NDC Health and Cozint launch inFACT healthcare research tool
InFACT is designed to combine weekly and daily prescriber data with primary market research insight and analysis. The service, which is an acronym for 'integrated fast analytical continuous tracking', provides information on prescriber behavior, including notes on the attitudes and perceptions that influenced the physician during the prescription writing process. inFact is also designed to allow for the continuous monitoring of the market versus 'wave' research methodologies.
Through a strategic agreement between Cozint and NDC, inFACT integrates NDC's weekly and daily U.S. prescription databases with Cozint's Web-based physician surveys to monitor the evolving market dynamics of new product launches, new formulations, and any other point in the product life cycle.
The partnering companies predict that with the implementation of inFACT, pharmaceutical and healthcare companies will be able obtain targeted market information faster, and with a greater level of actionability, than traditional market research methods such as mail or telephone.
In addition, inFACT surveys are designed to provide research results within days of a prescribing event, enabling more timely marketing strategy decisions, based on real-time market conditions and resulting in a more effective process for measuring products in the field.
The program is designed to allow users to monitor surveys as they are administered and view online, real-time results at any time and from anywhere in the world through a password-protected Web site.
"For the first time, pharmaceutical marketers can monitor their strategies in real time, instead of performing a data autopsy when it's too late to take action." said Rob Sederman, President and CEO of Cozint Interactive. "inFACT allows our clients' marketing analysts to track shifts in market trends and product life cycles as they occur. Continuous tracking enables pharmaceutical manufacturers to make effective strategic decisions quickly and accurately. inFACT marks the beginning of a new era in prescriber-behavior research."
"Joining NDC's analytic expertise and unparalleled Source database information with primary research from Cozint Interactive results in innovative new solutions that shed light on previously unknown variables in patient care to benefit the healthcare industry," said Walter Hoff, CEO of NDC Health.