There's a monumental shift underway in healthcare that is changing the way in which services are rendered and paid.
This shift directly affects how life sciences organizations must approach product development, release, sales force engagement, targeting and outreach. Successful life sciences organizations are those that clearly demonstrate the value of their products to patients, providers and payers.
Although many life science organizations have raw data, what they don’t have is the analytical expertise required to make it actionable and meaningful. This means they may miss out on critical opportunities to pursue desirable prospects. De-identified medical claims data—with volumes, networks and reimbursement-based insights—helps life sciences organizations better position themselves in a changing healthcare landscape through its unique insights into referral patterns, physician alignment strategies, patient volumes, payer reimbursement and market share analysis.
For example, a sales representative for a medical device company is charged with selling an MRI machine and wants to explain how many MRI scans a potential buyer must conduct to break even or to see when the machine becomes profitable. With access to payment details by payer, the representative can better understand the median payment and calculate ROI. They can also find the variance (high and low) and inform the formulary with this data and drive higher contract values.
Download our white paper today to realize the benefit of how medical claims data can create actionable business insights for life sciences organizations.