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Are You Leveraging All Sources of Specialty Product Data?
Jun 08, 2021
Specialty manufacturers know the stakes are high when it comes to new patient starts and adherence. Specialty therapies typically demand more complex distribution and more hands-on administration to patients. They’re also much more expensive than traditional drugs. In fact, a single adherent patient can equate to multimillion-dollar revenue.
How can specialty manufacturers find the right patients and guide them on an effective journey?
Data is a big part of the answer. But just as these therapies can be complex, so can the process of navigating specialty data dynamics.
The Specialty Data landscape
Across the board, the pharmaceutical industry has witnessed significant growth in the availability of patient data across the healthcare continuum – from labs, EMRs, medical claims, pharmacy claims, and patient assistance information, to data from alternate sites of care, digital apps, and social media. The specialty data landscape is no exception.
When specialty manufacturers first think about data, they typically focus on what’s available from specialty pharmacy providers and patient services hubs. Without question, those are both excellent sources once a patient has been referred to a specialty product. However, there is also value to be found in more traditional distribution channels, including distributor, specialty distributor, ex-factory, and 3PL data. While these sources won’t shed much light at the patient level, they do provide other critical insights about where a product is going, who is buying it, how much they’re buying, and whether those purchasing patterns are changing over time.
Beyond those sources, consider the wealth of patient data available through other resources such as providers of patient support and copay programs, claims processors or syndicated data providers that can provide claims data, and other third parties (e.g., labs, EMRs).
There are also rich sources of patient adherence and experiential data, such as nurse educator services or even manufacturer patient call center services. And if a manufacturer or its partners are using digital assets or services to engage patients, those, too, can provide a wealth of insights into an individual patient’s journey.
Navigating the complexities
From a distance, it’s easy to see that this “forest” of data can provide rich insights to deeply evaluate and guide the patient journey. But move closer and it’s easy to get lost in the “trees”: the complexities not only of linking all this data, but also doing so in a HIPAA-compliant manner and protecting the patient and users of the data. This is where a highly experienced guide, in combination with a proven platform, can be invaluable.
In my next post, I will explore the six stages of managing specialty data – Data Planning & Strategy, Data Acquisition & De-identification, Data Aggregation, Data Integration, Reporting & Analytics, and Data Delivery – and some of the ways IQVIA and ValueCentric help specialty manufacturers navigate them.
To learn more, to listen to the ValueCentric webinar, Specialty Services Overview.
Hunting for Specialty Therapeutics Patients?
Pharmaceutical companies developing specialty drugs need detailed data about patients, their physicians, and healthcare organizations to ensure commercial success.