Segmented all hospitals in the US to understand which hospitals have a demand for the client’s specialty product.
Challenge
The client is a major specialty pharmaceutical company producing immunoglobulin therapy medicines. Their specialty pharma product was being used by a quarter of all the hospitals in the US.
The client had been giving discounts to hospitals on a case-by-case basis, without any strategy. The client wanted to understand the demand for their specialty product and understand key characteristics of these hospitals so that they could formulate better discounts and pricing strategies.
Solution
- Incorporated data from more than ten third-party sources such as current sales, market basket sales, hospital ownership type, hospital financial information, hospital affiliation type, hospital IT sophistication, 340B status, teaching status etc. to create a 360 view of all hospitals in the US.
- Used clustering techniques to segment hospitals into multiple segments based on their propensity to buy specialty products, need for discounts, and ownership type.
- Conducted a survey on each segment to understand drivers of brand selection, preferred brands and key value propositions.
Impact
Created a segmentation schema and strategy which helped the client to target hospitals and price products more effectively.
