Taking a social approach in the pharmaceutical industry- PatientMetRx

Pharmaceutical industry combined to enhance the experience for the patients. A social intelligence expert collaborated with the pharmaceutical industry to develop a schematic way of taking medicines and pills to measure the different approach for the patients. Talking medicines, a Glasgow based company, formed in the year 2003, by a group of entrepreneurs who held expertise in the fields of life science, marketing and data tech. The company is led by the CEO, Jo Halliday and co founding doctors Elizabeth Fairley and Scott Crae. A sum of £2.5 million in funding to date, including a £1.1million with Tern Plc.

EVA, an AI machine holds the proprietorship as the company PatientMetRx combines machines learning and Natural Language Processing as it captures the Vocal ranges of the patient from the conversations going on in the multiple sources. It also taps into social media, forums and blogs which are all mapped to a combined database of approximately 1, 30,000 globally regulated medicines. The AI machine filters what the patients say online and what they are going through and processes it into data insights and stores them as pharmacy complaints. PatientMetRx provides the clinical industry pioneers with a PCR, which is the patient confident score to mark their each medicine which is delivered on the digital dashboard. This Patient Confident Score offers a very systematic approach in understanding the patient’s confidence while delivering their needs in the drug brands. The main aim of tracking PCS was to enable the company to accurately measure the effectiveness of the marketing campaigns and reduce the budget cuts, improve market competition and to give out better health options for their patients or clients.

Jo Halliday, the CEO shared that there was a sheer negligence or a lack of data analysis as the pharmaceutical industry spends $30 billion on marketing each year in the US alone and yet does not have an idea if the investment being made is actually helping or not. She also conveyed that the systematic data driven tool which the other industries uses to measure their customer experience have not been accessible to the pharma at the scale and this made the industry rely on the indirect feedback form the clinicians, patient advocacy or ad Hoc focus groups. She also said that at PatientMetRx, they were able to de risk the social data collections for pharma companies by offering an arm’s length and agile collection from wherever the patient was speaking and they decoded this to align with the medicines.

In using the AI, machine learning and NPL has allowed a real time intelligence approach which can be used in a straight forward way which saves the time as well as lets the better branding to be done. AS Hilladay quotes, “It’s been a glaring omission”. She believes, if the marketing spend can be more efficient, then the patient outcome will be better. PatientMetRx provides access to data on a chosen medicine brand and compares it with the competing brand. It also highlights the ongoing trend within the dynamic PCS, as well as diagnostics on what the score means and provides a scope for improving. The users can also view the volume for patient voice by the specifically selected medicine and even customize dates and also produce the reports in the Pdf formats. Especially in times like these, all the consumers or the patients can be benefited by the methodical approaches involving social methods and get the accurate medications.