|By Business Wire||
|December 11, 2013 07:22 AM EST||
RxVantage, a healthcare technology company that helps physician practices manage their interactions with biopharmaceutical sales representatives, has introduced a corporate subscription program for biopharma companies seeking to increase the number of educational interactions their reps have with physicians.
RxVantage is a cloud-based platform that consists of a rep scheduling application and a suite of software tools designed to make the process of managing interactions between physician practices and biopharma reps much easier and more efficient for both parties. Medical offices can implement the RxVantage platform for free and use it to coordinate rep scheduling, request drug samples and provide information to patients that will help them better afford their medications.
Leading biopharmaceutical companies are engaging with RxVantage so that their entire sales organization can take advantage of the service, which was previously available to individual sales reps only.
“This is a game-changer for biopharma companies and their sales reps who are trying to find more 'face time' opportunities to share important clinical information with doctors,” notes Jay Goss, CEO of RxVantage. “We estimate that 30 percent of all opportunities when a physician is ready, willing and able to learn from a rep ultimately go wasted due to inefficiencies in the pen and paper calendar system used to schedule them. Our technology connects the right rep with the right doctor at the right time, resulting in more educational interactions between reps and physicians.”
Tens of thousands of reps from nearly every biopharma company -- as well as reps from other medical vendors that call on medical practices, including medical device manufacturers -- use RxVantage. New data compiled by RxVantage shows that reps who subscribe to the company's premium service booked 2.4 times more appointments with physicians (between January 1, 2013 and December 1, 2013) than those reps who do not subscribe to the service. To date, RxVantage has enabled more than 500,000 educational interactions between reps and physicians across a variety of medical specialties, including oncology, nephrology and rheumatology.
A biopharma company with the corporate subscription can have immediate access to the complete suite of efficiency tools that RxVantage Premium delivers. These tools, which include the recently launched RxVantage Mobile, deliver real-time insights and access to unique data sets that allow them to be in the right place at the right time, when a doctor is willing and able to see them. The corporate subscription also includes access to all basic RxVantage functionality, including tools to self-schedule appointments 24/7/365 with providers based on their “rules of engagement” and the ability to electronically communicate with key staff inside medical practices.
“Another important facet of RxVantage is that because we streamline the process for medical practices, physicians who would have otherwise reduced or eliminated reps from the practice are now remaining open to the valuable education they provide,” said Dan Gilman, founder of RxVantage. “Our internal analysis shows that 22 percent of RxVantage practices would not see any reps if not for the service and more than 70 percent would see fewer reps. This illustrates that both physicians and pharma companies are realizing value from our service, which creates more opportunities to educate providers, reduces the administrative burden on medical practices and ultimately helps improve patient care.”
RxVantage is a venture capital-backed, Los Angeles-based healthcare technology company with an innovative cloud-based platform that enables physicians' practices to streamline and improve their relationships with the biopharmaceutical and other medical sales reps that call on them. In so doing, RxVantage solves a critical access problem for biopharma companies, where demand for time with physicians frequently exceeds supply. The platform includes a rules-based rep scheduling application and a suite of software tools designed to make finding and communicating with medical reps markedly more efficient. The technology also features an up-to-date, centralized directory of patient assistance programs and a comprehensive drug coupon database, Powered by RxAssist (acquired by RxVantage in 2012), which greatly simplifies the practices' task of researching prescription medication information on behalf of its patients. For more information, visit www.rxvantage.com or call 866-464-2157.