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Breaking New Ground with a Next-Generation Segmentation Solution
Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Healthcare & Hospitals
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Predictive Maintenance
Services
- Data Science Services
- System Integration
The Challenge
Halyard Health, a division of the consumer product Halyard Health Corporation, offers a wide range of innovative clinical solutions. The associate director for Global Strategic Marketing at Halyard Health was responsible for increasing the sales and market share of a pain management medical device to meet revenue goals for the year. The client’s team had been using the traditional approach to target and segment physicians by means of internal sales data and territory insight accumulated by a seasoned sales force. The client decided to explore alternatives that could help the team meet its year-end revenue goals. According to the client, “We needed a reliable data set that would give us physician- and organization-level insight that we were lacking from our traditional targeting and segmenting methods.” The goal was clear: identify physicians who were performing a specific procedure that would benefit from using the Halyard Health medical device. Once identified, the team would then understand which of these physicians provided the greatest potential based on procedure volume. After evaluating several vendors, LexisNexis® was chosen because “LexisNexis® could provide accurate physician- and organization-level information and deliver it in a format that met our needs,” said the client. The client was interested in understanding his particular market and maximizing sales force efforts and results. However, like many in the medical device industry, Halyard Health lacked the technology and resources to objectively identify physicians, quantify the potential opportunity, and determine the best locations for sales calls. They relied on internal sales data and rep knowledge for targeting – which wasn’t complete and lacked a holistic view of the physician. In addition, they had limited sales representative resources in which to cover the entire nation. The client needed to align sales reps with the high-value physicians and their practice locations if he was to meet year-end revenue goals.
About The Customer
Halyard Health, a division of the consumer product Halyard Health Corporation, offers a wide range of innovative clinical solutions. The company is dedicated to advancing health and healthcare by providing high-quality medical devices and services. Halyard Health's portfolio includes products for pain management, infection prevention, and surgical solutions, among others. The company operates globally and is committed to improving patient outcomes and enhancing the efficiency of healthcare providers. The associate director for Global Strategic Marketing at Halyard Health was responsible for increasing the sales and market share of a pain management medical device to meet revenue goals for the year. The client’s team had been using the traditional approach to target and segment physicians by means of internal sales data and territory insight accumulated by a seasoned sales force. However, they decided to explore alternatives that could help the team meet its year-end revenue goals. The goal was to identify physicians who were performing a specific procedure that would benefit from using the Halyard Health medical device and understand which of these physicians provided the greatest potential based on procedure volume.
The Solution
The client worked closely with LexisNexis® to refine the procedure codes and methodology. Leveraging LexisNexis’ extensive project experience and guidance, the client got the precise physician and organization data proposed. Included were projected patient volumes and the corresponding decile ranks for each physician and organization. This gave the client the ability to sort by volume and hone in on the settings with higher sales potential for their medical device, such as acute care hospitals and ambulatory surgery centers (ASC). The client further benefited from the visibility into which physicians had privileges at an acute care hospital, along with a breakdown of which disciplines were performing the targeted procedure. This helped the client to understand which messages and tactics were needed based on the discipline being targeted. As a result, the client had a more refined physician universe − he knew who his physician targets were, the settings where they practiced, and was able to better prioritize the opportunities based on volume. This gave the team quantifiable targeting insight and enabled the client to more effectively deploy sales resources against high-value targets. As a first-time user of this data, the client wanted to justify using LexisNexis® and the medical claims data approach. Given in the LexisNexis® delivery process, the client was able to set up an effective lead tracking system that linked any LexisNexis® sourced sales activity to their internal sales force automation (SFA) software. This allowed the client and his team to easily and accurately track the LexisNexis® generated opportunities in real time, calculate the ROI generated from the HMS data, and report daily progress to management.
Operational Impact
Quantitative Benefit
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