Baird Stiles is the Senior Vice President of Product Management within MMIT’s pharma vertical, joining us in October 2019 from JPMorgan Chase & Co. He is a certified Scrum Master and Agile Coach, and has a long history in the market access space as one of the early members of Fingertip Formulary. Stiles also led the healthcare product vertical at Thomson Healthcare for 10 years. Stiles’ team is focused on solving the challenges of market access professionals, addressing their daily needs in a holistic, efficient way as the industry experiences rapid change.
What’s your day to day like?
Well, when my kids ask me what I do I usually tell them that I’m a professional emailer and meeting attendee. But in all seriousness, I spend most of my day thinking about how our clients are managing their day. I think about what challenges our customers are facing and what their workflow is like for that day. I read our data and product alerts, glance at industry happenings, and I think about how those may be impacting our clients, and I try to bring their perspective to our team. I meet with our product managers and teams and attempt to convey the perspective that the value of our products and the drivers of our product strategy should consider the daily challenges that our clients face, and we should focus our efforts on solving those problems.
What’s coming up on the product side in 2020 that you’re most excited about?
I’m super excited about our new Radar alerting module. It brings relevance and immediacy to the constant changes that are happening in this market, and we are able to paint the landscape on a minute-by-minute basis for our customers so they are better able to understand how to optimize their teams and efforts in order to achieve their business goals.
The alerts are a really good example of how we get market feedback, bring it back and analyze it with a group of smart people, then think about what’s immediately executable and how to determine the highest business value of the work that we do for our customers. The customer value is especially high in such a complex scenario where the data is changing minute-by-minute. Those shifts in the market can have a significant impact on our clients’ goals. For us to be able to help them achieve their goals, I visualize the value flow from our data collection, to our technology stack, to our product user interfaces, all the way into the hands of our customers. I think about the entire broad vision of how everything we do fits into that continuum.
I’m also extremely excited about some of the new initiatives that are coming out of the product team, such as Advanced Oncology Analytics and Real-World Evidence. I’m also constantly thinking about enhancements to our foundational products, Analytics and our promotion suite.
How do you see MMIT growing over the next few years?
My email signature says “Ancora Imparo,” which essentially means “I’m still learning,” so I think all of us are on a quest to improve everything that we do every day. In the next few years, I see us continuing to scale and expanding to an enterprise solution provider that has both syndicated solutions, as well as a company that has our finger on the pulse of the customer needs and constant changes that are happening in the market. I see us becoming even more of a market leader, and also an innovation leader.
What are some of the challenges of market access that MMIT is in a unique position to help with?
As market access evolves, the complexity of utilization management and restrictions to market access drives a need for harder-to-surface elements of policies and coverage documentation. The complexities of drugs being covered on the medical benefit, drugs being covered within a line of therapy or within a regimen or in combinations, drives the need for us to provide even more detailed information. As your market access team strives to get information refined more granularly, and to have it mapped and culled into a more useful and immediate delivery, it brings big challenges to the industry. We can offer solutions through not only our technology, but through the knowledge base we have on our teams. We have very experienced people who have grown their careers in the market access space who know all of the nuance and difficulty it takes to bring clear, concise responses to very difficult questions and present it all in a way that is immediately actionable.
Why is oncology one of the most important spaces to watch in market access?
Oncology has the most new drugs coming to market. A large portion of our clients’ budget is focused on figuring out how to communicate oncology access options, and it’s simultaneously one of the most complicated scenarios to visualize and provide immediate responses to. It’s an extremely hot topic within market access. When our teams and clients think about oncology and other complex spaces such as immunology and rheumatoid arthritis, there’s not a single lens that can be used to look through when it comes to a market access strategy. The focus we’re putting in these complex areas helps the company, helps the industry, and at the end of the day helps the patients.
What’s your favorite part of your job?
My favorite part of my job is interacting with the people at MMIT and interacting with our clients. I consider us all partners, all coaches of each other and all students of each other. When we interact every day, we’re collectively working toward bringing solutions to market, and I really like the debate, the level of commitment, the intelligence and the market knowledge I get to interact with on a daily basis.
What do you like to do outside of work?
I have two teenagers. My son is a sophomore at Northwestern University and my daughter is a junior in high school, so I spend as much time as I possibly can (and as much time as teenagers will allow) having fun with them. I play bass in a classic rock band and share a strong love of music with my kids, who both play multiple instruments. I’m also an endurance sports enthusiast. I ran my 19th marathon in 2019 and plan to run my 20th in 2020. I do Iron Man triathlons, open water swim competitions, long bike races, and I’m also a hot yoga enthusiast. Working on our health is one of the few things that we can control in this world, and to take control of that is really important to me. I find enjoyment not in just the physical side of it, but the mental side of finding moments of clarity in doing something difficult.