Axtria Blogs

Axtria Blogs

Are Pharma Companies Prepared to Improve Dramatically How Economic Dynamics are Incorporated into Commercial Analytics?

Are Pharma Companies Prepared to Improve Dramatically How Economic Dynamics are Incorporated into Commercial Analytics?

 

“U.S. Economy Sees Record Downturn” 

The headline on the record drop in U.S. GDP for Q2 2020 at an annual rate of 32.9% and 9.5% from the previous quarter, The Wall Street Journal, print published July 31, 2020 [1]. 

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#AxtriaWorksFromHeart - Amy

Meet Amy, the sweetest employee you could ever know! This bubbly personality is known as “the face of Axtria,” and keeps the positive vibes and the organization high. Read her inspirational story as she shares how Axtria is providing her a platform of continuous growth. #AxtriaWorksFromHeart.

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Axtria Works from Heart - Inspiring Story

#AxtriaWorksFromHeart - Sandeep

Meet Sandeep – a valued Axtrian whose drive to learn, ability to provide customer value, and love for collaboration helps him thrive within the company. Check out how this inspirational Axtrian #WorksFromHeart.

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How Should Pharma Companies Prepare for Future Price Controls

How Should Pharma Companies Prepare for Future Price Controls?

Many in the pharma industry currently fear that the broad use of price controls, once thought of as being theoretical and a remote possibility, is now an inevitability. This author has previously noted in articles published on the Axtria Research Hub that the imposition of price controls represent an existential threat to the industry. The political forces that once shielded the industry from the imposition of direct price controls for federal reimbursement on programs like Medicare have been severely weakened. The imposition of such federal program controls will effectively spillover into private insurance markets.

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Covid-19 impact on Pharma Commercial Models

Impact of COVID-19 on the Commercial Models of Pharmaceutical Companies in the US

 

“The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger--but recognize the opportunity.” 

John F Kennedy

The US pharmaceutical industry, which is racing to develop a vaccine to beat the novel coronavirus, is facing never-before-seen challenges. The hurdles include public policy mandates (e.g., shelter-in-place orders and closing of non-essential businesses) and sweeping restrictions placed on industry representatives from entering offices and hospitals to meet healthcare professionals (HCPs). These policy mandates and restrictions are causing pharmaceutical companies to rethink their go-to-market strategy.

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More Evidence of a COVID-19 Induced Accordion Recession Cycle Effect – Why Pharma Companies Should Be Concerned

“VIRUS WIPES OUT 5 YEARS OF ECONOMIC GROWTH” 

The headline on the record drop in US GDP for Q2 2020 at an annual rate of 32.9% and 9.5% from the previous quarter, The New York Times, print published July 31, 2020.

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Machine Learning (ML) Driven Segmentation & Targeting Of Physicians

Machine Learning (ML) Driven Segmentation & Targeting Of Physicians

With the increase in the number of touchpoints for a Healthcare Physician (HCP), it has become more important for pharmaceutical companies to personalize marketing efforts at the HCP level. Segmentation forms the backbone of customized marketing and is a critical step in converting brand strategy into actionable tactics. A robust segmentation process enables effective targeting – a potential group of customers receiving communication through preferred channels from the pharmaceutical companies.

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How Will The Accordion Effect Impact Your Brand Performance In Q4-2020 And Q1-2021?

Will the recovery of local economies from the coronavirus pandemic take the shape of a V, U, Nike Swoosh, or W? The “W” shape is gaining more acceptance from economists as they consider the recession at a national level.1,2 Here we consider the possibility that local economies may go through an "Accordion Effect": a series of W’s as they navigate the next several quarters. Each of them waxing and waning differently; an ensemble of accordions.

On June 27, 2020, CNN reported the somber news that five states: Florida, Georgia, Tennessee, and even significantly low population density states like Utah and Idaho recorded their highest number of coronavirus cases in one day. Global deaths have reached half a million. 125,000 people have died in the United States.

Over the last several months, federal, state, and local governments as well as individual towns have made difficult decisions around applying and relaxing restrictions around social distancing to curb the spread of the pandemic. Leaders have been in the unenviable position of making difficult tradeoffs between sustaining public health and protecting the healthcare system from unmanageable spikes in COVID-19 cases, versus ramifications on the social and economic wellness of the population.

As of today, there is no vaccine or effective treatment for COVID-19. It is not known with certainty when one will be available. The approach of the fall and flu season will likely bring added burdens to the healthcare system with a further surge in COVID-19 cases. The degree to which these impacts happen will differ from geography to geography. A myriad of factors will affect the geographic variation in COVID-19 cases, including differences in policy decisions and the compliance of local populations to those policies and guidelines.

One likely possibility is that different geographies will go through an “Accordion Effect,” experiencing multiple cycles of reopening, reclosing, and reopening again until a vaccine becomes available, and the world starts recovering and moving toward a new equilibrium. The impact on local economies is also likely to oscillate during this uncertain period, as employers make decisions that shift in risk-appetite over time based on how their industry sector is evolving.

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How Axtria Continues to Thrive Amidst the COVID-19 Pandemic and Resulting Recession

How Axtria Continues to Thrive Amidst the COVID-19 Pandemic and Resulting Recession

The following blog has been written by Shikha Singhal, Axtria’s People Practices leader. Shikha is passionate about building positive workplaces that exude success, happiness, and pride. During the COVID-19 pandemic, she has endeavored to ensure Axtrians remain productive, motivated, engaged, and connected.

There is no denying that these are unprecedented times, times of high stress, and uncertainty across the globe. Unemployment rates are at an all-time high. There is vast distress resulting from delayed or deferred decisions and processes – be it in hiring or onboarding or performance appraisals. The pandemic is forcing businesses across the globe to slow down with the consequent impact on employee morale and overall workplace culture.

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Medical Device Sales Operations

Top Three Opportunities For Medical Device Sales Operations

The commercial ecosystem of the medical device industry is an intricate one. Medical device sales teams constantly watch out for opportunities across the sales process, beyond the overarching life sciences commercial protocol (salesforce structure and deployment, sales activity design, incentive compensation, and operations outsourcing). These intricacies arise from various factors, like the heavy dependence on sales reps, mechanics and scale of the products being sold (sometimes complete health solutions), diversity of the stakeholder entities involved (from market influencers to centralized purchasing teams), and back and front-end supply chain fallouts. Here are some examples.

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