Symphony Health Solutions, a provider of high-value market research, analytics and technology solutions for life science manufacturers, researchers, payers and providers, today introduced PHAST™ Source of Business, the latest audit in the next generation PHAST Powered by IDV® online market analytics solution. PHAST Source of Business provides insights into behaviors of patients who are new to therapy or brand, which products are most often used for first line therapy, and which patient segments drive growth. These metrics are leading indicators of prescription brand trends, enabling brand teams to quickly identify and manage opportunities.
Brand managers and market researchers can now easily see the source of new and continuing product events, how those events trend over time in terms of growth or decline, and the impact of factors such as physician specialty or payment type on those trends. PHAST Source of Business includes all therapeutic classes and products including retail, mail order and specialty data, and offers users the option to segment data by physician specialty, state, payment type, and patient age and gender for more effective strategic and tactical planning.
“Market changes such as new brand launches, new indications, or new generics/OTCs in the class can quickly shift a brand’s share. We developed PHAST Source of Business to deliver rapid insights into where and how those shifts are occurring so our clients can quickly understand where their business is coming from – or going,” said Don Otterbein, SVP, Product Management & Marketing and GM, Consulting & Services. “PHAST Source of Business brings the information power needed to take immediate corrective action and positively impact performance.”
The PHAST Powered by IDV® suite of audits leverages the industry’s largest sample of retail prescription sales and claims data to give brand managers, marketers, and financial analysts a cutting-edge business intelligence tool for market research, business development and sales forecasting. PHAST Source of Business comes with access to a new visual insights solution, where users can view pre-built reports and dashboards, or create customized dashboards to provide at-a-glance visualization of the data and attributes that are most important to them. As with all of PHAST’s reporting, dashboards are updated automatically with each new refresh of the monthly data.