Real World Evidence Analytics Helps Assess the Performance of Pharma Products
Advances in sensor technology, database management, and cloud-based data management capabilities have resulted in the generation of an enormous amount of unclassified data. Ingestible pills, nanotechnology, wearables, and integration of gaming into patient support programs are now being explored with the intent to enhance patient outcomes. Real world evidence(RWE) helps to assess and process the real […]READ MORE >>
Advances in sensor technology, database management, and cloud-based data management capabilities have resulted in the generation of an enormous amount of unclassified data. Ingestible pills, nanotechnology, wearables, and integration of gaming into patient support programs are now being explored with the intent to enhance patient outcomes. Real world evidence(RWE) helps to assess and process the real world data to derive actional insights. In the pharma and healthcare industries, real world evidence can be used to calculate the effectiveness of treatments offered and helps in clinical decision making. RWE analytics helps to keep track of the patient’s information and assess their usage of pharma products.
Quantzig provides real world evidence analytic services to its pharma clients and assists them to keep track of their dynamically changing patient’s database. Many firms belonging to the pharmaceutical industry are now approaching Quantzig to improve their understanding of products based on real world evidence.
The Business Challenge:
A renowned pharmaceutical industry client from the healthcare sector wanted to generate real world data and insights on a newly launched product. The client had introduced an innovative oral therapy as a cure for chronic respiratory diseases. The pharmaceutical industry client wanted to demonstrate the benefits of the launched product on the patient’s quality of life (QoL).
Also, the client wanted to implement real world evidence to develop a new platform for the patients to determine how new pharma drugs or products were performing. Such insights would help the pharmaceutical industry client to estimate the effectiveness, safety, and cost-benefits of pharma drugs.
Real World Evidence Analytics Solution Benefits:
Quantzig’s real world evidence analytics solution helped the pharmaceutical industry client leverage innovative technologies. The solution also empowered the client with information on the product’s benefits to facilitate inclusion in the reimbursement policy. The insights gained from this real world evidence study also helped the pharmaceutical client build a robust platform using real world data, which provided them with a leading edge in terms of the performance of the products. It also collects massive chunks of information from the heterogeneous patient population based on real world data. By utilizing, RWE, it is possible to access how the drugs or products are performing. The real world data also helps calculate the performance beyond the scope of clinical trials.
Moreover, it also helps health organizations to interpret data from clinical trials, drug usage patterns, and treatment outcomes of patients. Analyzing and assessing large volumes of data can be difficult, but due to real world evidence analytics, the entire process of data management gets easier.
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Real World Evidence Analytics Solution Predictive Insights:
- Analyze and understand diverse patient data
- Accurate conclusions about medications
- Improve ROI for pharmaceutical companies
- Help to identify new market opportunities and patient populations that are underserved
- Provide comprehensive insights into the treatment pathway and treatment outcomes
- Aid in scientific collaboration with experts and key stakeholders
- Bolster patient safety by identifying medication side-effects and contraindications
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