Getting a product from the pipeline to the patient is a complex journey that can be derailed when healthcare companies use insufficient key performance indicators (KPIs).
In other words, when they’re carefully aligned with your key business strategies, KPIs will help you know whether your company is headed in the right direction.
It’s this kind of laser focus that innovative healthcare companies are applying to what not long ago was often an overlooked backroom process: product packaging label and artwork management (LAM).
Why are companies concentrating more these days on KPIs for LAM? Consider this: One out of every four (25 percent) medication errors are the result of name confusion, and one out of three (33 percent) are caused by packaging and labeling confusion – Journal of Young Pharmacists
BLUE Software, in collaboration with the world’s leading healthcare organizations, has found the most successful enterprises use KPIs such as Right First Time to boost LAM performance. In the LAM world, Right First Time is KPI nirvana, because it refers to having just a single cycle to achieve approval. That translates to getting your product to market sooner.
To achieve Right First Time, it helps greatly to have a data-driven project brief. It’s also important to go beyond just what the reviewer writes and be a good listener to understand what they really mean. Finally, make sure to notice patterns in rejections so you can adjust future briefs and avoid repeating the same mistakes.
To learn more about the critical LAM KPIs for healthcare organizations, download a copy of our NEW e-book: Accurate KPIs Enable Companies to Stay on Course and Get Products to Market Sooner.