Market Access Analytics Pharma Companies Benefit from Every Day
WhizAI’s augmented consumer platform for life sciences helps overcome challenges related to market access analytics. Pharma companies use WhizAI to analyze data that helps ensure patients have access to the right medications and treatments at the right price. The platform also helps companies stay on top of changes in out-of-pocket payments, formulary exclusions, new accountable care and integrated delivery models, and payers shifting to value-based payment
With so many factors that can impact a market access team’s best next steps, life science analytics consumers need quick access to data insights. However, insights at the speed of business are not possible with dashboard solutions that require weeks or months for analysis. With WhizAI as an alternative or complement to dashboard solutions, market access teams don’t have to wait for the answers they need.
Why Choose WhizAI for Market Access Analytics
WhizAI is easy to use, even for people who don’t have data scientist in their titles. WhizAI’s natural language processing (NLP) allows market access team members to ask or type questions conversationally to get contextual insights.
Our platform is pre-trained for life sciences, so pharma companies can deploy it quickly and allow the market access team to begin using the solution with minimal training. Users don’t need to learn a list of predefined keywords or search formats. WhizAI understands the space and common acronyms, such as AERS, HCPCS, and TPP, and provides relevant results.
- Less dependence on IT:
WhizAI allows users to create their own dashboards in a no-code environment. They can choose visualizations that enable them to focus on what’s most important in a format that’s easiest for them to understand.
- Access with just a click:
Pharmaceutical companies can embed WhizAI into their market access software or collaboration solutions to make it easy to consult data before making decisions in their day-today workflows.
Case Study: AI-Powered Platform Provides Market Access Analytics, Pharma Self-Service Insights
WhizAI’s augmented consumer platform for life sciences gives market access teams the visibility they need into the patient journey. Before deploying WhizAI, one global pharmaceutical company used predefined dashboards that provided limited access to information on payer and plan performance, revenue leak, and competitor activity. The dashboard solution also interfered with the IT team’s productivity. With over 500 million records in payer data alone, running reports was resource-heavy and time-consuming. The company also struggled with scalability and user adoption.
WhizAI allowed the company to scale immediately to analyze 3 billion data records and reduce its dependence on IT by 60%. Furthermore, users could access insights on demand, building data-driven decision making into their workflows. The company estimates a five-fold improvement in productivity as virtually no time is spent on extensive analytics training or searching through dashboards and reports for vital information.
The company also implemented WhizAI across field sales, commercial operations, and patient services after the platform’s success in providing market access analytics. Pharma companies gain the advantage of real-time insights into market opportunities, early alerts of threats, and reduced total cost of ownership with lower reliance on expensive programming resources and continued investment into legacy solutions.
Augmented Market Access Analytics: Pharma Company Benefits
WhizAI integrates seamlessly with the business applications pharma enterprises use, enabling quick analysis of billions of data points from primary and secondary sources and scaling as data volumes grow. WhizAI also includes enterprise security features, including multifactor authentication (MFA), to ensure only authorized users access the company’s market access analytics. Pharma companies with a global presence benefit from the platform’s multilanguage capabilities as well.
Anytime, Anywhere Insights
Market access teams can use WhizAI when working at their desks on a PC, on the road using laptops or mobile devices, or on a smartphone before a meeting or presentation. WhizAI is designed to be as easy to use as a social media platform or app. It doesn’t require learning how to manipulate the technology behind the AI-driven platform. Rather, users can ask questions whenever or wherever they need them and receive the relevant, contextual answers they need.
Data Culture Growth
With WhizAI tasks become easier, including calculating value based on payer data, communicating that information with R&D and partners, and drilling down into data on a specific country or region’s market access analytics. Pharma companies that deploy WhizAI see user adoption of 90% or more as users experience how easy and beneficial it is to use data insights in their daily workflows
With increased transparency into dynamic pharma payer, provider, and patient trends, market access teams make informed decisions and develop a strong commercial strategy that leads to greater market penetration and increased revenues and profitability.
With data insights from WhizAI’s market access analytics, pharma companies can begin to develop a product value story from development and clinical trials to commercialization. Data informs decisions step-by-step to result in greater brand awareness, lower risk, optimized pricing, and effective marketing.
Learn more about the intelligent way to equip users with market access analytics. Pharma companies can join a weekly demo to see WhizAI in action.
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