Written by Alex Card
Today is another exciting day here at Definitive Healthcare, as yet another new product rolls off the proverbial production line. Designed for our life sciences pre-commercial customers, Latitude Discovery enables you to quickly assess potential market opportunities associated with therapy development for granular patient cohorts.
With Latitude Discovery, you have self-service access to billions of commercial medical claims, plus intuitive analytical tools, all of which make it easier to spot market opportunities within precise patient cohorts. Once you have the intelligence you need, you can quickly generate reports using customizable templates to communicate new insights to key stakeholders.
Latitude Discovery is part of the Latitude Analytics Suite, a reporting and analytics package that empowers companies of all sizes to navigate the commercialization process efficiently from start to finish.
Is Latitude Discovery for me?
Life sciences companies face a long road from initial product concept to Food and Drug Administration approval – about 12 years for a therapy, and three to seven years for a medical device. During that period, a company can easily spend millions on development and still never bring their product to market.
Latitude Discovery empowers pharmaceutical, biotechnology and medical device companies at the earliest stages of the development journey with healthcare commercial intelligence that can inform crucial decisions on market opportunities, financing, competitive differentiation and more.
Let’s look at some of the specific problems Latitude Discovery can solve.
You need to understand specific patient cohorts
Whether you’re developing a treatment or a device, you need an intimate understanding of your ideal patient population: What related diagnoses do they have? Which procedures and prescriptions are they receiving?
Latitude Discovery helps you establish and analyze patient cohorts using billions of claims data and a variety of patient- and provider-focused filters. Used as a single source of truth, your entire team can leverage this information to quickly identify market opportunities across therapies.
Your programmatic decisions need guidance
After you’ve established a target patient and provider cohort, Latitude Discovery makes it simple to identify their associated clinical attributes and rapidly visualize key data points:
- How big is my addressable patient and provider population?
- What are their demographics?
- What’s the clinical volume of my provider base?
- What percentage of provider revenue comes from insurance vs Medicare/Medicaid?
With these insights, you can make better decisions about portfolio and development opportunities, financing and product strategy.
You need to quickly generate—and iterate—reports
Over the years of the development process, your goals may move with the market. You can use Latitude Discovery’s customizable claims data report templates to rapidly create new reports or iterate on older ones.
Built on real-time claims data, Latitude Discovery ensures that you’ll never have to spend time sifting through and updating old reports and data sets. Simply re-run the report and all out-of-date information will be automatically synced with the latest healthcare commercial intelligence.
Get started with Latitude Discovery
If your company wants to accelerate its pre-commercialization efforts, Latitude Discovery offers access to the healthcare commercial intelligence that can ensure no market opportunity goes unnoticed through the crucial early stages of product development. Our latest software-as-a-service solution is intuitive enough for any business user to grasp without help from a data scientist, yet powerful enough for an entire team to use as a singular source of commercial claims data.
In October 2021, Definitive Healthcare expanded our selection of healthcare commercial intelligence solutions with the addition of Latitude Reporting, a reporting and analytics tool built on commercial claims data to provide rapid insights into highly specific patient cohorts. Latitude Discovery builds upon that foundation to deliver a product targeted specifically at the needs of pre-commercial life sciences companies.
Are you ready to explore Latitude Discovery? Sign up for a free trial today and see how Latitude Discovery can help accelerate your commercialization efforts.