Optimizing Specialty Channel Design
Developing a winning specialty channel design is critical now and can be quite challenging as life sciences manufacturers must rely on new data sources for business intelligence to maximize outcomes for the brand and to maintain a positive patient journey.
Challenge: Most life sciences manufacturers start their specialty pharmacy strategy by reviewing 867 data to understand the specialty pharmacy landscape and historical performance. However, there are several challenges with leveraging 867 data. First, large portions of the specialty pharmacy market are redacted, making it difficult to know which pharmacies are filling what percentage of the scripts. Secondly, 867 data does not include competitive products or market basket information.
IntegriChain Solution: Specialty Pharmacy Index solves this problem by providing manufacturers with 100% visibility to the downstream specialty providers. It also enriches the datasets with competitive market basket performance data so that channel strategist and marketers can see the share of the overall national or regional marketplace each specialty pharmacy manages.
Challenge: Specialty markets change rapidly due to consolidation, competition and payer controls, requiring Trade and Marketing teams to proactively adjust their specialty pharmacy networks over time. This requires that the teams understand where business is shifting and trending between pharmacies for both its own product and for competitors.
IntegriChain Solution: As the Specialty Pharmacy Index is refreshed on either a monthly or quarterly basis, channel designers have a clear line of sight into the trends and performance of their network over time and more importantly, have empirical diagnostic tools to pinpoint underlying issues.
Challenge: Specialty pharmacy prescriptions are under-reported by third-party data syndicators.
IntegriChain Solution: Specialty Pharmacy Index resolves frequent difficulties with sales reporting and account manager credits by providing an accurate view of pharmacy utilization at multiple levels of the account hierarchy (parent, junior parent, and outlet location).
IntegriChain’s Specialty Pharmacy Index is an enriched channel data solution that provides unprecedented market insight to maximize channel strategies and network design.
Specialty Pharmacy Index shapes specialty distribution strategies by identifying the most qualified pharmacies to enhance provider experience, patient adherence, and therapeutic outcomes. Whether launching or expanding a specialty pharmacy network or converting a product from retail to specialty, Specialty Pharmacy Index offers unrivaled access to market data and benchmarks to determine:
- Is your specialty channel strategy ready for launch?
- Which pharmacies will make your network a positive experience for patients and providers?
- Which specialty pharmacies fill the most scripts for your product category?
- Which innovative retail pharmacies are successfully dispensing for your specialty category?
- Are your field reps receiving appropriate credit for sales through specialty/independent pharmacies that don’t report to data syndicators?
- Blog: Trends in Specialty Pharmacy Channel Design – Takeaways from Asembia Specialty Pharmacy Summit
- Press Release: IntegriChain Launches Specialty Pharmacy Index to Shape Specialty Channel Strategies and Network Designs
- Specialty Pharmacy Index
Contact us today to learn more about how IntegriChain can help you optimize your specialty channel design: 609.806.5005