Amongst a backdrop of changing regulations, industry consolidation and declining access, many life sciences companies are placing an even greater emphasis on managed markets. Many are combining managed care and customer operations into a single group responsible for contracting, pricing, distribution, account management, managed care marketing and operations, as well as company access to care programs.
While operations have been combined, field-based teams that interact with and support managed markets customers continue to need mobile, on demand access to a wide range of data. They include:
- Field Reimbursement Managers
- Hospital Systems Account Teams
- Payer Account Management Teams
- Government Account Managers (GAMs)
- Channel Account Managers (CAMs)
- National Account Managers (NAMs)
- Employer Account Managers (EAMs)
For a large company with comprehensive coverage this group can number over 500 individuals, all with varying degrees of focus and responsibilities. Traditionally each individual or group has had to rely on separate tools such as CRM, Financials and separate data warehouses and spreadsheets to pull together the information they need to effectively deliver on their goals. There hasn’t been an integrated way to view data, related and relevant to their objectives through a single authoritative application … until now.
BRING ALL DATA TOGETHER, RELIABLY
Reltio’s data-driven KOL Management application brings together data from multiple internal, third-party, public and social sources to identify key influencers and to uncover relationships, not just between people and organizations, but products, locations, publications, activities and transactions. Information is continuously cleansed, correlated to form a reliable data foundation for all the variables needed to rank KOLs.
GET RELEVANT INSIGHT TO THE RIGHT TEAMS
With data blended into one place, teams can get visibility to payer organizations with hierarchies, channels, regions, and plans and memberships. They can understand how contracting is done in payer organizations, be aware of their product’s formulary status as compared to competitors products by tiers. And see clearly how plans and payers are interrelated with HCOs/HCPs.
COLLABORATE ACROSS TEAMS, IN REAL-TIME
KOL Management is not just the responsibility of the marketing or brand teams. It’s an enterprise-wide focus. Finding the right KOLs requires access to a convergence of information, with the proper level of role-based access and visibility. Reltio provides built-in annotating, tagging, and voting on data, so every member who has knowledge of KOLs can contribute, and continuously improve tribal knowledge about candidates.
START FAST, MOVE FASTER
You can rapidly deploy a KOL Management application specific to your industry and domain focus in weeks. Reltio’s Data as a Service partnerships with third-party providers such as DarkMatter2BD, offer the best affiliation data in the industry. KOL rankings can be rapidly aligned nationally by territories, and made available by sales region down to the area/district for rapid identification of replacements if needed.
FOLLOW TRENDS AND ADJUST
Track KOL ranking changes through a longitudinal look at increases and decreases in KOL achievement over time. Similar to the way physicians are tracked by new and total Rx share changes, KOL ranking changes over time can be used to identify the KOLs that are the most prolific thought leaders.
BE COMPLIANT AUTOMATICALLY
Reltio’s powerful built-in auditing and tracking features, guarantee compliance, and a historical trail for any data merged or updated. Reltio’s fine-grained clickstream analysis can even be used to alert you to abnormal data viewing patterns by application users for possible information breach or theft, or used for compliance and efficiency training of how to best use the applications and the data.
10 Steps to GDPR Compliance
Effective May 25, 2018, General Data Protection Regulation (GDPR) will represent the most rigorous data protection regulation ever. Complying is not optional, and the penalties are very high. As companies scurry for total compliance, it makes sense to pause, assess, and use this opportunity not only for compliance but for managing customer data efficiently and gainfully.
MACHINE LEARNING PUTS DATA FRONT AND CENTER FOR BUSINESS
Machine learning is surrounded by fascination and awe. It can drive better personalized experiences with customers, increase workforce effectiveness, and de-risk your organization from security threats and regulations. But, machine learning needs quality data, relevant data, and better context surrounding transactions, interactions, operations and decisions.
Businesses Feeling the Heat of the ‘Amazon Effect’
Over the past 10 years, Amazon’s market value has grown more than 2,000 percent. The entire retail industry is feeling the heat, and companies are investing in digital transformation initiatives to help them compete. Walmart, for example, is rapidly investing in digital capabilities and online brands (it acquired Jet.com, for example).
WHY MASTER DATA MANAGEMENT AND MACHINE LEARNING GO HAND IN HAND
Reltio’s inclusion in the The Forrester Wave™: Machine Learning Data Catalogs Q2 2018, by Michele Goetz with Gene Leganza, Elizabeth Hoberman, and Kara Hartig, Forrester Research, June 2018, sparked (pun intended) several questions. Such as why was Reltio included, how did we receive such strong marks, and why were we the only Master Data Management (MDM) vendor in the Wave?