The healthcare landscape is continually evolving. In recent years, many changes such as the increased use of telehealth services, physician workforce shortages, and countless mergers and acquisitions have impacted interactions between healthcare providers (HCPs) and sales reps.
For pharmaceutical and medical device companies, monitoring and adapting to these market changes is critical for sales targeting. If your organization is clinging to outdated HCP targeting strategies, you’re likely missing opportunities. The good news is that de-identified medical claims data may hold the secrets to your success.
Advancements in data analytics can help you recognize emerging trends, adapt to the fast-changing healthcare landscape and increase market share. De-identified medical claims data, layered with records on factors such as telehealth and provider visit locations, can offer unique insights previously unavailable.
The right data and filter combinations can help you understand how providers:
Armed with these insights, you’re able to improve your HCP targeting strategies and messaging.
Consider a practice that treats numerous patients in your therapy area. It would appear to be an obvious target for a sales visit. But what if most of those claims are telehealth visits and the doctor goes into the office only a few days a month? Stopping by without an appointment is likely to be a waste of time. Instead, choose to connect virtually with that physician rather than attempting to schedule an in-person meeting.
Knowing telehealth numbers can also help with territory alignments. A physician may appear to be spending the majority of their time in a particular region, but if all of those visits are virtual, you’ll need to change your calculations.
According to the Association of American Medical Colleges (AAMC), the U.S. is projected to have a shortage of up to 124,000 physicians by 2034, including 17,800 to 48,000 primary care physicians and 21,000 to 77,100 specialists.1 Those numbers will surely influence your sales activities.
In territories with too few doctors, physicians carry a heavy patient load. Getting time with them will be difficult. Perhaps virtual visits and other digital tools are a better way to interact.
You might also consider contacting other medical professionals such as physician assistants and nurse practitioners, who presumably have more availability and are likely playing a pivotal role in delivering care. By linking filters specific to your therapy claims data, you can know what the challenges are to your sales efforts and develop strategies to overcome them.
How is your product faring compared to competitors’? Medical claims intelligence removes guessing from the equation. Layer that information with physician volumetrics, and you can see which products doctors are choosing and determine how best to approach them. By monitoring competitors and utilization, you’re able to be strategic in positioning your product.
You can also identify any shifts in market share. Are patients on your therapy increasing or shrinking? Can you identify the cause? Is a specific competitor drug stealing your market share? Are changes occurring by region or nationally?
Continuous updates to medical claims data along with the use of filters and analytics deliver a robust view of providers and their patient population. Use those insights to spot opportunities, neutralize threats and hone your messaging.
Medical claims-based intelligence can inform your sales efforts, allowing you to work smarter and see greater results. You can incorporate analytics from different medical claims elements to:
Equipped with actionable insights culled from de-identified medical claims data, you can refine your sales strategy. You’ll be in step with the evolving healthcare landscape while driving positive outcomes for your organization and patients.
1 https://www.aamc.org/news/press-releases/aamc-report-reinforces-mounting-physician-shortage