Harnessing the power of Artificial Intelligence for KOL Engagement
Recent surveys have shown that pharmaceutical companies and the industry in general is challenged with over 50% failures of new drug launches. This has led to Medical Affairs requiring reinventing to be more proactive, collaborative and engaging. The key to maintaining a competitive advantage is in managing an effective partnership model with key opinion leaders and experts in the field by engaging in a real-time basis with the right content and collaboration strategy.
For new product launches and market entries, pharmaceutical companies engage with KOLs and experts to evaluate the new products and become influencers to the industry and public. Key Opinion Leaders are generally leading physicians who are well known in their area of practice and command a respectful position in the healthcare community. KOLs are mostly individual practitioners who have evinced keen interest in various aspects of medicinal products in their therapeutic area including clinical trials and commercialization. Although through out the drug development process KOLs are profoundly involved during the commercialization process when pharmaceutical companies need feedback on the product being introduced, markets being addressed and the product messaging and branding that needs to be planned for the launch in the markets. KOLs play a key role in getting the right message across to the patients and the healthcare community in general.
The medical science liaisons (MSLs) play a crucial role in bridging the communication between the KOLs and the pharmaceutical companies. MSLs are tasked with maintaining a proactive peer to peer relationship with the KOLs. MSL are required to have access to real time data on various aspects of the product development and launch including clinical trials data, specifics to therapeutic areas, competitive intelligence, sentiment analysis, and cross functional data. The key in building an effective collaborative engagement with KOLs is access to real time data, collaboration platform, big data driven information from both structured and unstructured sources. Since KOLs normally would like to render their feedback in their own time availabilities, it is vital to have a flexible approach for engagement with a centralized source for all related product information, contracts, presentations and data sets.
With artificial intelligence techniques like machine learning, natural language processing, sentiment analysis and intelligent bots the MSLs are empowered to facilitate the KOLs with real world, real time insights. AstaLynx Ai platform and Ai transformation services is architected to facilitate powerful engagement models with KOLs there by providing real insights into product launches and commercialization. The advanced dashboard provides a comprehensive single source of access for information and literature that is key in KOL engagement. The advanced machine learning algorithms embedded in the platform reduce the need for rework and burdensome data entry.
Blog Written by Prashanth Visweswaran Board Member AstaLynx Global. www.astalynx.com