Which products and services are most profitable? How can I identify new business opportunities from my existing customer data?
What additional services can I provide to patients and their healthcare providers?
Without consistent access to reliable and transparent data, answering these questions is difficult, if not impossible.
Management of master data is your best chance of finding answers that deliver new business value for you and garner trust from your customers, ultimately improving patient healthcare.
Stibo Systems' MDM solutions for life sciences help you to integrate information from multiple systems, enrich enterprise data and establish the necessary governance that makes your decision-making data-driven and actionable.
With the product information management solution from Stibo Systems (Product MDM), Halyard Health has achieved:
Technology is allowing enhanced value-based relationships between manufacturers, healthcare payers, providers and patients.
Patient care is moving from a uniquely product-centric industry towards incorporating solution-oriented services. Advances in technology and the ability to collect, manage and analyze more data through sensors and devices, has allowed new types of business models to become part of the healthcare industry revolution.
Product-as-a-service is one of these models. Products are wrapped up as compounded solutions and services to give patients access to round-the-clock monitoring while hospitals free up resources for their outpatient services.
Value-based contracting is another business model that allows providers to pay according to the manufacturer’s product performance and usage metrics.
Such services are heavily reliant on transparent data.
Having data that is accurate, safe, secure, comprehensive and compliant means cost savings and increased revenue for manufacturers and better healthcare for patients and their providers.
From compliance to identification of new business opportunities, making data transparent means delivering better business outcomes.
In a data-driven organization, you can confidently make decisions based on the data you use daily. This is because the data is trusted.
The journey to becoming a data-driven organization starts with master data management.
Businesses, their regulators and their partners, make decisions based on the mission-critical data that describes customers, products and suppliers. Master data management ensures that your mission-critical data is fit for purpose and ready to be an active part of your business’ competitive advantage.
How data-driven are you when it comes to your healthcare organization and healthcare professional (HCO/HCP) customer and supplier data? Do you have the right processes in place to give you actionable insight? Take this quick online test and get recommendations on how to become more data-driven.
Adoption of product identification standards such as GS1 and IDMP helps increase transparency and efficiency in the digital supply chain.
Making sure you have accurate information about your products is not enough. You need data transparency to make sure that it was curated, enriched and distributed in a way that is controlled, auditable, secure and ethical.
Master data management delivers transparent data according to global standards including GS1 and IDMP.
With reliable, normalized information, you can provide your customers with the trusted data needed for automated e-purchasing and improved traceability along the supply chain.
An MDM solution for the life sciences industry supports governance of all data domains and creates the necessary uniformity of data across the supply chain and the enterprise.