The consumers of today have a variety of treatment options to choose from and are constantly on the look out for effective ways to cure their illnesses. Also, with the changing preferences of the consumers, the pharmaceutical industry players have started relying on real world evidence analytics to deliver effective patient-journey insights across functional teams. Real world analytics enables organizations to compete with a critical advantage, drive patient value, design more successful clinical trials, and respond to ever-changing market dynamics. Consequently, pharma companies can leverage the use of real world evidence to gain actionable insights on how a drug or drug class performs in real world medical settings. In the oncology setting, companies can leverage real world evidence to develop better therapies, provide verifiable evidence for payers, and differentiate their offerings in the healthcare market. By analyzing real world data from existing datasets, organizations can provide clear descriptions of treatment patterns, resource use, and the associated cost of the treatment.
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Quantzig’s real world analytics solution helps the client gauge real-time information on drugs for safety and efficacy in the wellness ecosystem. Also, the solution further emphasized the effectiveness of new drug treatments on patient outcomes. The solution further staged the reason for the increasing product recalls and emphasized on real world analytics to deliver promising wellness to the consumers.
The Business Challenge
Like all other pharmaceutical companies, a leading oncology client was trying to leverage the use of real world analytics investments to gain strategic insights into their disease portfolios. The client was facing challenges in gaining relevant market insights based on patient data. The primary objective of the client was to devise a cost-effective solution to access relevant patient data within a very short time frame. The oncology franchise was also facing predicaments to integrate new data sources and to analyze them. Moreover, the client lacked a user-friendly interface for searching and reporting.
To address the aforementioned challenges, the client sought the help of Quantzig’s real world analytics team. Quantzig’s team of experts carried out extensive research to gain a comprehensive view of real world data. Also, the experts created a user-friendly interface to meet the specific needs of the company. The team also compiled information across large claim databases and electronic medical records to gain an in-depth understanding of the use of real world analytics.
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Real World Evidence Analytics Solution Benefits
- Gain a detailed calendar view of the disease progression
- Classify the disease based on severity into mild, medium, and severe
- Analyze hazard ratios based on patient cohorts
- Gain quick insights into patient treatments and discover trends in treatment pathways switching history, and the treatment patterns
- Assess information to point out the future clinical trials
Real World Evidence Analytics Predictive Insights
- Determine optimal pricing based on product effectiveness
- Understand treatment patterns and their outcomes
- Determine unmet needs by evaluating the cost of illness
- Leverage the use of real world data to make more timely and informed decisions
- Gain a consolidated view of patients based on the severity