PRODUCT
Healthcare Intelligence is an application within Thomson Reuters Eikon™ platform, which integrates detailed drug pipeline information from TR Cortellis™, into an intuitive and powerful research tool for financial analysts within the biotech and pharmaceutical sectors.
Design Highlights
Incremental search function with auto-suggestions
Dashboard with curated content and data visualization
Rich data flows with multiple filtering design components
Share, save and download actions to take data outside the software
“Your app achieves in seconds what currently takes me weeks.”
The Challenge
Thomson Reuters Eikon is a comprehensive source of financial data but is limited in health-related data. In October 2015, research revealed an unmet need from a specific type of Thomson Reuters Eikon™ customer: Eikon’s healthcare financial analysts want an easy way to search for companies active in specific drugs, analyze drug historical and forecasted revenues, and access detailed reports about drugs and companies.
Background Research
No healthcare database on the market offers a consistent way to search by indication (ie. asthma, cancer).
Healthcare-focused financial users work with specific types of data that help them understand the competitive landscape for a particular disease: the main players, drugs, companies, funding, and patents. Their goal is to advise their company on buying or selling healthcare technology, acquiring a startup, divesting a company, etc. However, their day-today workflow, which includes using Eikon and Cortellis, has them collecting and curating drug pipeline information from as many as eight databases!
Hypothesis
We believed that integrating data from Cortellis, Thomson Reuters’ database for life science professionals, into Eikon, would help fulfill our target users’ need for an efficient way to analyze the healthcare industry. Cortellis provides a very comprehensive range of healthcare data, within a simple and intelligent UI and flow inside Eikon.
Target Users
Healthcare financial analysts, including:
Healthcare coverage investment bankers
Buy side equity analysts
Sell side research analysts
Design Process
Customer Survey
We interviewed 10 Eikon customers - healthcare financial analysts, to validate our assumptions based on a 1-slide powerpoint created by the project lead. The findings confirmed our assumptions and informed that users wanted:
An overview of the market landscape by indication (disease)
To search by indication
A deep dive on the information, companies and drugs
Ideation
Cortellis database
Based on those insights, we brainstormed on the customer painpoints
and potential solutions, then ideated on the following ideas:
Search by indication using Cortellis data
Provide a dashboard to easily view all the data
Narrow down the information
Access detailed reports on companies and drugs
Design & Test
The 3 key components of the designed solution included:
Search on the homepage
Dashboard with interactive charts
Search results page with faceted search
We followed the look and feel of Eikon, using its design guidelines and asset library to implement a clean and simple UI. We also took advantage of the high contrast color palette, to design interactive charts, especially noticeable in the dashboard.
Validating our Hypothesis = Received Funds to Build
Our final design flows were tested and validated by a final round of interviews with existing and non-customers. We went into production, integrating Cortellis data via an API and QA’ing the solution internally. We pitched the solution to the CEO and Innovation Office and were granted funds to build and integrate the app on Eikon’s platform.
Immediate Impact on Sales Revenue
In the first 4 months of launch, the solution played a crucial role in signing $1.8M in annual revenues from 12 new Eikon sales and the migration of 350+ users from legacy offerings onto Eikon. Within one year, the app had 450 Eikon users, including 250 repeats.