Pharma KPI As market pressures demand increased innovation and shorter product lifecycles

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Pharma KPI As market pressures demand increased
innovation and shorter product lifecycles
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PAPER OVERVIEW
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.
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WHAT IS KPI?
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WHAT IS KPI?
In simple words, Key Performance Indicator (KPI)
is a measure of something that is strategically
important to the business.
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KPI Identification Guideline
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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

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Pharma KPI - Samples
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Pharma KPI - Samples
Category KPI Value Add
Financial Overall Drug Trend Identifies drug trends over time. Aids in formulary reconstitution and management
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Pharma KPI - Samples
Category KPI Value Add
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
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Conclusion
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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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