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Marketers will be able to track individual pharmacy inventories, dispensing trends
Having earned its chops over the past decade with analyzing wholesaler trade information via electronic data interchange (EDI) data, ValueCentric (Orchard Park, NY) is now expanding into more-precise retail-level activity with PharmacyView. According to Brian Wynne, director of data services, PharmacyView will enable at least two key marketing and distribution factors: inventory data at the pharmacy level, and prescribing trends at the therapy class level—including one’s own and competing drugs in that therapy class.
The service arises from bringing together multiple purchased and self-generated data sets at ValueCentric and performing proprietary analytics and data-normalizing on them, according to Wynne. “Manufacturers want to know what stocking levels are at pharmacies generally, but they also want to know how fast that inventory is moving,” he says. One example would be to see the effects of a copay program, tracking both the volume of prescriptions filled and the usage of the copay program. “Too often, marketers and trade relations managers are flying blind” without this level of detail, he says.
The service (which, like other ValueCentric products, is cloud-based) has been tested with selected clients, and is commercially available today.