right time. That means pharmaceutical companies have to conduct physician outreach and education efforts at the right time too, before a prescribing decision is made. Trigger programs help with this effort by using RWD and analytics to identify physicians treating patients meeting specific criteria, however, legacy trigger programs are challenged by long lag times and numerous false “new patient” alerts, both of which can defeat the purpose if treatment decisions have already been made. With the nation’s largest healthcare and consumer data ecosystem, HealthVerity Precision Event Alerts leverages an expansive combination of data that overcomes these challenges. 

Traditionally, trigger programs determine if a patient is actually new by looking back 12 to 24 months in open claims derived from clearinghouses that route the healthcare providers’ claims to the appropriate payer for payment. While the short lag time of open claims makes them useful in trigger programs, because not all clearinghouses share their data, there are gaps in the patient’s healthcare journey, which limits the ability to qualify a patient as new. Precision Event Alerts uses both open and closed payer claims to verify that a patient is truly new. We have found that this provides an average of 20% greater accuracy than legacy trigger programs, significantly limiting false alerts.

Additionally, other solutions often rely on weekly feeds that are compounded by significant processing time. Precision Event Alerts has feeds that are as frequent as daily, with automated routines to accelerate delivery. As a result, what could take 18 to 22 days with a legacy solution could be cut in half with HealthVerity Precision Event Alerts. By leveraging an expansive combination of data that includes labs and open and closed medical claims, Precision Event Alerts can also provide 15% to 40% more patients. 

Patients with the condition of interest

With patients taking a more active role in their healthcare, a proliferation of healthcare and consumer data available, and technology to apply advanced analytics, we’re seeing a significant shift away from mass marketing techniques toward more patient-centric approaches. With this shift, however, the industry has been met with many challenges and limitations, such as strict regulatory requirements and pre-defined or ‘black box’ audience segments that limit analysis. 

HealthVerity Audience Manager overcomes these challenges by providing a self-directed analytics environment that allows you to synchronize the transaction-level healthcare and consumer data of your choice and apply fit-for-purpose analyses in a fully HIPAA-compliant manner so you can gain a deeper understanding of patient behavior and more precisely target optimal audience segments. By synchronizing healthcare and consumer data with your proprietary data, you can gain a comprehensive view of the patient journey, including social determinants of health, more granular demographics and consumer behaviors, enabling the ability to build precise lookalike models to target the right audience, in the right channel, with the right content, at the right time. 

This approach empowers you to learn over time and enhance your targeting, versus hoping that black box targets are aligned to your specific needs, leading to higher conversion rates and maximizing your return on advertising spend. As a senior analytics executive for a global healthcare marketing insights firm commented, “Audience Manager generates profiles and identifies potential target cohorts that are superior to going to market broadly. We build a segment that we’re targeting for a particular customer brand. As a result, the conversion likelihood increases significantly.”

Measuring the impact and optimizing results

Now that you’ve honed in on your target audience, you need to measure the impact of your marketing efforts and be able to optimize your campaign over time. Historically, pharmaceutical brand campaign measurement was limited to front-end metrics, such as clicks and views, and has been isolated from the actual impact on patients’ healthcare decisions. HealthVerity Media Measurement goes beyond clicks and views by synchronizing your digital media ad and television exposure data with your choice of pharmacy and medical transactions from patients of interest, all in a privacy-protected and HIPAA-compliant manner. With this approach, you can conduct analyses and determine if the people viewing your campaign actually have the condition of interest, if they’re seeing the doctor and filling prescriptions. These insights allow you to evolve your marketing strategy and conduct real-time campaign optimization for the most return on investment.

Keep the data flowing to expedite product adoption

With your campaign optimized and more patients visiting your drug brand website, you can convert that web traffic into actionable knowledge about patient intent and priority in a HIPAA-compliant manner with HealthVerity FLOW. As a middleware solution, HealthVerity FLOW captures and manages your visitors’ personally identifiable information (PII) and consent preferences, allowing for synchronization with the real-world data of your choice in a HIPAA-compliant manner. This provides invaluable patient insights, such as prescription fills and drug switching behavior, to drive the effectiveness of your education and engagement efforts, enhancing your post-launch success and expediting product adoption.  

As our series has demonstrated, by keeping data flowing throughout the pharmaceutical product life cycle, you can accelerate approval all the way through product adoption for improved return on investment and better outcomes.

Learn how keeping the data flowing can enhance your go-to-market strategies and expedite product adoption:

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