Sorcero has announced a new webinar titled “Transforming Medical Insights into Strategy, Engagement, and Value.” This webinar was developed for Medical Affairs teams who recognize the importance of, and the barriers to, deriving quantifiable value from medical insights.
Transforming Medical Insights into Strategy, Engagement, and Value
During the live webinar, speakers Tim Mikhelashvili, a veteran MSL mentor, trainer and consultant, and Sean Smith, head of marketing at Sorcero will explore:
- Current challenges of capturing, communicating, and analyzing medical insights
- How new technologies can significantly increase the quantity, quality, and actionability of medical insights
What will Medical Affairs learn?
The goal of this webinar is to demonstrate how more efficient medical insight processes give MSLs the resources, incentives, and time to do what they do best—build relationships with scientific experts that advance medicine.
Also, the webinar will show how these insights can identify unmet market needs faster and, also, uncover evidence and education gaps, including issues related to:
- Real-world evidence
- Market access
These are the issues that directly impact medical and business strategies.
What is the value of medical insights to Medical Affairs?
“Ask about Field Medical insights when talking to a Medical Science Liaison (MSL), the head of a therapeutic area, a key opinion leader—anyone involved in Medical Affairs—and they'll tell you how strategically important those insights are,” said Dipanwita Das, Founder and CEO of Sorcero.
“At the same time, they’ll probably tell you how hard it is to sift through and make sense of the constant stream of observations and insights—not to mention translating reams of data into actionable intelligence.”
In fact, a new survey from the MSL Society of hundreds of Medical organizations indicated that the majority (~70-75%) of Medical teams report that they feel their medical insights processes are inadequately defined, understood, or analyzed and are captured inconsistently.
Indeed, McKinsey underscores the importance of medical insights for the digital engagement strategy.
According to McKinsey, “companies should seek to develop clear processes that enable MA teams to maximize the benefits of their privileged position vis-à-vis physicians by uncovering and feeding back insights that shape commercial strategy to ensure it meets the needs of customers.”
Tim Mikhelashvili agrees. “In order to achieve this level of strategic insight,” he said, “Medical Affairs, and indeed Medical Science Liaisons, will need to entirely rethink, what insights are, and how they go about capturing them. Medical Affairs leadership in 2020 will need to critically think about how to transform the medical insights process from a trending but nebulous administrative task into a primary capability and key performance indicator (KPI) that will:
- Stimulate MSLs to engage their experts and to uncover and capture more insights in real-time, with context and without bias
- Communicate insights more frequently with each other and with their leadership
- Collaborate with each other on their analysis to guide Medical strategy
Topics to Watch: Strategies for Transforming Insights
During the first part of the webinar, Mikhelashvili will share his strategies for directly transforming insights into Medical Affairs value and growth.
Topics will include:
- The strategic importance of insights as a KPI
- What insights and observations are and why they both matter
- The different types of insights and how to classify them
- How to engage in more meaningful interactions that generate strategic insights or observations
- Why insights are the path to demonstrating value
“Instead of simply tallying the number of MSL interactions or even survey responses,” said Mikhelashvili, “teams should focus on finding new ways to create ‘genuine but strategic dialogue’ between Field Medical and key opinion leaders (KOLs).”
He explains that “it is critical to quickly and easily capture the flow and the real-world context or motivating factors driving beliefs or behaviors during these discussions exactly as they unfold, rather than relying solely on pre-structuring discussions as a script of survey questions and other biased observations.”
"Only then," he said, “will we truly understand our customers.”
The Role of Technology in the Future of Medical Insights Management
“To achieve this vision, Medical Affairs teams will also need to rethink their technology,” said Sean Smith, Chief Marketing Officer at Sorcero.
How are leading Medical Affairs teams using Medical Insights Management (MIM) to capture 300% more insights? >> Explore Medical Insights Management (MIM)
“This will require new solutions that are designed to extract meaning out of the stream of day-to-day communications, foster the ability to constantly analyze vast amounts of largely text-based data, provide deeper contextual understanding, and even make recommendations."
“To put it bluntly,” says Smith, “the current insights processes and technologies aren’t up to the task.”
Accelerating Insights: Medical Insights Management
During the second part of the webinar, Smith will lay out the underlying challenges and present Sorcero’s new medical insights solution.
“My goal,” he says, “is not to bore the audience with a lot of technical terms. Rather, we can show them how some of the same new technologies they use in their daily lives allow MSLs to capture meaningful interactions - interactions that can be evaluated by peers and analyzed in the context of the business."
The webinar will conclude with a demonstration of Sorcero’s new lightweight social interface that’s as easy to use as Facebook.
It combines powerful new technologies in an end-to-end, NLP-based solution for capturing, extracting, and analyzing text and multimedia insights, allowing teams to identify and act upon critical insights immediately.
About Sorcero - Sorcero provides a no-code NLP Platform for domain-specific AI that understands life sciences, insurance, and related subject matter areas. The applications it makes possible focus on the most valuable functions at enterprises. With their NLP suite, Sorcero augments the efforts of subject matter experts who work with vast amounts of data that is structured, unstructured, or anywhere in between.
About Amedea Pharma, Inc. - Tim Mikhelashvili is a Director, Medical Science Liaison at UroGen Pharma, and a Doctor of Pharmacy with a Postdoctoral fellowship in Scientific Publications and Medical Education completed at Rutgers. He is also certified by the MIT Sloan School of Management in “Leading Organizational Change,” has his own pharmaceutical consulting company focused on Medical Affairs metrics, analytics, and training called Amedea Pharma, Inc. and a personal LinkedIn business page, podcast and Social Media brand called @Alloutcoach dedicated to creating more leaders, in which he helps people “stretch themselves, and lift others.”
Learn more about how Medical Insights Management is enabling Medical Affairs to close the tab on spreadsheets and manual reviews with a real-time analytics platform that captures 300% more insights.