Gaining an Advantage in Med Device Through Market Access Insight Case Study
Pinpointing the Competitive Edge
The managed markets landscape is continually evolving. Even armed with the best data, the medical devices marketplace presents a significant commercial challenge – complex payer relationships, shifting product formulary status, and overburdened care givers. Without accurate data and timely insights, executing a winning Market Access strategy is nearly impossible which is what lead this global mid-cap medical device maker to SHYFT.
Lack of Insight
Our customer’s commercial leadership felt hampered by a lack of visibility into customer accounts – from the national payers to the individual prescribers – with legacy data and reporting systems that were unable to keep pace with the complex, shifting nature of the managed markets environment. It resulted in the following:
- Zero access to segmented managed market data at the geographical, account, and prescriber levels.
- No consistent, timely method to track and communicate formulary wins and changes.
- Poor data execution left managed markets data completely disconnected from sales and marketing insights.
To keep pace with this changing landscape, they needed the next generation of managed markets insights to drive commercial initiatives, and contracting strategy. They needed a partner with managed markets expertise and the technology innovation to synthesize their disparate data sources to create actionable real-time insight.
Today, SHYFT provides the technology platform and expertise our customer needs to fully realize the competitive advantages presented by today’s managed markets environment. SHYFT delivers:
- Integration: The SHYFT platform’s links sales, managed markets, and CRM data into a unified view of the marketplace for all stakeholders.
- Velocity: Provides timely formulary updates through an innovative mobile platform.
- Insight: Delivered account-level influence data to drive marketing strategy for increased commercial effectiveness.
Results with Impact
Facing a marketplace filled with complex, constantly changing prospects and customers, this leading global medical device company now has the accurate, timely analytics to succeed. With more than 4 years of continuing partnership with SHYFT, the company continues to empower their commercial team with actionable, reliable analytics to guide decision-making and drive brand performance.