pharma kpi as market pressures demand increased innovation and shorter product lifecycles
TRANSCRIPT
Pharma KPI As market pressures demand increased innovation and shorter product lifecycles
As market pressures demand increased innovation and shorter product lifecycles, pharmaceutical companies are evaluating alternative business models, focusing on technologies – such as business intelligence (BI).
Key Performance Indicators (KPIs) help Pharma corporations highlight successes and identify program areas for continuous improvement, which helps provide a picture of its pharmaceutical benefit management operations. These critical components of any Pharma business intelligence platforms deployed is to assist pharmaceutical companies to realize the accurate, relevant information that can make the difference.
PAPER OVERVIEW
WHAT IS KPI?
WHAT IS KPI?
In simple words, Key Performance Indicator (KPI) is a measure of something that is strategically important to the business.
KPI Identification Guideline
KPI Identification Guideline
Work with the business to determine the KPIs and where they fit in the overall business process Identify the process owners to determine how the KPIs should be grouped Work with IT to determine data sources Work with the business & IT to determine any common coding structures (Part numbers/GL codes etc) Work with business & IT to document any standard business calculations (e.g. Gross Margin, etc.) to
build the data dictionary Identify data and its relationships to other data, logical groups & sub groups required for analysis and
drill-down
Pharma KPI - Samples
Pharma KPI - Samples
Financial Overall Drug Trend Identifies drug trends over time. Aids in formulary reconstitution
and management
Category KPI Value Add
Pharma KPI - Samples
Financial Average Prescription Cost Tracks average cost per prescriptions for generic, branded
and specialty drugs. Forecasts cost incurred in new
enrollment scenarios. Delivers a complete perspective of
drug usage through representations for each therapeutic category
Category KPI Value Add
Conclusion
Conclusion
Today, a successful company is not measured by the data it produces and stores, but how it measures and uses that data for ongoing business operations. KPIs play a critical role in that process – if you wait to react, your peers could outperform you.
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