HORSHAM, Pa., Jan. 15, 2016 (GLOBE NEWSWIRE) -- Symphony Health Solutions (SHS), a provider of high-value market research, analytics, and technology solutions for life sciences manufacturers, payers, and providers, today announced that IDV® (Integrated Dataverse), an exciting new big data solution that provides market-leading coverage and insights to the drivers of pharmaceutical demand, is now broadly available for financial industry analysts as well as life sciences manufacturers. IDV®, the sole source of U.S. prescription-volume market data on the Bloomberg Professional service, went live today with the first full week of January data. Financial industry analysts will benefit from this data as part of their existing Bloomberg Professional service subscription.
IDV®, a HIPAA-compliant platform, is the result of substantial data and technology investments made by SHS to provide the most accurate and complete picture of the pharmaceutical market. “We know that both our life sciences and financial community clients are most interested in understanding the volume of product that is actually sold in the market, not just what might be languishing in pharmacy bins,” explained Don Otterbein, SVP Marketing & Product Management and GM, Consulting & Services. “We built IDV to tell the full story of the patient journey – from diagnosis, to prescription, to payer influence, and finally to patient influence. Do patients actually buy what is prescribed, and why or why not?”
Life sciences manufacturers and financial analysts alike can now view the same level of information and detail in assessing market performance of a brand. As the foundation for all SHS data products, IDV® offers a complete picture of a given health event across prescriber, payer, and patient dimensions with analytics to answer key questions and facilitate critical business and commercial processes. Taking a holistic approach to analyzing health events enables a better understanding of both the clinical and financial decisions that impact the performance of brands.
Access to IDV® is simple and efficient with delivery via PHAST, the company’s audit suite, or Symphony HealthCloud™ and VantageTM Applications, the company’s proprietary cloud-based platform and analytic solutions suites. Bloomberg clients can access Symphony Health Solutions data on the Bloomberg Professional service by typing "BI PHRMX <GO>" and clicking on “Drug Explorer.” Bloomberg is also the only re-distributor of Symphony Health’s Pharmaceutical Audit Suite (PHAST) to the financial industry.
For more information about IDV®, view the info video or visit the SHS website at www.symphonyhealth.com.
About IDV®
Combining SHS’s vast claims resources and rich point-of-sale retail prescription data, IDV® is the industry’s most complete and interconnected source of healthcare data. SHS utilizes payment processing systems to capture the full claims lifecycle and more accurately depict prescription activity. By connecting physician, pharmacy, anonymized patient, medical and hospital data, IDV® reveals real-world behaviors and illuminates increasingly complex therapy decisions. With true transaction-level integration across all dimensions, IDV® combines different facets of information, allowing a view of a single health event from many different angles in support of increasingly sophisticated insight-driven strategies and programs.
About Symphony Health Solutions
Symphony Health Solutions is a leading provider of high-value data, analytics, technology solutions and actionable insights for healthcare and life sciences manufacturers, payers and providers. The company helps clients drive revenue growth and commercial effectiveness, while adapting to the transformation of the healthcare ecosystem, by integrating a broad set of patient, prescriber, payer and clinical data together with primary and secondary health research, analytics and consulting. Symphony delivers a comprehensive perspective on the real dynamics that drive business in the healthcare and life sciences markets. For more information, visit www.symphonyhealth.com.