Life sciences innovators need to approach effective data management not just as a matter of regulatory compliance, but as an opportunity to enhance their return on investment.
The dynamic diversity of this industry is what makes it such an exciting field, and the key to harnessing that productivity is connecting innovators and thought leaders with HCPs via in-person and digital meeting programs. As this process is spread out across corporations and continents, the organizers tasked with facilitating this transfer of knowledge have an enormous responsibility to capture vast amounts of data and ensure its integrity.
With responsibility for solutions at AHM, I see every day how important it is for corporations to implement a centralized and standardized process for managing this engagement data.
It is no small feat, but it is a critical one. Like the fable of the five blind men and the elephant, companies risk missing the bigger picture if they can’t see a cohesive whole, and leave themselves vulnerable to competitive as well as regulatory challenges. Without a centralized repository for collecting and curating these metrics, life sciences industry participants may be left with a fragmented picture of their initiatives and expenditures.
A primary driver is compliance — different countries have different reporting requirements around interactions in which a transfer of value takes place (and different parameters for defining those values!), and companies have their own internal protocols, which may differ by regions, by divisions, and even by the departments that participate in procurement, facilitation, logistics, and other steps along the way.
Efficient and accurate data management isn’t just important for reducing compliance risk, it is also critical in assuring effective marketing activities. Without these data insights providing information on current activity results, the life sciences industry has no way to develop and improve on best practices. The sum is greater than the whole of its parts, if you will.
Thanks to its robust data and tools — including CentrisDirect™, AHM’s global solution to manage compliance — AHM has a uniquely data-driven view into the trends surrounding HCP engagement and program management. Look for near term announcements as AHM continues to help our customers with solutions to make business processes more effective.
Susan Hill, SVP, Global Products & Solutions, AHM
Susan joined AHM in June of 2013 and is responsible for the oversight and management of AHM’s Global Business Development and Solutions and Marketing team. With over nineteen years of experience in the Life Science industry, Susan brings experience in business development, product marketing, and new technology investment and optimization.