Syneos Health, Inc. (NASDAQ:SYNH) Q4 2022 Earnings Call Transcript

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And so it was really around aligning our salespeople with our leaders within the business operationally. And so, by doing that, we believe that, that is why we are seeing the green shoots we are seeing, right? That’s why we are seeing the sixth large pharma partnership. That’s why we are seeing our repeat business improve in Q4 with SMID customers. And so, I would reframe it as we looked at what did the market need and what was the best way to mix our existing talent, along with bringing in new talent that has some of the capabilities that we needed to make sure that we could be extremely competitive. I think that’s how I would frame it.

David Windley: Okay. Thanks for that. And I guess, my second question is related around your consolidation of projects. I think investors will probably welcome the reduction in the number of names of projects that you are working on. So kudos for that. The — I guess, I will ask it this way, do you think Clinical Reimagine is now Project Velocity. What specifically about the Clinical operating model is changing that the customer will see? Michael, you gave an anecdote from a client that maybe bears on this. But is it simply reduction in spans of control and our expansion of spans and control, more direct reports to people or are there more fundamental changes to the Clinical operating model that the client would need to step back and evaluate that might have a further kind of depressing impact in the short run to bookings?

Michelle Keefe: So I will start and then I will let Michael give you more color. So the changes that we have made have really been under the umbrella of getting decision makers closer to the customers, right? That should be the, I think, the umbrella statement, right? We want to make sure that our customers have access to the decision makers who can do the things they need to do to make sure that we are able to achieve the goals of every single Clinical trial that we are running. So I think that’s the first thing. The second thing that we are doing that I think is really having a lot of impact is, bringing a lot of our technology solutions in earlier into each and every opportunity that is brought to us, as well as introducing them to existing customers where they make sense along the journey of where we are in that Clinical trial.

So we are seeing some really great positive feedback and some great results around patient identification, patient enrollment, feasibility, our relationships with sites, as well as our relationship with patients throughout the journey of the trial. So we are really using automation and technology solutions, along with some of the things — our StudyKIK business, as well as some of the things we have developed through RxDS. So we are bringing, I think, a much more streamlined approach to our customers and our feedback has been very, very positive. So, but I will let Michael maybe give you more granularity and color around how it shows up in front of the customer, because the feedback that I have gotten, David, is extremely positive from customers who have worked with us for a long time, as well as the brand-new customers.

So Michael?

Michael Brooks: Yeah.

David Windley: Okay.

Michael Brooks: So, David, as we have been implementing the changes over the course of last year and into this year. We have been doing it incrementally, introducing — first piloting and then introducing new capabilities that we believe bring benefit to our customers. Number one is, we did have some competitive gaps in things, like data visualization tools and some of our statistical modeling tools. We use RxDataScience to help us close those gaps very quickly. So in a period of nine months, they are able to get those closed for us. And so clients got a really good benefit from now having good data visualization, seeing into the projects and being able to see the modeling out of various things, like, site activations, enrollment and data.

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