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.
Omnichannel Marketing is Widely Used With Clear Benefits and Will Become More Essential in the Months to Come
Today, omnichannel marketing is largely accepted as a necessary and effective way of marketing and selling within many industries. With the advent of the COVID-19 pandemic, social distancing, and shelter-in-place mandates, the use of digital channels has increased. In fact, online order volume from grocery merchants rose 210.1% from March 12 through March 15, 2020 compared with the same period a year earlier (per Rakuten Intelligence data).
The healthcare industry finds itself at the center of the coronavirus crisis, especially in terms of how patient care is managed and delivered. Meanwhile, most other companies are fathoming the reality of operating in the current uncertain and virtual world. Teladoc, a telehealth provider app in the US, reported 100,000 visits in seven days in March and a 24% increase in respiratory diagnosis compared to a year ago.1 Visits to doctors' offices have gone virtual. The latest data reflects continued growth in total retail prescriptions relative to 2019. Patients aged 65-plus show both sharp increases in prescription demand and continued therapy rates in recent weeks,1 driven by the need to stock-up on their prescriptions.
We are proud to share that Axtria has made NJBIZ’s Fast 50 list of the fastest growing companies in New Jersey. It is our fourth year on the list, and we are ranked 11th for 2017.
Axtria is extremely proud to rank in Crain’s New York Business Fast 50 List for 2017. The ranking highlights the city's 50 fastest-growing companies with its annual Fast 50 feature. It celebrates the success of innovative companies and recognizes their business strategies and accelerated revenue growth.
Some of the most rewarding work we are involved in at Axtria right now is in the Health Economics and Outcomes Research (HEOR) space, where we are partnering with our clients to help demonstrate the value of their medications and get them to the patients who need them. Challenges in the healthcare space—including rising costs, an aging population, advanced technology, and increased patient awareness of medical options—have resulted in an increase in evaluating medications from an HEOR perspective. Through our modelling and analytical work, we work with clients and key opinion leaders (KOLs) to identify which patients would benefit from various treatment options and the impact those treatments could have on patient health.
The final countdown to the Veeva Commercial Summit has begun and we are only a few days away from one of the most exciting events on the pharma calendar. This year, besides our interesting lineup of activities at our booth we have a very compelling Commercial Excellence Survey report to share with you. We recently conducted this survey to understand the current state of commercial excellence across the industry.
Axtria is excited to be back as a gold sponsor at the Veeva Summit 2017. This is always one of our favorite events of the year, with so many industry professionals and Veeva experts together in one place. We hear there will be more than 1,200 of us this year in Philadelphia, which just highlights the significance of this event and the themes covered.
We always save the best until last, and PMSA 2017 is no exception. On Wednesday 26th April, we will conclude the conference with an insightful presentation from Asheesh Sharma and Vineet Rathi on Data Strategy and Governance: A Strategic Enabler of Next Generation Analytics and Insight Driven Commercial Excellence.
Following up on our busy agenda for PMSA 2017, on Tuesday April 25th we have Ashish Sharma and Cheng Wang answering the question “Can Social Media Data Improve Sales Forecasting?”.
