06/02/2021
Check out a case study on predictive modeling below to learn how RA can meet your company's needs:
When Dr. James “Jackson” Barrett first formed Resonant Analytics in 2011 he saw a need to deliver actionable, measurable business insights that would allow companies to bridge the gap between data and decision. RA’s process is based on a thorough understanding of their clients’ business problems and providing custom solutions that improve both the bottom line and patient outcomes. Dr. Barrett explains that, “helping our clients achieve better patient outcomes, while increasing their bottom line is a key factor in how Resonant Analytics delivers value to our pharma clients, and clients across all industries that we serve.” His vision was put into action and the companies that Resonant Analytics have served over the past six years have gained valuable insights that have brought them big results.
One of RA’s clients, a major pharmaceutical company offering a specialty pharmacy product, was facing the challenge of patient compliance which was strongly impacting their bottom line. Nearly 22% of patients were dropping out of the pipeline prior to the first shipment of their pharmaceuticals, but the gap between data and the next steps to take to improve this situation is where the company was challenged.
Resonant Analytics devised a customized solution to identify patients most likely to cancel. RA used a logistic regression model, scoring the entire database weekly and flagging patients with a probability of >80% of cancellation. A combination of the patient’s cancellation score and their other information enabled this pharmaceutical company to target communications to prevent the patient from dropping out of the pipeline. By applying proactive, insight driven treatments to the patients identified most likely to drop out, the percentage of patients receiving this pharmaceutical were increased.
By using predictive models, patients likely to drop out of the pipeline can now be identified regardless of their status or what stage of process. This increased not only the bottom line for RA’s client by ensuring a healthier flow of profit through the pipeline, but also positively impacted patient outcome by increasing compliance.
Among the case studies from Resonant Analytics include examples of new customer acquisition, predictive modeling, customer retention, and more.