Attaining 'commercial agility' in data management

It’s common knowledge that most life sciences organizations today are getting better at managing their internal files of customer master data—the names, locations and affiliations of prescribers and other influences on therapy choices. The data is more accessible than ever, and the importance of treating internal records of this market data are better recognized. But, according to a recently published white paper from LexisNexis, the state of the art is moving ahead quickly.

And all this is happening at the very time when “no see” physicians and other restrictions on prescriber access are changing practitioners’ information needs. “They want your message, they just don’t want your messenger,” is how LexisNexis summarizes the situation.

The better-performing life sciences companies have a grasp of their internal data, including elements like these:

• Payers, including information on capitation rates and bundled payments
• Member data on patient provider teams, conditions and outcomes
• Provider data, including details on readmissions, hospital-acquired conditions and provider/practitioner reviews and ratings
• Claims data on doctor visits, surgeries, procedures, diagnoses and longitudinal studies
• Other market data, such as promotional spend, sales, prescriptions, inventories and details on the structure of health care networks

According to LexisNexis, though, additional external sources can add important value to prescriber and patient profiles, including such factors as:

• Public records of residential, education and employment information on patients and providers
• Criminal, disciplinary and spend transparency data on provider activity
• Social media data—from familiar sources such as LinkedIn, Facebook and Google+, offering insights to prescriber and patient sentiments
• Journal articles and other content, plus information from forums, associations and other online assemblages

As a vendor in this space, LexisNexis offers to bring these types of data together, as well as to cleanse, aggregate and visualize the data in forms that make it useful for business managers. LexisNexis terms this capacility “commercial agility.” LexisNexis services include:

• LexisNexis Provider Data MasterFile, the industry’s most comprehensive and accurate source of provider information
• LexisNexis Provider Data Enhancements, a combination of a comprehensive referential provider database and specific cleansing and data enhancing services
• LexisNexis Provider Data Validation, which offers real-time processing of internally specific and industry-driven business rules in line with high-volume business processes
• LexisNexis Agile Data Management, the industry’s premier hosted real-time data management and analytics solution

For more information , see the white paper posted here.