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Executive summary
Life sciences organizations often miss their sales estimates due to medication non-adherence, high patient drop-off rates, or patients frequently switching to competing brands. Solving these challenges has been a major goal for pharmaceutical organizations for decades. In fact, studies show that 50 to 60 percent of patients with chronic illnesses miss doses, take the wrong doses, or drop off treatment in the first year. 1
Advanced analytics in life sciences is emerging as a powerful solution to address these persistent commercial and adherence challenges, offering data-driven visibility into patient behavior.
So, what does it take to improve adherence rates, sustain the sales trajectory and stay ahead in the race?
By analyzing integrated patient data using advanced analytics in life sciences, organizations can segment patients based on a range of pre-defined parameters and design tailored interventions to support them – improving adherence levels, reducing drop-off rates, and eventually increasing brand sales.
With the right application, companies can also simulate adherence impact scenarios and fine-tune engagement strategies.
This infographic highlights how life sciences organizations can use advanced analytics in life sciences to leverage patient data for improved outcomes.
References
1. McKinsey & Company. Improving patient adherence through data-driven insights. Dec 14, 2018. Available from: https://www.mckinsey.com/industries/life-sciences/our-insights/improving-patient-adherence-through-data-driven-insights
Authors
Vinod Badami
Nellai Srinivasan
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