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HCP Access is selective as nearly half meet with only one company monthly
SINGAPORE, Dec. 7, 2022 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced findings from the latest Veeva Pulse Field Trends Report, the largest global industry benchmark of its kind on healthcare professional HCP engagement. Asia Pacific data shows that HCP access is limited and the growth of omnichannel engagement, across digital channels is driven by reps building effective relationships through use of relevant content.
"Veeva Pulse data shows digitally enabled sales reps are using HCP time more effectively than those who continue to use only in-person interactions," said Shafi Hussain, Veeva Asia business consulting lead. "Over the last few years there has been a shift to digital as the benefits are clear that combining in-person and digital interactions drive better outcomes. APAC data shows that the addition of video increases the duration and frequency of meetings for more meaningful engagement."
Veeva Pulse data in Asia Pacific show that:
- HCPs are more selective: About 80% of accessible HCPs limit meetings to three or fewer companies. Nearly 50% of accessible HCPs limit meetings to only 1 company (Figure 1).
Figure 1 | HCP Selectivity 30-Day Average
- HCP access is driven by expanding omnichannel engagement: While in-person engagement made up 77% of the channel mix in APAC this quarter, digital channels, such as videos and emails, grew to 18% this quarter. The region incorporated more chat or text messages into its channel mix compared to other regions, representing 2% of total activity.
- Content utilization accelerates: Content usage in video meetings increased by 10%, while in-person content utilization reached up to 59% by the end of the quarter.
- Digital engagement resulted in longer and more frequent HCP meetings: Use of digital channels gains approximately 67% more HCP meetings for reps. This also results in longer meeting durations with a 30% increase in Australia, 105% increase in Korea and 57% increase in Singapore when comparing in-person only interactions with hybrid interactions.
Figure 2 | HCP Quarterly Closed Loop Marketing (CLM) Duration
About the Veeva Pulse Field Trends Report
Analyzing over 600 million HCP interactions and activities annually from more than 80% of commercial biopharma field teams worldwide, the Veeva Pulse Field Trends Report is the largest industry benchmark of its kind on HCP engagement. The analysis compiles real-time transactional data recorded in Veeva CRM to deliver a view of engagement activity across life sciences. Indexed by Veeva quarterly, the data will help companies effectively and accurately benchmark performance to set the right, actionable goals for continued growth and impact.
Additional Information
To download a copy of the Veeva Pulse Field Trends Report, visit: veeva.com/FieldTrends
Learn more about Veeva Business Consulting: veeva.com/BusinessConsulting
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.
