IMS + PearlDiver: A New Standard in Ortho Market Intelligence

IMS Health Incorporated and PearlDiver Technologies, Inc. have teamed up to create more current, robust and accurate orthopedic and spine market intelligence reports. Starting October 1, 2013, IMS Health and PearlDiver will be offering orthopedic and spine market intelligence reports based on the most current and robust data ever offered to orthopedic product manufacturers, academic institutions and clinical researchers.

More Current Data

For example, the new collaboration will provide orthopedic companies with market intelligence reports, updated quarterly or monthly that include:

• Data at doctor or facility level
• Data at the state, IDN or GPO level
• CMS data (including SAS files)
• Non-Medicare data
• Veterans Administration data
• U.S. Army data
• Claims data from over 100 health plans (including, soon, all the Blue plans in the U.S.)
• Code volumes for inpatient and outpatient procedures and diagnoses

In some cases, the data will be reported a mere 30 days after patient care.

Each report will combine IMS Health’s unmatched database of pharma, procedure, reimbursement, device and diagnosis data with PearlDiver’s long and well-established orthopedic domain knowledge. The reports will cover every major product and diagnosis category in orthopedics.

In addition, each report offers a portal into IMS Health’s analytic services.

Click here to see a report menu.

IMS Health Analytics – Broadening the Definition of What Is Possible

IMS Health, which is the world’s largest supplier of data and data analytics services to the life sciences industry, has developed a class of analytic services for medical product companies. These services are designed around data analytics and benchmarking metrics. Not only can these services be used to improve current products, sales activities and organizational effectiveness, they are especially valuable for advanced technologies and innovations.

IMS Health’s analytics team uses research, analysis and prototyping of new solutions such as treatment trends, personalized medicine, and predictive analytics from aggregating complex data sets to, frankly, broaden the definition of what is possible in product development and roll out.

One example of this work is a regenerative tissue initiative for the Office of Secretary of Defense, Office of Technology Transition. IMS Health currently supports the McGowan Institute for Regenerative Medicine at the University of Pittsburgh on three major task orders that include:

• Skeletal Muscle Regeneration
• Craniofacial bone scaffolding regeneration and reconstruction
• Scar contractures remodeling and treatment

IMS Health, through its analytics services, provides a kind of framework (think big data analytics) as well as the labor required for benchmarking longitudinal studies and data outcomes research which orthopedic companies can use to improve product assessment, development and, yes, even organizational structuring.

Who Is IMS Health?

IMS Health is a leading worldwide provider of information, technology and services dedicated to making healthcare perform better. With a global technology infrastructure and unique combination of real-world evidence, advanced analytics and proprietary software platforms, IMS Health connects knowledge across all aspects of healthcare to help clients improve patient outcomes and operate more efficiently.

IMS Health offers specific services and offerings for the medical device industry. These tools are designed to help arm medical device companies with a powerful suite of tools that provide a clear picture of the market, including competitive and product dynamics. IMS Health offers a full range of innovative services, including:

• Information sets, including data on sales, procedure and diagnosis, reference/customer master and market share
• Technology solutions that apply analytics to improve decision making and deliver insights on demand
• Consulting services to guide marketing decisions and investment, pricing and reimbursement strategies, and sales force effectiveness

Putting the IMS Engine Into a PearlDiver Chassis

Putting the IMS Health engine into a PearlDiver chassis is kind of like putting a super-charged V-12 engine in a Volkswagen bug. Fast is an understatement.

Time is money so speeding up the ability to analyze market data and then to communicate and innovate means serious dollars. What’s the value of shorter times to market and much better decision making? Incalculable.

Here are some examples of the IMS Health analytics at work:

• Sales Territory Reporting. With IMS Health data, device and pharma companies can more precisely tailor geographic sales territories—by product, by product family or even by diagnostic patterns. Then applying IMS Health’s analytic capabilities gives each sales or marketing manager much more reliable measures of each salesperson’s activity and effectiveness in his or her sales territory. IMS Health’s sales territory reporting is by device and pharma companies to calibrate sales-force compensation, resource allocation, territory alignment, market analyses and distribution management.
• Device Tracking. IMS Health, which built its global analytic’s business by monitoring prescription activity and tracking the movement of pharmaceutical products out of retail channels, is well on the way to building a similar capability for orthopedic devices. Over the next few years, the number of surveyed hospitals is expected to rise dramatically. Furthermore, with the advent of ICD-10 coding, even more specific data will become part of the IMS Health+PearlDiver data foundation.

Product tracking services are essential to optimizing product marketing at the hospital or sales territory level. Can you imagine the value of being able to review product utilization activity by hospital or geographic area while also getting an analysis of future trends sent directly to your sales representatives electronically?

• Sales Force Effectiveness Consulting and Services. IMS Health’s Sales Force Effectiveness practice focuses on helping ortho companies assess the effectiveness of their sales strategies and better design and deploy their sales forces. Using evidence-based research, IMS Health helps clients better segment their customer base, determine the optimal size and structure of their sales force based on that segmentation, and design call plans that optimally deploy the various sales resources across channels to better meet their customers’ needs and increase their sales force effectiveness. IMS Health’s Information Management practice helps companies organize, integrate, warehouse and analyze valuable data assets from multiple sources. IMS Health also provides help with product set-up, installation and implementation, customer training and a variety of ongoing, post-sales services.
• Promotional Audits and Promotion Management Consulting. IMS Health’s promotional audits leverage proprietary databases to give companies estimates of the effectiveness of their promotional activities for individual branded products, including sales force promotion and journal and mail advertising. IMS Health does this by using panels of physicians and from monitoring medical journals and direct mail. IMS Health currently publishes promotional audit reports covering approximately 10 countries and over 90% of the promoted markets. This evidential information is used by IMS Health’s consulting teams to help clients evaluate and optimize the allocation and effectiveness of their promotional messages, mix and delivery around the globe.
• Launch and Brand Management Offerings. IMS Health combines information, analytical tools, and consulting and services to address orthopedic company needs relevant to the management of each stage of the lifecycle of their brands. The areas covered include: brand planning, which helps orthopedic companies assess and forecast their markets, segment the indications and position and promote their products.

Getting Started

Together IMS Health+PearlDiver have created a series of market intelligence reports which start at just $9, 200—making it affordable for every orthopedic company. To peruse the menu of market intelligence reports, please see the menu of reports here.

For more information contact:

Richard Marx richard@ryortho.com or 215 280-3585

Bharathi Kavalipati bharathi@ryortho.com or 610 260-6462