Today, pharmaceutical manufacturing companies have started adopting real world evidence analytics to gain insights into the untapped opportunities and increase market shares thanks to the wide variety of treatment options available to the consumers. Also, customer preferences in this market space are ever-changing, and customers are constantly on the lookout for quick and effective ways to cure their illnesses. Real world evidence analytics helps pharmaceutical manufacturing companies to respond to the ever-changing market dynamics and compete with the major players to drive patient value. As a result, pharmaceutical manufacturing companies have started leveraging the use of real world evidence analytics to gain actionable insights into the treatment landscape and its performance in the real world healthcare setting.
Moreover, Quantzig’s real world evidence analytics solution helps pharmaceutical manufacturing companies evaluate the real-time information on treatments and its effectiveness for several medical conditions. Additionally, these solutions help companies in this market space to gain an in-depth understanding of product failures and ways to deliver superior services to customers in the healthcare sector.
The Business Challenge
A leading pharmaceutical manufacturing company with offices spread across the globe was facing serious challenges in tracking the market share and frequently updating static reports based on changing stakeholder requirements. As a result, they wanted to analyze the future growth opportunities and track market shares based on the performance of two oral oncolytic drugs they had launched a year back using both internal and real world data.
To cater to the pharmaceutical manufacturing client’s business requirements, Quantzig’s team of real world evidence analytics experts identified the set of business rules to create a validation framework and understand the efficacy of clinical trials against real world data findings and insights from a patient journey analysis. We also developed a rule-based optimal treatment algorithm to predict the best treatment options based on cancer progression and risk of surgery. Additionally, the integration of medical and pharmacy data at patient level enabled the creation of a complete market picture.
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Real World Evidence Analytics Solution Benefits
The pharmaceutical manufacturing client collaborated with Quantzig to address their needs for a real world evidence-based solution for tracking and monitoring the market share and simulating outcomes for physicians. These solutions helped the client design a rule-based algorithm to arrive at the best treatment option for a particular medical condition. Also, the real-time dashboard created by Quantzig helped the client assess drug performance across numerous dimensions including drug sales volumes, market share, duration of therapy, and other major events.
Furthermore, the pharmaceutical manufacturing client was able to speed the development of new treatments and provide verifiable evidence to their customers to differentiate their brand from their competitors.
Real World Evidence Analytics Solutions Predictive Insights:
- Identify customers based on drug and treatment usage
- Understand and analyze the diverse patient data
- Understand treatment patterns and their outcomes across various health conditions
- Develop a real-world strategy to deliver superior services to the customers in the healthcare sector
- Make timely and informed decisions