ADDRESSING BUSINESS PROBLEMS WITH INDUSTRY-SPECIFIC KNOWLEDGE AND TECH
- Business consulting
- Solution architecture
- UI/UX Design
- Software development
ABOUT NOVO NORDISK
Novo Nordisk is an international pharmaceutical company, which has operated out of Denmark for over 100 years. The focus of their work is developing medical treatments for chronic conditions such as diabetes, obesity, hemophilia, and disorders related to growth hormones. Among other medications, they are a major manufacturer of insulin for diabetes treatment, producing 50% of the global supply.
To inform and support their sales & account managers in doing their jobs, Novo Nordisk needed help with the following.
ORGANIZING AN OVERWHELMING AMOUNT OF DATA
Like many large pharmaceutical companies, Novo Nordisk had access to numerous insurance data feeds. These feeds are expensive, and without the ability to organize them, the company was not benefitting the way they should have been. National and regional account managers had trouble accessing what was relevant to their service area and accounts because of the sheer volume of information at their fingertips.
QUICKLY INTERPRETING DATA TO MEET GOALS OF HEALTHCARE EXCHANGE INITIATIVES
Novo Nordisk’s Market Access Group was launching initiatives that addressed new healthcare exchanges. They needed their account managers to be able to understand and navigate these healthcare exchanges with greater accuracy and efficiency.
WHAT WE DID
MEV used our industry-specific knowledge and experience to come up with and execute the following solutions.
PARTNERED WITH A MARKET ACCESS GROUP TO IDENTIFY BUSINESS GOALS
MEV came into the project with an understanding of the pharmaceutical business domain, and started with a discovery period to understand Novo Nordisk’s internal processes and goals. First, they analyzed the key challenge Novo Nordisk was having when attempting to achieve market share goals. Then, MEV worked with Novo Nordisk’s market access group, which focused on a broad spectrum of payers from large national accounts, to smaller regional ones. Based on that period of careful listening and communication, the MEV team was able to establish a set of concrete challenges to overcome.
BUILT MEDIX TOOL TO INGEST AND ANALYZE DATA
As a technical solution to Novo Nordisk’s business problem, MEV built a market access-specific CRM and decision support system from scratch called MEDIX. MEDIX allowed users to create and maintain strategic as well as tactical level account plans in a more streamlined way, while also creating transparency and accountability for the leadership team. Additionally, the tool ingests unstructured data and uses a custom built NLP (natural language processing) machine learning model to interpret data relevant to the geographical location, specific accounts, and payer companies that the user is seeking. After the tool was built, MEV tested, deployed, and launched it.
BECAME TRUSTED VENDOR FOR ADDITIONAL TECH INITIATIVES
After the completion of the MEDIX system, MEV provided additional technological support to Novo Nordisk’s market access group. This included execution of several tactics including IVAs (Interactive Visual Aids) and a custom built data analytics solution.
- Built a tool that supported an internal sales force of about 2000 people
- Created a coherent system for their market access group to work on, which enabled better business transparency & efficiency
- Provided a tool that let Novo Nordisk have a way of looking at consistent data sets, so they could figure out ways to structure big accounts
- Built a framework that business and account executives could use to drive business
- Provided one process, one tool to support that process, one way of looking at data, which maximized the value of the data they were already paying for