Small shifts in categorization methods and marketing perceptions can very well make the difference between a successful drug launch and a failing one. It is without a doubt a time of patient-centric approaches to marketing and data analysis in the pharmaceutical industry, and this applies to the way we organize and categorize our data sets as well.
If you’re about to launch a new specialty drug to the market, you probably know a successful drug launch has to be based on well-established market tracking stats, and like many other market researches, this one is also traditionally focused on the supplier’s view. Let’s take the categorization of physicians for example: physicians are mostly organized and segmented in the traditional way, that is, by TRxs. According to this approach, the physicians perceived as the most valuable to the company are the ones described as high prescribers.
The New Patient-Centric Approach
However, in specialty pharma, the patient-centric approach is offering a new way to look at this segmentation, by using APLD (Anonymous Patient Level Data), which basically means tracking patients Rx starts longitudinally (LRx). This provides a more accurate tracking measure of physicians that most likely would be motivated to switch to your new drug, even when they’re not necessarily considered to be high prescribers.
Switching from the supplier’s view point to a patient-centric approach gives you an edge in the new Pharma market, and allows you to prepare for your next drug launch with the very best data in hand.
How should you successfully prepare for your drug launch with the Patient-Centric Approach? 3 Tips!
To help you do just that, we’ve come up with 3 key tips to keep in mind when launching a new drug in this increasingly competitive market:
- Track progress weekly among all patients segments to see whether promotional programs are on track, to maximize the effectiveness of your launch.
- Divide and segment the results by type of customers: patients new to therapy; those already on high strength medication; those switching from competitive brands, etc. compare your results with those of your competitors.
- Target prescribers treating the most new-to-therapy patients (since they’re probably more prone to try new drugs, as opposed to those patients already accustomed to other forms of therapy).
Verix’s LRx Analyzer- your solution to a successful patient-centric drug launch
To execute these tips, Verix offers its cutting edge solution that uses APLD to track patients over time. This application allows pharmaceutical companies to analyze patient Rx starts and restarts, specifically switches between brands; the LRx analyzer can help determine if the high value prescribers are as valuable as the high volume writers, and allow for adjustments to the launch strategy in real time.
With the LRx analyzer, you can reprioritize physicians in the call plan, according to their potential value as prone to prescribe your new drug, and de-prioritize those physicians not prone to prescriber new drugs- thus increasing sales substantially.
Real time analytics can help your company meet its sales forecast as fast as within 12 weeks of launch! Join the new model of business intelligence and marketing strategies and adapt to the new patient-centric approach. It might be the very solution to make your launch succeed.
Original article: http://verix.com/a-patient-centric-approach-to-a-successful-drug-launch-3-tips-on-how-to-do-it/