Essentials for SP data aggregation success
Introducing new Archbow team member, Sarah Feldmann
Sarah Feldmann recently joined the Archbow Consulting team, enhancing our ability to advise clients in data consumption and optimization. Sarah’s career in data management spans pharmacies, HUBs, and copay vendors, allowing her to provide subject matter expertise in the utilization of end-to-end channel partner data. Read more about Sarah here.
We asked Sarah to help simplify what can often be an overwhelming task: preparing a data aggregation strategy. Creating a great customer experience for your product relies on accurate data, so it’s of the utmost importance to get it right. However, many pharma companies lack the internal expertise to navigate what can be a complex process. Sarah breaks it down for us below.
Three essential considerations for Specialty Pharmacy data aggregation success
By Sarah Feldmann
One source of truth. It’s imperative to have one source of data truth for business users to access. When multiple sources report the same data to different business users, it can create a lot of noise and often leads to a lack of trust in the data. If multiple sources are reporting the same/similar data, it’s vital that the data team ensure reconciliation happens across the entire ecosystem prior to reporting.
Hypercare period. By launch, manufacturers are able to obtain key requirements out of the system. However, the first three months post-launch are what’s known as a hypercare period. During that time, the data team makes adjustments and works out kinks, and the quality of data ebbs and flows. Level-setting across all stakeholders and managing expectations of data-quality during the hypercare period are vital steps to perceived success. Although business users are eager to use the data, they should understand that the data will not stabilize until after the hypercare period.
Standardize the network. When it comes to data, you want to compare apples to apples. Establishing a universal data exhibit template across the network is a must-have. Although contracts across multiple vendors might produce some variation, SLAs around timelines, accuracy, and completeness of data should be as standardized as possible. Standardization allows for the true comparison of one vendor’s performance to the others in the network. This also allows for cleaner review of Fair Market Value, performance scorecards, and Quarterly Business Reviews.
Standardized data aggregation from one source of truth delivers greater productivity and optimizes the utilization of data across multiple business units. Some organizations have the internal expertise to manage a data aggregation implementation, and others seek outside consulting help to ensure the best outcomes. If your team can use support, Archbow Consulting is here to help.
Want to congratulate Sarah on her new role? Send her a note here.