Tag: health care services

real world evidence

Real World Evidence Analytics Engagement: Helping a Leading Healthcare Service Provider to Reduce Costs and Improve the Efficiency of Clinical Trials

The Business Challenge:

Real world evidence (RWE) studies have unearthed innumerable opportunities for market expansion. However, companies in the healthcare sector are expected to encounter several predicaments in the years to come that includes policy and regulatory issues, challenges arising due to technological advancements and product development challenges in clinical trial segments. Such challenges continue to loom over the global healthcare industry, but the research says that by applying real world evidence systematically healthcare companies can realize billions in reducing the cost of care across different segments of the healthcare industry. Real world evidence can play a crucial role in designing and implementation of value-based contracts and can provide valuable inputs to ensure the alignments of risk from all sides and track patient outcomes. Additionally, real world evidence has the potential to bring transparency and objectivity into the healthcare programs and can help break through various healthcare barriers existing today.

The client is a leading healthcare service provider based out of the United Kingdom. The healthcare service provider is well-known for offering the highest quality of innovative patient care, with several healthcare centers spread across Scotland and Northern Ireland. The client was looking for suitable methods to counter the rising costs in managing the avalanche of data. Also, with clinical trials getting more complicated, they were looking for solutions to maintain electronic health records and validate the patient data in real time.

Real world data analytics has the potential to extract insights from disparate data sources and transform healthcare ecosystem. Want to know how? Get in touch with our experts now.

Solutions Offered and Value Delivered:

Quantzig’s real world evidence analytics solutions helped the client to understand two critical imperatives that are driving healthcare transformation namely, cost control and improvements in clinical trials. This helped the client to proactively examine the safety, efficacy, and ethics of their clinical trials. Also, our experts successfully delivered detailed insights into treatment pathways and pricing levels by developing a customized real world evidence platform and integrating it with the clinical database. With such in-depth insights, the healthcare industry player was able to adopt a business model that helped them experience a significant reduction in the cost and improvement in the efficiency of their clinical trials in the span of less than two weeks. Application of real-world data analytics helped the client to:

  • Link patient and clinical data across disparate sources
  • Satisfy customer demands for cost-effective healthcare services
  • Accelerate time to market by 16% through a constructive marketing strategy

Our real evidence analytics solutions offer real-time feedback to healthcare companies and help them identify potential development areas. Request a FREE proposal to know more about our portfolio of services.

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Benefits of Real World Evidence Analytics

#1. Determine outcomes based on larger data sets

Real world evidence makes use of the medical data gathered from a variety of patients in real time. These data sources vary from electronic health records to social media and blogs. RWE provides an accurate data analysis that can help healthcare companies in deriving better conclusions and ascertain the effectiveness and ROI of healthcare services offered. 

#2. Improves the efficiency of clinical trials and reduces cost

Irrelevant datasets can lead to misleading results and can result in lesser reliability of clinical drug trials. This can further increase the cost of research and development. But by leveraging real world evidence analytics solutions, multiple sources of data can be integrated to determine actual patient outcomes. This can further help in deciding whether a clinical trial design will give meaningful results and will be cost effective.

#3. Respond faster to adverse healthcare developments

Real world evidence analytics helps in collecting post-trial information about a drug in real time. This can help healthcare providers to quickly identify negative reactions, side-effects, and medication errors, thereby restricting potential harm. Furthermore, the gathered information can also facilitate recommendations of medications based on the symptoms of the disease and the status of patient health.

Our customized real-world evidence platform can help you bridge the gap between technology and end-users to optimize patient empowerment. Request a FREE demo below to know more.

#4. Personalize drug treatments

Real world study helps in scouring a large number of patient records and tracking patients in real time. It helps in finding patients who can most benefit from a specific medicine due to various factors like their genetics and particulars of their illness. Furthermore, the real-world application can also identify potential side-effects and can help healthcare providers to offer personalized drug treatments.

#5. Identify potential markets and underserved patients

Real world evidence analytics provides population data based on disease trends and medical outcomes. This can help pharmaceutical companies gain insights into patterns of treatment, epidemiological trends, adherence of patient and can offer disease management opportunities. This can be further used to identify potential markets and develop new products and therapies for which market demand is really high.

Why Quantzig?

Quantzig has a team of experts that comprises data scientists and real world evidence experts who focus on real world data analysis and implement evidence-based approaches to tackle healthcare challenges. Our team of analysts works closely within a cross-functional team to guide clients efficiently deal with large real-world databases and identify various risk factors and evaluate the drug treatment efficacy to complement clinical trial outcomes. Quantzig also has the expertise in offering a wide range of analytic solutions that can help tackle a plethora of challenges faced by companies in the healthcare sector, including risk management, and patient-centric issues.

Real World Evidence Analytics Case Study: Leveraging Real World Data for a Physiotherapy Services Provider

What the Client Wanted

Leverage real world evidence analytics to embrace new partnerships with physiotherapy services providers, adopt strategies, and technologies to realize opportunities to discover, optimize, and drive organizational value.

The Outcome

Leveraging the use of real world data with the help of Quantzig’s real world evidence analytics enabled the physiotherapy services provider to improve health outcomes of patients.Request Proposal Implementing real world evidence based solutions enabled the client to discover enhanced strategies and harness new capabilities to support external collaborations with health systems, patient advocacy groups, and other real world data aggregators within the health care services sector.

Overview of the Health Care Services Industry

The global health care services industry is fraught with multiple challenges arising due to a multitude of factors ranging from organizational inefficiency to poor technology adoption. In order to succeed in an increasingly competitive healthcare market, organizations offering health care services should invest significant amounts in processes and technologies that help reduce costs and enhance access to care delivery. This makes it essential for health care services firms to seek an experienced company such as Quantzig to assist them in investing in the future by leveraging real world evidence analytics to be a part of an evolving healthcare landscape.

Challenges Faced by Companies Offering Physiotherapy Services

  • The emergence of real world evidence-based practices: It is essential to leverage the use of real world data in the physiotherapy services segment to enhance the efficiency of services offered.
  • The need for documenting electronic health records: Documentation of electric health records of patients plays a key role in future planning, research, and in devising solutions for major challenges faced by health care firms. It also helps measure the effectiveness of services.

About the Client

A leading player in the health care services industry, offering physiotherapy services for addressing several issues such as curing diseases, injuries, and disabilities.

Client’s Challenge

To enhance the efficiency of services, the client – a leading physiotherapy services provider – approached Quantzig. The client wanted to leverage our vast experience in real world evidence analytics to embrace new partnerships with physiotherapy services providers and realize new opportunities by integrated real world data from several sources across their organization. The physiotherapy services provider wanted to leverage real world evidence analytics to devise a suitable workflow and enhance their organizational goals.

Benefits of our real world evidence analytics solution

 Physiotherapy Services

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Business Impact

The real world analytics solution offered by the analytics experts at Quantzig enabled the physiotherapy services provider to overcome several data-driven challenges. It helped them leverage the use of real world data to deliver enhanced services. Additionally, the consolidation of real world data offered an in-depth understanding that enabled the physiotherapy services provider to enhance their overall business strategies.

Real World Analytics Solution Insights

To make the most of new market opportunities and to thrive in today’s technology-enabled world, players in the physiotherapy services segment should focus on devising a real world evidence based end-to-end operating model. It includes the development of effective strategies, technology adoption, and analytical solutions to ensure that they possess the ability to integrate real world data sets and understand the appropriate resources for the necessary analytics, as well as tactical issues surrounding real world data.

To know more about our real world evidence analytics solutions

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data warehousing and data mining

Developing an Effective Salesforce Dashboard for a Health Care Services Provider

What the Client Wanted

Develop and implement a salesforce dashboard to closely monitor salesforce effectiveness in the health care services segment.

The Outcome

This salesforce analytics engagement entailed the implementation of a new salesforce dashboard that helped the health care services provider to improve business processes and drive revenue growth. The salesforce dashboard also enhanced the visibility of real-time data; thereby, increasing speed and agility that is required to refine business functions and improve results.

Overview of the Healthcare Services Industry

With outcomes, quality of service, and value becoming the watchwords for leading healthcare services providers, stakeholders in this sector are increasingly focusing on implementing profitable and state-of-the-art techniques to deliver patient-centric services. Additionally, the health care services sector has been facing several challenges owing to declining margins and revenue pressures. Such factors are anticipated to persist in the coming years due to infrastructure upgrades, the rise in demand, and technological and therapeutic developments.

However, a successful transition to value-based health care services requires the market players to look beyond transaction-based treatments and focus on the providing holistic services. Implementing innovative healthcare models Request Proposalbased on analytics and data help health care services players to leverage the efficiency of services- Quantzig’s salesforce analytics is one such solution that aims to change the way health care firms deliver care.

Healthcare Services Industry Challenges

  • Implementing data analytics: Implementing big data helps gain meaningful insights into real world data to enhance patient outcomes. However, health care services providers face several challenges in establishing a secure database for collecting and analyzing healthcare data.
  • Overall consumer health: Health care services firms are now focusing on the consumer’s overall health by emphasizing on value-based care. This requires them to gain a detailed understanding of the unique heal care services and needs of various population segments.

About the Client

A prominent healthcare services provider.

Client’s Challenge

To identify the performance indicators and key metrics of organizational growth, the client – a leading healthcare services provider – approached Quantzig. The client wanted to leverage Quantzig’s vast experience in salesforce analytics to their benefit and gain actionable insights to enhance the efficiency of their services by developing a robust salesforce dashboard.

Benefits of our salesforce analytics engagement

Salesforce Dashboard

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Business Impact

With the help of Quantzig’s salesforce analytics solution, the client was able to implement a salesforce dashboard to aggregate patient data from several sources across the organization. This assisted them to curate health care data and identify key performance metrics.

By devising an effective salesforce dashboard, the client was able to gain a panoramic view of customer demands across various segments. The salesforce dashboard also helped the client to revolutionize patient care by turning valuable data into meaningful insights and enhancing the development process to introduce new products to the market at a faster pace.

Salesforce Analytics Solution Insights

Analytics-based platforms are gaining extensive applicability in a number of industry domains and are poised to witness wide-spread adoption in the coming years. Also, with the innumerable challenges that have unfolded in today’s rapidly changing health care services market, salesforce dashboards act as a key performance indicator that reports past performance while offering detailed real-time insights to help improve the efficiency of services.

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Quantzig’s Data Governance Helps a Renowned Health Care Services Provider Improve Healthcare Governance

The client- A renowned health care service provider

Area of engagement- Data governance

The healthcare industry is shifting from a traditional fee-for-service model to a value-based model to address the increasing concerns for health. The health care services providers are deploying innovative care delivery models to deliver high-quality, cost-efficient, and smart health care access to the customers. Amid the rising revenue pressures and declining profit margins, the growth of the health care services space can be attributed to factors such as growing geriatric population, rising clinical and technology advances, and rising awareness about health and wellness. Although the health care services space is witnessing promising growth, owing to the presence of numerous competitors, several factors that may curtail the growth of the industry include.

  • Technology acquisitions and investments: Technology is growing at a fast pace and prominent health care services providers need to rely on robust technologies to extend their services and improve operational efficiency. In addition, the growing concern for the quality care and patient safety is also compelling health care service providers to leverage the use of digitally advanced health care solutions to offer better diagnostics and offer more reliable services to the patients.
  • Reducing costs: The spending on health care is outpacing all other expenses covering the majority of the consumers To cope up with rising costs, prominent health care services providers are planning to pursue new cost reduction measures, such as developing alternative staffing models and reducing the administrative and the supply costs.

To address such challenges and shorten lead times and efficiently reach out to the target audience, organizations are facing the need for a data governance solution. In the health care services space, data governance helps businesses manage health information throughout its lifecycle – right from the patients’ admission until the patient is discharged.QZ- Request free proposal

The Business Challenge

The client, a renowned health care services provider, wanted to understand and identify the healthcare industry trends and manage and leverage the use of data to stay in compliance with regulations and corporate policies. With the help of a data governance solution, the health care services provider wanted to monitor data and develop a strong data quality measures that are consistent and repeatable. Moreover, the primary concern of the objective was to leverage the use of these datasets to improve operational efficiency, reduce costs, and enhance the quality of care.


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The Solution Benefits and the Business Impact

Strategies that we recommend to manage data and improve data efficiency

The data governance solution offered by Quantzig helped the health care services provider understand the latest healthcare industry trends and gain better access to health care information. With the help of Quantzig’s data governance strategy, the health care services provider was able to extract clinical, financial, and administrative data to support organizational initiatives and improve the business value. Moreover, the data governance solution also assisted the health care services provider to make business decisions, optimize operations, and create new products and services.

Data Governance Solution Predictive Insights

Quantzig’s data governance solution helped the health care services provider implement policies and procedures for handling data. The data governance solution also offered insightful ways for the client to resolve issues and allowed health care service providers to make high quality and informed business decisions. The health care services provider was able to stay compliant, reduce costs, and mitigate potential risks.

To know more about how our data governance helped the health care services client understand the prominent trends in the healthcare industry

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Quantzig’s Transport Network Optimization Assists a Prominent Health Care Services Provider

The client: Health care services provider

Area of engagement: Transport network optimization

In the recent years, the healthcare sector has been facing revenue pressures and declining margins owing to infrastructure upgrades and technology advances. As the spending on health care is outpacing all other expenses, consumers in the healthcare sector are looking for affordability to manage their overall expenses. To meet the demand from the target audiences, healthcare stakeholders are necessitating the need for cost reduction measures, such as alternative staffing models, to curtail their administrative and supply costs. Although the healthcare sector is witnessing a promising growth due to the increase in the geriatric population, the market is expected to showcase certain drawbacks including:

  • Increasing costs: In the last decade, the spending on healthcare has seen a considerable growth from 2.4 percent in 2015 to 7.5 percent in 2020. To meet the rising demand for quality healthcare, organizations are facing pressure to implement cost-containment measures as a part of their service offerings. Moreover, governments across the globe are imposing stringent regulations to offer reliability in healthcare services to better manage population health and curb the rising costs of health and wellness.
  • Innovations: The current years have seen a remarkable growth in the innovations with advances in the treatment patterns in terms of robotic surgery, 3D printing, and implantable devices to target prevention, monitoring, and treatment of health concerns. With the relentless demand for innovations in healthcare, organizations are facing pressures to invest highly in R&D and curtail additional costs.

To address these challenges and offer seamless movement of healthcare products to the target audiences, healthcare providers are in need of a transport network optimization solution.

The Business Challenge

A renowned health care services provider with a considerable number of service offerings spread globally wanted to determine the most efficient means of offerings health care services to the hospitals. The client wanted to maintain the desired service level to meet the operational constraints and minimize the cost of inbound and outbound shipments. With the help of transport network optimization solution, the client wanted to refine their existing supply chain model and incorporate alternative transportation options to meet the cost and time variables. The primary concern for the client was to reduce the operational inefficiencies in the transportation space.

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Transport Network Optimization Solution Benefits

The transport network optimization solution offered by Quantzig sought ways for the health care services provider to address capacity constraints, lower their carbon footprints, and streamline the transportation movements. The engagement assisted the client to determine the efficient means of delivering products while ensuring accuracy and visibility into the supply chain process. The engagement further focused on improving the time-to-market for the services rendered and gain better returns on investment.

Transport Network Optimization Predictive Insights:

The solution offered by Quantizg focused on reducing the cost of the distribution of the services to the end-user segments in the healthcare industry. The engagement further helped the client uncover inefficiencies in the existing supply chain and improve the supply chain performance. In addition, the transport network optimization engagement assisted the health care services provider to fulfill the end-user demands by refining their supply chain activities and allocating fixed and variable costs for the services rendered.

The Future

The future of the health care services will be marked by innovations with the help of connected devices such as IoT and big data analytics. Organizations will be able to adapt and innovate technology to create new frontiers in the healthcare value chain in terms of R&D, operations, and strategy.

To know more about how our analytical services helped the healthcare industry

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