PM360 2021 Innovative Division Veeva Data Cloud of Veeva Systems

Veeva Data Cloud

Veeva Systems

Jeremy Mittler, Vice President, Data Cloud Strategy
jeremy.mittler@veeva.com

For years, the industry relied on retail pharmacy-dispensed data to track prescriptions and identify the right HCPs to engage with. While this made sense decades ago, the life sciences industry is undergoing a shift—8 out of 10 new therapies brought to market are complex in nature and not distributed through retail pharmacies. In today’s highly specialized world, reliance on legacy data is no longer sufficient.

Announced in 2020 and launched for general market availability this year, Data Cloud is a new strategy from a division at Veeva aimed at delivering more innovative data solutions and an alternative to legacy data providers. Veeva Data Cloud provides privacy-safe visibility into drugs, diagnoses, and procedures missed by traditional data sources. To support today’s complex therapies, Veeva is taking a patient-first approach to building a complete data set across the full patient journey.

Data Cloud connects this longitudinal, patient-level information by using AI prior to de-identification. It brings together data from health plans, pharmacy benefit managers, payers, retail and specialty pharmacies, switch companies, and more. Ultimately, it will help the industry conduct more accurate HCP targeting and segmentation which helps life sciences companies get more of the right treatments in the hands of the right patients, at the right time.

So far, the division has launched two offerings: Veeva Longitudinal Patient Data and Veeva Longitudinal Prescriber Data. Leveraging Veeva data, one customer found 10% more valuable HCP targets, including over 550 additional high-prescribing HCPs. As deeper insights are generated from Data Cloud, more companies will be able to find the patients that need treatment sooner and, ultimately, improve health outcomes.

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