Product Development Services
Developing new products means matching customers’ needs with accurate market sizes. Once you understand the market opportunity, you can focus on what’s most important. With Definitive Healthcare Solutions for Product Development, you gain detailed insights about the clinical, financial and operational challenges your customers are facing. Be confident that your product development investment is grounded in quantifiable market data. Companies use our solutions to get clear visibility into their total addressable market, such as one customer who identified 900+ new KOLs and contacted key targets with tailored messaging.
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Details
Challenge
An oncology medical device company was bringing a new product to market and needed to identify experts and build a key opinion leader (KOL) network before the commercial launch. Being new to market, the team found they had limited insight into their addressable market. They needed an efficient and reliable way to segment the market and establish KOL physician targeting based on procedure volumes.
Solution
Our solution helped them streamline their process by providing accurate and timely market and physician level data, all in one spot. They used specific procedure codes from commercial and Medicare claims data, ACE Projections—which estimated 100% claims coverage of the market—KOL search filters and physician profiles to identify prominent physicians in their market. Because the KOLs hold positions of greater influence and impact in the market, this information was vital for the teams to approach each physician, nurture the relationship and build rapport as the company moved towards commercialization.
Impact
Leveraging our data was critical in identifying experts and reaching KOLs. As a result of using Definitive Healthcare, the team quickly identified over 900 KOLs. In addition to saving considerable time by accessing market and physician level data in one place, it also increased the accuracy and precision of targeting, allowing the team to establish those key targets for tailored outreach in a specialized market. Their ability to build relationships from the top KOLs accelerated physician and healthcare organization interest to set the foundation for a strong sales pipeline.
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