Differentiate and collaborate. Effective pull-through is here.
It's no secret that payers are playing an increasingly important role in the commercial success of pharmaceutical and biotechnology products. As a result, pressure is mounting on the managed markets account executives to navigate the complexities of the payer landscape and achieve the best formulary position with fewest restrictions.
The right tools would help. But account executives have always been underserved by software vendors and were “force-fit” into using a system that did not meet their needs. So AEs took matters into their own hands and created spreadsheets to manage their business. However, that approach created new problems: account plans that were difficult to create, update, share and report on.
Veeva CRM solves this industry challenge with the only cloud-based solution built specifically for managed markets. Used by more than 20 managed markets account teams in the US, Veeva CRM provides a proven set of tools for AEs to more efficiently and effectively run their business.
Formulary data for effective pull-through.
The days of managing product formulary grids on Excel are over. Veeva CRM has a one-of-a-kind formulary matrix that account executives use to track formulary status on key accounts. The matrix can be tailored to visually display favorability versus competitors based on tier, copay and restrictions. The results can even be filtered by benefit design and geography to be able to provide relevant regional data for field sales. Formulary data can be pulled from 3rd party sources, and AEs have the ability to override status to ensure currency.
“For a long time, we searched for a product specifically designed to handle the specialized needs of managed markets. Veeva CRM is a uniquely designed tool that allows us to optimize the entire account management process.”
- Larry Green, President, Publicis Managed Markets
And because all selling teams are on the same platform when using Veeva CRM, current formulary information is available at all times to all users. So field sales can view a prebuilt dashboard showing a territory / payer analysis, which allows them to see plan level data (e.g., “What are the top 5 health plans in my territory?”) and physician level data (e.g., “Half of Dr. Smith’s scripts are for state Medicaid patients”) to execute more effective pull-through initiatives.
Fact-based account planning. All in one place.
Building an effective account plan requires the right data that is both timely and easily accessible. Veeva CRM can house data from third party vendors and internal sources all within a single location. Account executives easily have access to comprehensive reports about their customers, such as company background, number of lives covered, shipments and key decision makers within the health plan. The data provide a full view of the payer, so account plans are fact-based and comprehensive.
Simpler and more effective.
Account executives build their account plans directly into Veeva CRM, ensuring a streamlined and consistent account planning methodology. As tactics are executed, they are linked to the respective account plan in the system, making tracking of execution versus plan automated and transparent.
The days of managing product formulary grids on Excel are over.
Meeting briefs are easily captured with all relevant follow-up information, so users never miss an important customer deliverable. And best of all, when colleagues in the brand team or senior management come calling to check on progress, it is all self-service. Colleagues can simply run the report and have instant visibility to the latest, most accurate information. Veeva CRM’s solution for managed markets will leave your organization wondering why you ever did it any other way.
