Case Study
Practice Management Solutions in Prostate Cancer Care: A Case Study in Streamlining Inventory Management with Innovative App Solutions by Asentech
Our client, a global pharmaceutical manufacturing company, launched their innovative prostate cancer therapy which included a companion smartphone app. The app improved inventory management and reduced administrative burden, delivering a game-changing HCP experience. Before launch, competitors offered a basic inventory management system to count product currently on hand and forecast what may be needed in future. However, this older technology required HCPs to purchase capital equipment (including a specialized barcode scanning device and computer) that required significant training time, maintenance, and office space. Our client engaged Asentech to help them differentiate from competitors with an easy and effective app-based service for inventory management that is uniquely integrated with their product.
The pharmaceutical industry and thousands of medical practices face unique challenges in maintaining inventory levels to ensure product availability, navigate a heavily regulated environment, and manage perishable materials. Effective drug inventory management is crucial for HCPs as they are already overloaded with administrative work such as case documentation and prior authorizations, plus they must manage product ordering and overall inventory management. In addition to the staff time all this takes, there is financial pressure on the practice to stay profitable, while managing the volume of products needed “on hand,” a major business expense. A further complication is that some competitive treatment options require capital investments in dedicated hardware and software, plus office space and ongoing staff training.
In the existing market, HCPs often must compound the medications, which involves mixing and managing the products just before administration to patients. Our client launched a prefilled syringe to provide a quicker, safer, and more cost-effective product for HCPs. In addition, they wanted to launch their product with a smartphone app that easily and accurately manages inventory and streamlines the ordering and payment processes. By providing this innovative solution, our client aimed to enable HCPs to improve their practice operations and financial management through staff efficiency, reduced errors, and right-sizing the inventory on hand, leading to overall financial benefits for the HCPs and their practices.
Asentech conducted thorough research and identified that managing inventory for existing prostate cancer treatments involved too much time and complexity, leading to the insight that HCPs become frustrated when they do not have enough time to spend with patients due to the administrative burden associated with treatment.
To address this problem, Asentech purpose-built “Connects,” a new app for inventory management that saves time, reduces costs, improves accuracy, and enables HCPs to dedicate more time to patients, benefiting the practice. The first version of the app was launched after extensive design work and focus group testing, delivering a major financial benefit through the direct ordering of the correct amount of product, while lowering the cost and administrative burden of inventory management.
Asentech designed an awareness and engagement campaign to introduce the app and drive downloads and usage. This resulted in proven savings in the time and cost of acquiring treatment products. Importantly, our client targeted 80% market penetration in the first year, by effectively communicating the low cost and ease of use of the app and highlighting the value of analytics and reporting in inventory management.
Within six months of launching the app, we exceeded the goal of 80% market penetration and use of the app. In addition, we expect to drive usage well into the 90%+ range by the end of the first year.
“HCP’s have been consistently positive about the inventory services and the resulting business impact: Implementing the app was a great help in easing the process of inventory management. The team was prompt to assist with any questions or concerns we had as well as being open to our feedback.”
-Mandy, Practice Manager, Urologic Associates