Q&A on the latest in data use by pharma

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October 25, 2019

Analytics are critical to the pharmaceutical industry. In this Q&A, HRI and PwC principal Carlos Moreira talks about data trends and how to solve some of the knottiest problems.

PwC Health Research Institute (HRI): 

What kinds of data do pharmaceutical life sciences companies currently capture? What new data should these organizations think of capturing?

Carlos Moreira, HRI and PwC principal 

Currently, most pharmaceutical and life sciences companies capture information from three sources: operational systems, third-party data providers and contracted specialty programs with payers and providers.

First, the operational systems are infrastructure that support the commercial function like sales, contracting and customer relationship management systems.

Second, third-party data providers collect and create their own data assets, which are purchased by most pharmaceutical and life sciences companies.

The third area is data collected through relationships with payers or providers, by contract or through specialty programs.

All of this data can be sourced, and entered, into PwC’s Insights Platform, which features a simple architecture that creates, aggregates and publishes the data. On the consulting side, we can help to align business goals with metrics available through the platform.

As far as opportunities for collecting new kinds of data, there is a trend toward converging insights with the health services sector. Mobile wearable devices generate additional insights about patient location and compliance.

Traditionally, this information has not been captured in the pharmaceutical and life sciences sector, but it is likely to become a viable asset in building patient-focused products and technologies.

HRI: How does the PwC pharma and life sciences Insights Platform accelerate decision-making?

Carlos Moreira: It creates an environment where the company can accelerate the delivery of strategic insights that PwC defines and develops in our consulting services. Together we envision an outcome that we think we can generate by using the Insights Platform to produce leading indicator metrics that track progress toward meeting the goal.

PwC helps identify and build process optimizers to drive the outcome and, ultimately, improve the analytics. For example, the pharma and life sciences Insights Platform applies analytics that illustrate the opportunity areas to drive better performance, and utilization of process improvements for a customer or a specific territory.

The outcome is generated when the sales representative implements that process improvement and updates the customer relationship management system, or another operations system. From there, the company delivers better performance in the next cycle when measured and reevaluated in the platform.

Building a loop around data ingestion and indicator metrics and behaviors is paramount to drive the process outside of the platform so goals can be met. This platform allows the company to make smarter and faster decisions more quickly by integrating different sources and systems, so a company can influence behaviors and processes to achieve expected outcomes.

As far as opportunities for collecting new kinds of data, there is a trend toward converging insights with the health services sector. Mobile wearable devices generate additional insights about patient location and compliance. Traditionally, this information has not been captured in the pharmaceutical and life sciences sector, but it is likely to become a viable asset in building patient-focused products and technologies.

HRI: How is the Insights Platform best optimized today?

Carlos Moreira: It collects commercial activity information, which includes sales operations, field operations and support, and computes these areas into an executive dashboard with key indicators. The platform shows what the company and industry are doing by looking at different dimensions including revenue generation and revenue optimization.

First, revenue generation insights help us understand what is happening in the market. Second, revenue optimization shows pricing and how the product compares to other products in the portfolio and a competitor’s portfolio.

By evaluating these areas, companies can determine effectiveness in the market from a price management and deals perspective with an overarching view of how revenue growth and performance are impacted.

The success of the pharma and life sciences Insights Platform is like a cake. The first layer is the ability to have a platform for new tools and data and analytic capabilities. The second layer consists of the consulting services with a client. During this time, we identify the indicator metric critical to driving a business outcome.

The final layer is constituting and building processes to drive the outcome and managed service. Moreover, the platform identifies areas for continuous improvement to drive outcomes and to build new indicators. In order to effectively utilize the platform, business and technology are integrated.

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Contact us

Trine K. Tsouderos

HRI Regulatory Center Leader, PwC US

Tel: +1 (312) 241 3824

Alexander Gaffney

Senior Manager, Health Research Institute, PwC US

Tel: +1 (202) 836 1604

Crystal Yednak

Senior Manager, Health Research Institute, PwC US

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