IQVIA Applauded by Frost & Sullivan for Improving the Performance of QARA Professionals, Patient Safety, and Commercial Performance with Its AI Solutions
IQVIA's AI solutions streamline workflows, drive automation to connect process improvements, and provide insights into individual activities, improving patient safety and commercial performance.
SAN ANTONIO, Sept. 11, 2024 /PRNewswire/ -- Frost & Sullivan recently assessed the artificial intelligence (AI) quality and regulatory solutions space for the healthcare industry and, based on its findings, recognizes IQVIA with the 2024 Global Customer Value Leadership Award. The company is the first to offer intelligently connected integration for all quality, regulatory, and safety processes across healthcare, accelerating digital transformation through software-as-a-service (SaaS) and intelligence-driven simplification, automation, and the integration of functions, processes, and systems, as opposed to other solutions that lack such wide-ranging functionality. Compared to competitors, IQVIA highlights its value through industry-leading capabilities, comprehensive cloud solution portfolio, management and implementation consulting, business and IT managed services, and tech-enabled services.
IQVIA's quality and regulatory solutions digitalize and streamline the end-to-end activities of Quality Assurance and Regulatory Affairs (QARA) across organizations, enabling businesses to bring products to market and maintain their presence. The company's end-to-end solution for QARA eliminates work duplication, delivering value across the entire organization rather than focusing solely on individual pillars. Within the quality and regulatory sphere, the company provides an ecosystem with about 18 modules, including the following:
- Design control
- Change management
- Document management
- Complaint management
- Supplier management
Sankara Narayanan, Industry Director, Frost & Sullivan, observed "One key aspect of IQVIA is its commitment to deploying quality management with a commercial focus, emphasizing both patient safety and commercial performance. Its AI can drive optimizations, insights, and efficiencies, allowing QARA professionals to improve patient safety and product quality within the bounds of financial prudence. Ultimately, IQVIA enables commercial performance through improved operational efficiencies and effective resource utilization."
In addition, IQVIA provides data mining capabilities with solutions such as Vigilance Detect for literature and social media monitoring. Moreover, the solution helps organizations mitigate the risk of human fatigue, improve performance over time, and achieve global quality compliance. IQVIA integrates SmartSolve with other such solutions to enable healthcare organizations to adopt a modular and scalable approach to end-to-end solutions. As a healthcare company, IQVIA prioritizes providing compliant, safe, effective, financially savvy, relevant, and customer-centric healthcare solutions rather than simply chasing technological advancements.
"IQVIA's value proposition enables top-line growth, operational effectiveness, efficiency, and compliance, significantly boosting companies' commercial performance and professional activities. It tackles the increasing complexities of global regulations, optimizes resource allocation to achieve the set financial performance, and provides strategies for complex healthcare challenges through right-first-time activities and a single source of truth," added Sankara Narayanan. With its strong overall performance, IQVIA earns Frost & Sullivan's 2024 Global Customer Value Leadership Award in the AI regulatory and quality solutions space for the healthcare industry.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers, with a focus on improving the return on investment that customers make in its services or products. The award recognizes the company's unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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