Pharmaceutical manufacturer turns data into action using no-code application development
Less than 4 weeks for no-code application design and deployment
150% increase in income for the top application users
23% increase in revenue since partnering with Optymyze
A national pharmaceutical manufacturer had enjoyed strong sales since partnering with Optymyze in 2015, but it wasn’t willing to rest on its laurels. In search of opportunities to increase market share and penetration, the company’s leaders began looking to supercharge their growth through further refinement of their sales operations.
In particular, one proprietary drug was suffering from underperforming sales, largely because generics were frequently the only option that insurance would cover for this medication’s potential patients. That left salespeople hurting even when they had connected with doctors who wanted to use the new treatment; the doctors had attempted to prescribe it, only to be repeatedly denied by the insurance companies.
At the same time, a lack of visibility into sales opportunities meant reps were missing chances to connect with potential customers. All the elements of success were in place, but they weren’t yet connected.
The pharmaceutical manufacturer leveraged the Optymyze platform to develop a no-code application – Managed Care – that lives within the larger Optymyze solution. By integrating standardized industry data streams with company plan and subscriber data, the application combines an extensive database of prescriber and insurance information with a simple yet powerful interface.
A combination of pre-call planning and sales coaching, the application is all about turning data into action. It helps sales reps identify not only doctors who have previously prescribed their medications, but also those who have a strong potential to prescribe them.
Managed Care helps sales reps hone their messaging, handle objections, and plan calls to maximize sales opportunities – all at a glance. Rather than sitting in a single doctor’s office for extended periods, only to end up in the intractable position of insurance denials, the reps now focus on offices with multiple prescribers and higher densities of potential patients.
Moreover, the standardized, code-free nature of the application means that it is now an off-the-shelf solution with rapid time to value – so it is ready to investigate opportunities for any medication in any region with minimal setup time. The application design, configuration, and deployment took less than four weeks. Any pharma enterprise is now able to implement it using Optymyze and receive instantly actionable, growth-driving analytics.
Since the launch of Managed Care, the reps who have used it most heavily have seen a 150% increase in earnings.
Managed Care has been a major driver of behavioral change for this pharmaceutical company’s sales team. Its wide range of insights for lower-performing salespeople to catch up with their higher-performing peers led one top rep to say, “You guys have leveled the playing field; now I’m going to have to work harder to keep my advantage.” And, of course, the manual work that some reps used to put into individually performing competitive analysis has been eliminated.
Since the launch of Managed Care, the reps who have used it most heavily have seen a 150% increase in earnings, while doctor visits have become more productive by leaps and bounds. The result is a medication that’s reaching more of the patients who need it – and a company that’s seen its revenue rise by 23% during its engagement with Optymyze.