FUTURCAST: Patient-Based Forecasting Solution
Key Characteristics of the Pharmaceutical Industry
The pharmaceutical industry is unique in several ways. Innovative pharmaceutical companies face many different challenges when compared to other manufacturing companies. These challenges include:
- The life enhancing, medical nature, and long lifecycle of pharmaceutical products from their product discovery to withdrawal
- The scientific and complex research setting
- The long product development process
- The highly regulated sales and technical operations environments
- The medical practitioner rather than the end customer as the primary focus of sales activities
- The valuation of a company being primarily based on its pipeline products rather than those currently being sold
As a result, the methodological framework and forecasting analytics used to support new product sales projections and long term planning decisions of strategic in line products require specialized methods. These methods rest on data and models that cannot be found in ERP systems or specialized financial and strategic planning software. They lack the required epidemiological data and disease modeling framework.
FUTURCAST: Patient-Based Forecasting Module
FUTURCAST Patient-Based software is a powerful application that meets the needs for new product and long term strategic forecasting in pharmaceutical companies. It is an integrated multiple user module leveraging the FUTURCAST assumption-based Oracle schema or a single user stand alone database software. The patient-based platform and forecasting analytics are reliable, trouble-free, easy to use and flexible. It covers both general medicine and specialty product markets. It provides epidemiological forecasting for up to the next 30 years in months and/or years. More specifically, the application:
- Requires no programming efforts
- Is pre-loaded with population data for a pre-defined area projected by age cohorts for the next 30 years
- Provides immediate age and gender segmentation
- Is driven by either population or actual patients
- Incorporates FUTURCAST Assumption-based methodology to account for post launch events/actions
- Allows for user-defined indication segmentation based on underlying population and/or disease characteristics
- Integrates the FUTURCAST Expert Forecasting Engine for triangulation and up-take quantitative analysis of analogue audit data
- Provides analogue curves and most often selected models to build up-take impact of events; to set class and patient shares; prevalence, diagnosed, drug treated, and compliance values; as well as, pricing/rebates assumptions
- Enables top-down modifications from segment-up calculations
- Simplifies working on, storing and accessing past scenarios
- Validates sales objectives
- Provides automatic transfer of forecasts to operational FUTURCAST
- Incorporates multiple export functions to Excel
- Creates documented, transparent unit and sales forecasts in less than 30 minutes.
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