In recent years the Healthcare and Pharmacy sectors have undergone significant change, stemming in large part from the Affordable Care Act and its domino effect on the health insurance market, number of insured, digital health record compliance, and changes in Medicaid and Medicare, among other factors. The most profound event, however, involves the proliferation of healthcare and pharmaceutical choices for a growing number of individuals insured through employer-administered health plans and the millions of individually-insured patients, who are now patients-as-consumers.
In addition, from a purely business perspective, it’s important to note how much the ongoing success of healthcare providers and pharmacies will be affected by big data in the future. Consider the fact that the Organization for Economic Cooperation and Development — or OECD — estimates that 55 percent of global wealth is currently in the form of knowledge and intelligence.
Every single day, the world’s healthcare providers and related businesses must find a way to contend with an extra 2.5 trillion bytes of data. Clearly, healthcare market intelligence is as important to an enterprise as its scientific knowledge.
In this light, it’s understandable why the peer-reviewed paper “Competitive Intelligence in Health” points out that competitive strategies in the health sector need to take a business approach — one that maximizes the ability of an organization to capture and analyze information that will help it distinguish itself from its competitors — to be truly successful in the long run.
Healthcare Market Research
Healthcare providers, specialists, insurance companies, pharmacies and pharmacy benefits managers (PBMs) must re-evaluate their core business strategies and incorporate competitive intelligence practices to pivot toward more value-based business models. If you’re responsible for competitive intelligence, market strategy, or market research in the healthcare and pharmacy systems field, this is an opportunity to address compelling evidence that your business is an impacted entity.
Healthcare Market Intelligence
As a world leader in competitive intelligence and competitive monitoring, Proactive Worldwide can help your business respond to these permanent changes, gain competitive momentum, and achieve a sustainable decision-support process to steer your business in the right direction toward positive growth. PWW’s doctorate-level Analyst Team has decades of deep experience in healthcare and pharmaceutical engagements, leading 200+ projects in the past three years alone, and our research team has deep intelligence gathering expertise through primary research.
In our work, we deploy a deep level of subject matter expertise across the quickly changing US healthcare system to understand the market, delivering PhD-level analysis anchored by comprehensive research. To provide impactful insights and implications for your business with recommendations for next steps, PWW’s input sources comprise the following:
- Primary Research, including competitor staff, client personnel, investor community, and payers/PBM information;
- Secondary Research, including open-access articles and news, social media search tools, primary literature, and import/export databases; and
- Conference Monitoring. All of these resources are customized to meet your specific business intelligence needs.
Our Healthcare and Pharmacy System services include the following:
- Pharmaceutical monitoring services
- Strategic intelligence to support movement from fee for service to value-based care models
- CMS Stars ratings and their influence on payers in the Medicare/Medicaid landscape
- Channel strategy, including retail, specialty, and mail order pharmacy
- Pricing, market access, formulary strategies including influence and integration of PBMs, payers, and drug manufacturers
Like Proactive’s Pharma and Biotech and Medical Device consulting services, our ultimate goal is to help your business create and sustain a best-practice driven strategic insight decision and forecasting support system to help your business thrive and increase market presence.
Healthcare Competitive Intelligence
Recently, the divide between science- and business-related intelligence for healthcare providers and pharmacies has been growing narrower. At Proactive Worldwide, our expertise in both sectors is why we’re a trusted leader in the healthcare industry for organizations seeking the best in comprehensive competitive intelligence — or CI.
Take, for example, the current challenges facing an organization that’s looking to develop a new treatment, build a new hospital or enter into a merger and/or acquisition. In all of these circumstances, success used to be merely a matter of having the medical and therapeutic capabilities to serve the public’s needs. Today, however, that success can also be tied to marketing, research, licensing and labor concerns.
These needs are why choosing us as your healthcare market intelligence consulting firm is such a forward-thinking and prudent decision. In a competitive landscape that shows no signs of slowing down, you need CI services that will systematically report on how the commercial potential of your enterprise can be affected by everything from regulatory and licensing issues to competitors’ partnerships and market entries.
Proactive Worldwide — Leading the Industry in Healthcare Market Intelligence Consulting
As a leader in healthcare market research, our CI services have made us the premium choice for organizations looking for knowledge, insights and recommendations that are equally informed by all relevant drivers in the industry. It’s also why our proprietary research methods are currently engaged in projects in several countries across all major industries.
From covering medical conferences with our expert, Ph.D. level staff to keeping our finger on the pulse of M&As in your vertical, we’ll provide you with the intelligence you need to take appropriate actions before your competitors do. The result is that with advanced knowledge, your programs, initiatives and overall organization are far more likely to align with your market’s needs and meet with success.
To learn more about our healthcare competitive intelligence services, contact us today.