Bringing analytic rigor to pharmaceutical couponing programs
PSKW has dramatically increased its business by providing the one service other pharmaceutical marketing companies often skip: analyzing exactly how the coupons they create for clients are used by physicians and patients. By tracking return on investment by physician, region, drug and program, the midsize company has grown its business 140 percent each year for the past three years. SAS is the company's choice for analytics and reporting.
Coupons are designed so that when they are redeemed PSKW knows when, where, how and which doctor prescribed the drug. By incorporating other data on prescriptions, it can tell its pharmaceutical clients whether physicians continue to prescribe the drug even after the coupons ran out, and whether patients refilled prescriptions. From there, pharmaceutical companies can get a better sense of which physicians' offices respond to coupons and which patients might need follow-up coupons to continue filling a prescription.
The analysis work has been so well-received that PSKW is growing by word of mouth within large companies – one brand tells another brand about PSKW's work. "We've averaged 140 percent growth every year in coupon usage since 2009 and it doesn't appear to be leveling off," Caprara says.
"Our clients have a ton of data. They don't want any more. What they want are insights and wisdom," Caprara says. "You need tools to turn data into knowledge. I've never seen anything as flexible and powerful as SAS for doing that."
The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results. The only warranties for SAS products and services are those that are set forth in the express warranty statements in the written agreement for such products and services. Nothing herein should be construed as constituting an additional warranty. Customers have shared their successes with SAS as part of an agreed-upon contractual exchange or project success summarization following a successful implementation of SAS software. Brand and product names are trademarks of their respective companies.
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Measure the ROI of coupon programs for pharmaceutical customers.
PSKW analyzes the effectiveness of coupons by looking at how they impact prescribing rates and assist branded drugs in maintaining – or gaining – market share when generic rivals enter the market.
“"You need tools to turn data into knowledge. I've never seen anything as flexible and powerful as SAS for doing that.''”