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The Kings Fund QMR

Is the new King’s Fund Report an opportunity for pharma companies?

The Kings Fund Report for November 2017 has been released and contains some interesting reading.

First published in April 2011, the report aims to take stock of what’s happened over the past quarter and tracks, analyses and comments on the changes and challenges facing the health and care system.

The report looks at a range of key performance indicators, including:

  • Urgent care
  • Waiting times
  • Delayed transfers of care
  • Workforce

NHS Budgeting concerns

The latest King’s Fund Report reveals that NHS finances “remain precarious despite an emergency funding injection.” (kingsfund.org.uk) This situation will mean that a number of tough decisions will need to be made at trust, CCG, and GP level in an effort to meet 2017-2018 budgets.

Looking at the situation from the top level there is evidence of real concern from within the NHS.

“The latest survey of trust financial directors and clinical commissioning group (CCG) finance leads shows increasing concern over whether local CCGs can deliver their financial targets in 2017/18. This, in turn, increases the focus on NHS England’s central budget, which will have to bear more of the financial burden than planned if the NHS is to achieve financial balance and the Department of Health is to avoid overspending the budget it was allocated by parliament.” (http://qmr.kingsfund.org.uk/2017/24/overview)

And, on a more detailed, practice-level scale, this concern translates into consequences for patients, prescriptions and purse strings.

“81 per cent of CCG respondents were considering extending the number of low-value treatments and prescriptions that will not be funded, and 67 per cent were considering extending waiting lists or reducing activity for certain elective specialties.” (http://qmr.kingsfund.org.uk/2017/24/survey)

RX Analyser as a time and budget-saving sales tool

Pharmaceutical companies can demonstrate prescribing efficiencies and potential cost savings to medical trusts, CCGs and GP practices via the employment of RXA analytical software tools, which also remove the need for laborious and complex monthly data-crunching tasks.

At-a-glance sales views

Inspiremed’s Rx Analyser software takes large data sets, like NHS and IMS prescribing data, and transforms it from its raw, unwieldy format into a clear, easy to read and digestible results that are easy to interpret.

Its software customisation capacity also gives optional added control and insights.

For pharmaceutical companies, RXA SalesView enables an understanding of how and where products – and those of competitors’ – are prescribed by the NHS.

The tool provides a comprehensive analysis of the competitive prescribing landscape, giving valuable insight into product portfolios down to GP practice level.

Valuable insights, significant cost savings

This functionality means that it’s simple to show customers within the NHS a clear range of significant cost-savings and prescribing efficiencies across their prescribing portfolio. It also enables business intelligence teams to use data to plan sales and implement powerful marketing plans, based on accurate, data rich analytics.

In this ever-changing marketplace, the peace of mind that comes with knowing the data needs of your company will always be met with flexible, rapid response answers strengthens your position when discussing your brands with NHS Payers and decision makers.

To book your demonstration of the Rx Analyser, contact us today.

“We chose Rx Analyser is because we wanted visibility of sales for our products. Rx Analyser is perfect for delivering a detailed level of data to practice level. The data is enabling us to set targets at territory level and assist our planning process as we can understand our competitor sales via Rx Analyser far better than previously.”

National Paediatric Manager, UK Health and Wellness Company

“The budget impact models are a real benefit.”

National Sales Manager, UK Pharmaceutical Company

“At a CCG level we can show our customers how we can work with individual surgeries to get substantial cost savings and utilize their budgets better. We work with medicines management teams to help them to save money whilst also improving outcomes.”

Country Manager UK, Leading Diagnostics Company

“Inspiremed are a pleasure to work with, blending both a solid understanding of software development and commercial experience.”

Sales and Marketing Manager, Leading Healthcare Company, 2016

“Obviously I wouldn’t recommend Rx Analyser to our direct competitors as I believe the level of insight provided really gives us an edge.”

Sales and Marketing Manager, Leading Healthcare Company, 2016

“The feature I like most? The ability to drill down to competitor sales.”

Senior Manager, Global Healthcare Company, 2016

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