ALEXANDRIA, Va.--(BUSINESS WIRE)--DoseData, a pharmaceutical data analytics company providing real-time data for real-world insights, announced today that it is now offering never-before-seen reports that provide visibility to what happens once drugs are inside the four walls of a hospital. Until now, no datasets on the market have offered insight into this crucial part of the pharmaceutical supply chain. With reports on over 300 individual drugs including Propofol, Lidocaine, Glycopyrrolate and more, pharmaceutical manufacturers and life science businesses can now see how drugs are moved, used, administered and wasted in real-time.
The reports are created by collecting data directly from over 640 hospitals representing 20-22% of all patient beds in the country. This includes individual counts of RFID-tagged doses, dispensing events from unit-based dispensing systems, over 300 million administration events from electronic medical records (EMR) and 503B compounded medications. DoseData converts all of that valuable data into clean, normalized, and reliable insights presented via visual dashboards. With new data added daily, these dashboards provide visibility into what’s happening in hospitals straight from the source.
Because DoseData sources information directly from hospitals, the company is able to provide daily updates regarding all relevant data. This is a clear distinction from other offerings on the market that source insights from sales-pull-through data that is typically more than 30 days old. By relying solely on months-old sales data, pharmaceutical companies have historically been looking in the rearview as they try to navigate an ever-changing and unpredictable supply chain. However, with this increased visibility, organizations can finally see the full picture in real-time.
As a result of this new level of clarity, drug manufacturers can make more informed decisions about production planning, commercial strategy, portfolio development, forecasting, life cycle management, and other crucial areas of business. By leveraging these reports, companies can respond to shortages, reduce medication waste, identify gaps in the market and pursue other optimization strategies that benefit both manufacturers and hospitals. Additionally, the information gleaned from DoseData’s reports can provide a key advantage over competitors relying on legacy data sources with lags in reporting.
“Coming from the pharmaceutical manufacturing industry, I’ve felt the impact of the gaps in the market when it comes to real-time, actionable data,” said Tom Bakas, VP of Data Products at DoseData. “Every professional working at a pharmaceutical or device company in a marketing, finance, strategy, investor relations, business development, sales and operations planning or supply chain role is expected to be data-driven in their decision making. And, when the C-suite is asking for answers, anecdotes and generalities aren’t going to cut it.”
“We’re thrilled to bring DoseData to the market and offer unparalleled transparency to the healthcare and pharmaceutical ecosystem,” said Tara Hanusa, Data Product Manager at DoseData. “The unique and timely insights we have to offer can help empower more informed decision making across the supply chain in the industry that benefits both hospitals and manufacturers.”
To find more information on DoseData or schedule a demo, visit the company's website at www.dosedata.com.
DoseData provides drug manufacturers visibility into how their medications are being used inside the four walls of a hospital in real-time. By collecting and updating data daily, DoseData empowers organizations to make confident, informed decisions based on what’s happening in the supply chain today - not a month ago. With unparalleled data visualization, companies can enhance their commercial strategy, improve production planning, mitigate shortages, analyze competitive intelligence and more. For additional information, please contact DoseData at email@example.com or visit our website at www.dosedata.com.