peter stark
Executive Officer and General Manager
viva compass
Data is becoming increasingly important as more pharmaceutical companies adopt new algorithm-based technologies. Veeva Compass executive Peter Stark, his VP and general manager, discusses how data gives pharmaceutical companies a more complete picture of patient populations and the importance of collecting patient-centric data. We talked to a pharmaceutical company executive about sex.
Pharmaceutical executives: Why is more complete patient-centric data so important in complex treatments?
peter stark: Imagine you are a commercial leader trying to find the right patient for a complex treatment at the right time. Rare diseases and precision medicine may seek out patients who have not yet been diagnosed by a healthcare professional (HCP). The dynamics have changed. You are no longer following a prescription, but are now guided by the patient’s journey of prescription and treatment.
More than one-third of all brands prescribed in the past year appeared on medical claims for in-office procedures, injections, and infusions. However, detailed data on how healthcare professionals prescribe drugs such as cell and gene therapies is a blind spot. So they try to rely on traditional retail data, but they don’t have access to it in a timely manner and end up looking at bits and pieces. We’re trying to find invisible patients and healthcare workers. We need to act quickly to get medicines to patients, but incomplete data is slowing us down.
What biopharmaceuticals need now is speed, not an anchor. They must effectively manage commercial teams and increase their ability to reach new healthcare professionals and patients. The amount of time he had to access data changed from weeks or months to a day or even a few hours.
New patient-centric data on modern medicines now gives the commercial leader complete and timely visibility into prescriptions dispensed in the pharmacy and treatments administered in the office environment.
PE: How can the speed of modern data advance commercial strategy?
Stark: That speed comes from precision and agility. Commercial leaders need more complete and accurate data they can trust. They need to know the specific providers for a specific product or indication, who to target and prioritize, and how many regions and field teams are needed. Commercial operations are under increasing pressure to have the right healthcare professionals in the right locations, which is especially challenging for complex treatments.
Agility is achieved through unlimited and timely access to complete data. This means the data is not stitched together, giving your team an accurate 360-degree view. It seems like a no-brainer, but commercial teams have not had full access until now.
All available data is at your disposal, whenever and however you need it, giving you deeper patient- and provider-level insights that can redefine commercial approaches. We work with companies that set up alerts throughout the patient journey so they can get care to the right patient at the right time. That’s the kind of agility that moves the industry forward for the benefit of patients.
PE: What are the challenges in understanding retail and non-retail prescription data?
Stark:Brands that are medically administered through procedures have been using data showing units sold to a central location, lacking much-needed details about who wrote the prescription or who administered the procedure. I did. Rather than relying on standard data, they rely on field teams to know where their products are actually being used and who is prescribing them, but that method lacks scale and precision. .
Without a complete view, you may not be able to find all relevant patients or identify and contact the true priority providers who are seeing, diagnosing, and treating your patients. The downstream impact is huge. This creates inaccuracies that impact provider targeting, territory alignment, field team sizing, resource optimization, and even incentive compensation.
PE: How does complete access to up-to-date data impact your sales team?
stark: This will bring unprecedented changes to the industry. Sales teams now have complete visibility into anonymous longitudinal patient data, as well as prescription and procedure forecasts at the HCP, HCO, post office, state, and national levels. This enables commercial operations teams to execute quickly and accurately. Right-size field teams, tailor them to your territory, and more accurately alert you to new patients and caregivers.
Without the big picture, a lack of focus can lead to inefficient allocation of field resources and loss of time, especially when there are both retail and non-retail products. Predicted prescriptions and procedures at the prescriber level allows brands to segment and target across complete prescription and procedure activity, as well as at the state and country level for more accurate forecasting, performance, and competitive analysis. prediction is also possible.
New data can guide commercial strategy on how to build sales teams, align headcount to territory, define and measure success in performance, plan for the organization’s future, and more.
This is important because planning your commercial strategy with complete patient-centric data will help you reach more patients in need faster.
