Market access update
Exploring the benefits of cloud computing for market access.
Written by Onisim Gabrian
In a couple of sentences, what is cloud computing?
Cloud computing provides pooled resources and services via the internet to users, on-demand, 24/7. At PRMA Consulting we capitalize on cloud services to transform the market access process of leading pharmaceutical and biotechnology companies.
How is cloud different to the traditional data centers that market access professionals may be using?
Traditional data centers can be costly to maintain because of the exponential increase in data use that has accompanied most organizations’ transition into the digital space. Some companies are also finding it increasingly challenging to keep all their vital information and systems on in-house computer servers.
Cloud computing offers real advantages. Cloud users can access a large amount of data with all of the features and files of the systems over a secure, online network connection.
What are the basic characteristics of cloud computing that are useful within market access?
The first is elasticity and scalability. This means that if your needs for bandwidth and service access increase, it’s easy to scale up. Likewise, if you need to scale down again, the flexibility is built into the service.
The standardized interfaces of cloud computing are beneficial as they operate on the same familiar interfaces as well-known web-based services. This brings intuitive operating and efficiency.
You don’t have to worry about time-intensive systems maintenance when you work with cloud computing. Automatic system updates leave you free to focus on the things that matter.
Mobility is increasingly important for all of us, and with cloud computing, if you’ve got an internet connection you can be at work. For market access professionals, this helps rapid decision-making and sharing of the latest insights.
Most cloud-based solutions also offer integrated cloud analytics for a bird’s-eye view of your data. With the information stored in the cloud, you can build customized reports to analyze information and gain organization-wide insights.
Why are scalability and elasticity so important in the market access environment?
The value and outcomes landscapes are rapidly evolving. It’s important to be able to proactively increase, re-assign, or reduce computing capability. We saw this with our digital application, the PRMA Healthcheck® late module, in the Asia- Pacific region, where the agility provided by cloud computing helped maximize results for a top-10 pharmaceutical company.
“I encourage market access professionals to evaluate how cloud technology can better enable processes to unlock product value and elevate competitiveness.”
Why should market access professionals consider using cloud computing?
When people work on shared documents using traditional methods, sooner or later they could end up with conflicting file content, formats, and titles. With cloud computing, all files are stored centrally and everyone sees the same version. This increases quality and efficiency.
Collaboration is enhanced because when your teams can access, edit, and share documents anytime, from anywhere, they’re able to do more together, and do it better.
Cloud computing can be cost-effective because it cuts out high investment in hardware. Simply pay as you go and enjoy a subscription-based model with ease of setup and management – and forget about large capital expenditure!
With our cloud applications you never need to worry about the evolution of computing provision: the evergreen nature of cloud computing takes care of this for you.
What security controls do users receive with cloud computing?
Secure management of business information is critical in the competitive pharmaceutical and biotechnology environments. With cloud computing you get this through access control and user authentication. Managing who is able to read, copy, modify, and delete information is one step to mitigating the risks associated with handling data.
Can you give a real-world example of the benefits for market access?
Yes, up to 50% savings in internal and external resources were made by a leading pharmaceutical company that adopted the PRMA Navigator® digital application. They reduced the time needed to produce a draft HTA submission to under 2 weeks, and made considerable resource savings.
There are many examples of clients who are taking advantage of the benefits of cloud computing through PRMA Consulting’s unique digital applications.
PRMA Consulting is an independent consultancy solving some of the most challenging pricing, reimbursement, and market access issues facing international pharmaceutical and biotechnology companies today.
Our tailored services include a suite of digital applications that transform market access processes. These dynamic applications enable clients to unlock and optimize product value from early development through to successful country HTA submissions.
Digital transformation in market access