Tag: Healthcare Companies

real world evidence analytics

Quantzig’s Real World Evidence Analytics Solutions Helped a Leading Healthcare Company to Improve Clinical Trial Efficiency and Increase Spend Effectiveness by 47%

The client is a leading healthcare company based out of the U.K that is known for providing solutions for hospital systems, ambulatory surgery centres, clinical laboratories and physician offices across the world.

Over the past few years, companies in the healthcare industry have invested considerable resources in real world evidence (RWE) analytics. Differential success rates have been observed, with little consensus on best practices or value potential. However, the most successful healthcare companies have realized substantial value across the product and drug development lifecycle through real world evidence platforms and they are poised to capture sustained value. Also, a few leading healthcare companies have broken new ground with their systematic rather than opportunistic approach to real world evidence analytics. Such healthcare industry players are implementing real world evidence analytics solutions that move beyond narrow research-based approaches to create sustained value across the product lifecycle and drug development processes.

Our real world evidence analytics experts work with your team toward bringing real-world and commercial insights into your clinical development planning process to help you make well-informed business decisions. Get in touch with them right away.

Business Challenge:

The client, a leading healthcare industry player with presence across different healthcare segments, wanted to demonstrate the comparative efficacy of its new drug in the cancer drugs segment. For this, they needed to analyze the healthcare industry segments to ensure the safety and tolerance of the drug. However, they were finding it difficult to collect and analyze the huge volume of real world data sets. This is when they approached Quantzig to leverage its expertise in offering real world data analytics solutions.

By leveraging real world evidence analytics solutions, the client wanted to establish appropriate statistical methods for analyzing real world data to avoid making inappropriate statistical inferences and regulatory decisions. Also, the healthcare company wanted to cost-effectively compare the cost efficiency and the associated benefits of its drugs against competing products offered by market leaders. Additionally, the client was facing major issues due to their inability to identify patient cohorts based on drug usage and clinical outcomes such as clinical quality measures, readmissions, and length of stay. Furthermore, with the help of real world evidence analytics solutions, the client wanted to systematically gauge its commercial spend effectiveness and product launch planning.

Quantzig’s real world evidence analytics solutions offer comprehensive insights on treatment pathways, patient adherence, disease progression, pricing levels and market access, drug safety, and patient engagement. Request a FREE proposal to gain in-depth insights.

Solutions Offered and Value Delivered:

The real world evidence analytics experts adopted a three-phase comprehensive approach to help the client understand and tackle its core business challenges. In the first phase of the real world evidence analytics engagement, the experts focused on designing and development of a real world evidence platform by leveraging off the shelf real world data. The second phase of the real world evidence analytics engagement revolved around the integration of the real world evidence platform with the clinical database. The third and the final phase of the real world evidence analytics engagement focused on improving the accuracy of the extracted real world data to enhance the product development processes.

The solution offered helped the client to respond to the safety and quality issues of their drugs in real-time. Also, the healthcare company gained a detailed insight into treatment pathways, patient care and drug effectiveness. By leveraging shared forecasting and disease progression models, the client was successfully able to leverage service planning to improve cost efficiency. Furthermore, Quantzig’s real world evidence analytics solutions helped the client to use real world data to support clinical developments, improve new product launches, and drive better commercial results through physician targeting, detailing, and other promotional activities.

Quantzig’s real world evidence analytics solutions are specifically designed to help healthcare organizations evaluate the drug treatment efficacy and cost-effectiveness of therapies. Request a FREE demo to know more.

Quantzig’s Real-World Evidence Analytics Solutions Helped the Client to:

  • Identify the right cohorts of patients for product development and clinical research
  • Determine long-term adverse drug effects, leading to better decisions about future clinical trials
  • Improve clinical trial efficiency and enhance commercial spend effectiveness by 47%

Benefits of Real World Evidence Analytics Solutions

RWETo learn more about how our real world evidence analytics solutions can help you increase clinical research efficiency and targeted plans, request for more information below.

Patient Journey

Patient Journey Analytics: Enabling Advanced and Optimized Patient Care

To stay relevant in today’s constantly evolving and competitive health care marketplace, healthcare service providers have started finding novel methods to demonstrate the value their products deliver and strive for innovation. Many healthcare companies provide excellent clinical care but fail when it comes to administrative experiences. By leveraging patient journey analytics solutions, healthcare companies can implement processes and programs that deliver relevant and timely information and fill gaps that cause leakages in the patient experience. This practice can be helpful in improving pre- and post-clinical engagement, as well as further health initiatives.

Quantzig’s patient journey analytics solutions help healthcare companies to reduce the cost of care and gain a competitive advantage in the market. Request a FREE proposal to gain detailed insights into our complete portfolio of analytics services.

We at Quantzig, understand the predicaments healthcare companies face while streamlining patient experience. And for over 15 years, we have helped numerous companies overcome market challenges by leveraging our industry-leading data modeling and analytics capabilities. In this article, our experts have highlighted the key benefits of patient journey analytics to help healthcare organizations drive excellence and identify indicators that may result in churn.

Benefits of Patient Journey Analytics

Benefit #1: Helps in stopping care silos

Every healthcare company has blind spots that can occur anywhere, right from appointment scheduling to point-of-care to discharge and follow-ups. Patient journey analytics helps in mapping the workflow of the organization that makes loopholes in the patient care more visible. By identifying such blind spots, healthcare organizations can avoid risks or negative patient experiences in some cases.

Whether you are a part of the marketing, product development, or customer experience team at a hospital, a pharma company, or a health insurer, patient journey analytics should be part of your toolbox for customer research. If you would like to learn more about customer journey analytics, get in touch with our experts today.

Benefit #2: Unveils pain points in patient’s journey

Patient journey analytics can unveil various pain points along the patient journey. Gaining a better understanding of the different pain points that a patient has within the journey can help healthcare organizations to create an opportunity for improvements in operations and keep a track of the patient flow. Furthermore, this can aid in advanced and optimized patient care.

Benefit #3: Make an emotional connect with patients

By leveraging patient journey analytics, healthcare service providers can better understand the patient journey. This can allow them to better empathize with the patients. Patient journey mapping can illuminate the emotion of an encounter and highlight the feeling of the patient about a specific interaction. Such insights help organizations to understand better how to connect with patients on an emotional level to meet their requirements.

Our analytics solutions provide best-in-class frameworks to assist healthcare organizations to get maximum sales and insights out of every customer relationship and interaction. Request a FREE demo below to know more.

Read our latest success story to know how our patient journey analytics solutions helped a Denmark based pharma company to identify the most effective drug and treatment pattern based on patient characteristics.  

Revolutionizing Drug Development and Patient Care Using Patient Journey Analytics – A Customer Success Story

Predictive Analytics in Healthcare

Factors Behind Canada’s Healthcare Crisis – Everything You Need to Know

The Canadian healthcare system is complex, but it’s built on the basic principle that focuses on providing healthcare access based on need rather than the ability to pay. The Canadian healthcare system deploys decentralized administration and service delivery systems that are accessible to all groups of people. However, despite the pros like universal accessibility and special care for special needs, the Canadian healthcare system is facing several obstacles due to changing healthcare landscape in the ageing society. In this article, our healthcare industry experts have highlighted a few critical challenges facing the Canadian healthcare system that healthcare companies must not overlook.

Quantzig’s real-world evidence-based solutions help healthcare companies with comprehensive insights into treatment pathways, patient adherence, and disease progression. Request a FREE proposal to gain better insights into our portfolio of healthcare services.

Challenges Facing the Canadian Healthcare System

Long waiting periods

Owing to the universal accessibility of the Canadian healthcare system, the number of patients is always high leading to an increase in wait times. Canadians mostly have timely access to world-class care for chronic problems like heart attacks, strokes and cancer care. But for many problems that are not urgent, they typically wait as long as many months or even years. For example, patients who need replacements of hip or knee, shoulder or ankle surgery, cataract surgery or a visit with a specialist for a consultation tend to wait for a longer period of time than recommended. At times, this becomes frustrating and can make a non-emergency situation life-threatening due to negligence and delay. Therefore, policymakers, as well as the management, should look at ways to do away with such long waiting periods.

Wondering how to improve healthcare decision-making and design initiatives to promote superior services? Our healthcare analytics solutions can help. Get in touch with experts right away.

Unrealistic fees

Healthcare providers are mandated by law to charge a certain fee or amount of money for specific treatments and medical interventions. Unless the fees are practical and they ensure that the healthcare providers can keep operating, the Canadian Medicare system will remain flawed. Most welfare schemes end up burdening the average taxpayer. However, healthcare players bear the brunt of the financial fallout with low fees which is unviable in the long run.

Our healthcare analytics solutions are specifically designed to help healthcare companies evaluate the drug treatment efficacy and cost-effectiveness of therapies to complement clinical trial outcomes. Request a FREE demo below to know more.

Accessibility in rural areas

Basically, the funding of the Canadian healthcare system is done based on the location and the demographics. Cities and towns that are more populated get adequate funding, but sparsely populated regions get fewer funds. Due to the scarcity of funds, the scope of growth and development is confined. As a result, people living in rural areas travel to cities for adequate healthcare. Several complicated health conditions cannot be attended to by rural healthcare providers and the pace at which the rural healthcare scenario is changing is not encouraging either.

Want to learn more about the challenges that the Canadian healthcare system is facing? Request for more information now!

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Weekly Round-Up: A Storyboard on Healthcare Analytics and its Importance in a Fast-Changing World

LONDON: Quantzig, a leading analytics services provider, has announced the release of their new storyboard on the growing importance of healthcare analytics. These downloadable resources explain how healthcare analytics have helped healthcare players to reduce inefficiencies, minimize cost, and forecast future healthcare plans.

Today the healthcare industry is facing the heat of skyrocketing cost of care. Companies in the healthcare sector are trying to address the critical challenges by enhancing data sharing across the value chain. This is the reason why they are looking to leverage healthcare analytics solutions to improve business operations, patient experience, and healthcare outcomes. Analytics in healthcare can help companies to build multidimensional predictive models, enhance healthcare outcomes, and reduce the cost of care.

Quantzig’s analytics solutions have helped companies in the healthcare sector including medical devices, pharma, diagnostics, and healthcare delivery to gain actionable insights into patient care, mitigate risks, medical cost management, and improve payment accuracy. Below, we have summarized some of Quantzig’s free resources that highlight ways in which healthcare analytics have solutions helped healthcare businesses to gain a competitive market advantage.

Digitization has empowered healthcare businesses to gauge the impact of analytics on patient experience and outcomes. Wondering how?  Get in touch with us right now!

#1. How is healthcare analytics transforming the healthcare sector? Do you think maximizing profit by reducing healthcare costs is a herculean task? If yes, then it is time for you to leverage healthcare analytics solutions. Healthcare analytics can help businesses to implement a new model of payment on the basis of performance. Here the healthcare providers can receive the value determined by outcomes. Also, customized analytics tools and real-time dashboards can help in scrutinizing the supply chain to optimize healthcare service and patient care.

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Are you wondering how to optimize healthcare service and maintenance operations? Analytics in healthcare and real-time dashboard can help. Request a free proposal to know more about our healthcare analytics solutions.

#2. Learn how healthcare analytics can modernize the patient journey?  Today healthcare companies may question the value of improving patient experience amidst multiple priorities. But with analytics in healthcare, it seems to be a simpler task. Healthcare analytics can also help map the patient’s journey and assist healthcare companies in bridging gaps that result in leakages in the patient experience.

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Maximizing sales and marketing insights that can be obtained out of every patient interaction is a tough nut to crack and we understand that. Our healthcare analytics solutions provide best-in-class frameworks to assist healthcare organizations in enhancing patient care and outcomes. Request a free demo for more insights.

#3. Customer lifetime value models hold the solution to rising consumerism in the healthcare sector: Customer lifetime value models have always been of great importance for the retail sector, but these models have the potential to solve critical challenges in the healthcare sector too. You must be wondering how? Healthcare analytics by leveraging customer lifetime value models can help companies to enhance their relationship with patients and can lead to more compassionate patient experience.

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How is the Power of Patient Journey Mapping Transforming the Patient Experience?

patient journeyIn the face of limited resources and multiple priorities, healthcare organizations may question the value of improving and measuring the patient’s experience with care. Yet, regulatory trends and powerful healthcare market, combined with patient journey mapping, make a compelling case for improving the patient experience.

Recent research shows that any industry can benefit from mapping the customer’s journey, and the healthcare sector is no exception. The truth of the matter is, many healthcare companies provide excellent clinical care but fail when it comes to administrative experiences. By using patient journey mapping as a guide, healthcare marketers can implement processes and programs that deliver relevant and timely information and fill gaps that cause leakages in the patient experience. This practice can be helpful in improving pre- and post-clinical engagement, as well as further health initiatives of the population.

We at Quantzig, understand the predicaments healthcare companies face in providing a good patient experience. This is where patient journey mapping can help significantly but for patient journey mapping to be effective it is very important to understand which patient journey matters and why. And to help companies excel in the competitive healthcare industry, our team of experts has highlighted the benefits of patient journey mapping, challenges companies face in mapping patient journey, and a few important ways in which patient journey mapping can drive excellence and find indicators that are crucial to the patients.

Whether you are part of marketing, product development, or customer experience team at a hospital, a pharma company, a device manufacturer, or a health insurer, patient journey mapping should be part of your toolbox of customer research. If you would like to learn more about journey mapping, contact one of our experts today.

What is Patient Journey Mapping?

Patient journey mapping is an exercise that can be done by healthcare companies to better understand what individual patient experience throughout his/her journey. The patient journey map outlines all the patient touch points during every stage of the care journey and helps in creating strategic outreach that enhances patient engagement, satisfaction, and patient flow.

The patient journey typically consists of six stages:

  • Awareness
  • Help
  • Care
  • Treatment
  • Change in behavior or lifestyle
  • Ongoing Care or proactive Health

Using patient journey mapping as a guide, healthcare marketers can craft personalized and strategic outreach that keeps patients engaged throughout the care journey and encourages lasting patient-provider relationships.

Benefits of Patient Journey Mapping

Benefit #1: Helps in stopping care silos

Every healthcare company has blind spots that can occur anywhere, right from appointment scheduling to point-of-care to discharge and follow-up. When the workflow of the organization is mapped, these blind spots become more visible. These blind spots often lead to increased risk or a negative patient experience in some cases. Patient journey mapping can provide solutions to such issues.

Still, want to know more about the benefits of patient journey mapping? Request for more information here.

Benefit #2: Guide patient expectations

Patient journey mapping helps healthcare companies to solve one of the biggest problems that a patient faces, which is, not knowing what is supposed to happen next. The unknown or confusing instructions the patient receives during their journey creates a bad impact on the business. Furthermore, this leads to a lack of adherence to their care plan.

Benefit #3: Uncover pain points

Patient journey mapping can unveil pain points along the way. A better understanding of the different pain points that a patient has within the journey can help healthcare companies to create an opportunity for improvements in operations and keep a track of patient flow.

Benefit #4: Connect with patients emotionally

Understanding the patient journey allows companies to better empathize with the patients. Patient journey maps can illuminate the emotion of an encounter and highlight the feeling of the patient about an interaction. These insights provide a better understanding of the organization of how to connect with patients on an emotional level to meet their requirements.

Benefit #5: Make the care continuum continuous

When patients are referred outside of any healthcare organization, there is often a gap in communication between providers. These gaps could be a result of technology, geography, and network among other circumstances. As a result, often the care continuum does not feel continuous from the lens of the patient. This creates opportunities for gaps in care, thus, impacting overall patient outcomes, revenue, and the bottom line. This is where patient journey mapping can help.

Quantzig’s healthcare analytics solutions help clients in the healthcare industry including pharma, medical devices, diagnostics, and healthcare delivery companies to reduce costs, address key challenges, increase margins, and gain a competitive advantage in the market. Request a free proposal today to know more about the portfolio of services.

Benefit #6: Close-the-Loop

Communication breakdowns are at the core of most negative patient interactions. If the expectations of a patient are not communicated throughout the touchpoints on the patient journey, there are high chances that this expectation is not going to be met. Patient journey mapping can help in quickly identifying and resolving any patient issues. This can help in improving patient experience and create better efficiencies for your practice.

Benefit #7: Assists in continuous improvement

Collecting data of patient journey is important, but what matters the most is what you do with the data. Patient journey mapping helps in having the proper plan in place to examine this data regularly. Furthermore, this will help to understand recurring issues, systemic themes, and improvement opportunities.

Challenges in Patient Journey Mapping

Challenge #1: Investment

Healthcare companies to implement patient journey mapping into their process, need investment in terms of time and costs. This investment is required to capture the data from the current journey of the patients and their experience.

Challenge #2: Complexity of patient journey

Healthcare companies face the issue of complexity in the patient journey which makes it very difficult for them to know the point from where they should start mapping their patients. 

Challenge #3: Lack of proper skill set

Businesses may not have the appropriate skill set to capture the required patient data. This makes things even more difficult and challenging. Consequently, companies end up collecting useless or least valuable data and cannot obtain desired results.

Challenge #4: Regular monitoring of the patient outcomes

It needs to be updated and validated to keep up with constantly changing user needs, behaviors, technologies, and developments in an organization’s proposition. There may be pressures on the business to deliver customer initiatives that can be more readily measured in terms of impact on the bottom line.

We understand the challenges healthcare organizations face with the changing customer demographics in the healthcare spectrum. Our analytics solutions provide best-in-class frameworks to assist healthcare organizations to get maximum sales and marketing support and insights out of every customer relationship and interaction. Request a free demo below for more insights.

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demand and capacity planning

Telemedicine Services in a Nutshell: All the Answers You Have Been Looking For

What is telemedicine in healthcare? 

In the broad sense, telemedicine refers to a practice of ensuring patient care in circumstances where the provider and patient are not physically present with each other. The boon of modern technology now enables patients to consult doctors and gain telemedicine benefits by using appropriate video conferencing tools. Telemedicine services make healthcare more accessible and cost-effective thereby increasing patient engagement.

Since making its debut in the late 1950’s, advances in telemedicine services contributed to seniors having the choice to age in place. In addition, the patients that reside in rural areas previously had difficulties accessing a physician, however, they can now leverage telemedicine benefits and reach doctors virtually. Patients and physicians can share information virtually and in real time through their computer screens. Furthermore, it is also possible to see and capture readings from medical devices at a faraway location. Using telemedicine services, patients can consult a doctor for diagnosis and treatment without having to wait for an appointment. Patients can now easily consult a doctor/physician at the comfort of their home.

The demand from a new generation of tech-savvy population has pushed for the rapid adoption of telemedicine services and further fueled by telemedicine benefits including convenience, cost saving and intelligent features it brings.

How does telemedicine work? 

While leveraging telemedicine benefits can be a simple process for some providers, for some it could be a complex one. For a solo practitioner and clinic, only a basic HIPAA compliant video conference software to start delivering telemedicine benefits and consultation is required. For telemedicine services providers a more complete virtual clinic solution needs to consider their existing workflow and incorporate the telemedicine services software solution into their practice. It is essential that these software have a waiting room, EHR and payment function. For large medical group or hospitals, they usually require custom telemedicine services to fit into their existing workflow to lessen the disruption of adopting telemedicine as its harder to train a large number of physicians to change their behavior. Moreover, it’s advisable for telemedicine providers to do due diligence on the regulations for telemedicine services, and reimbursement policy for their country or state. Organizations will have to change operationally and have knowledge of the regulations, legalities, and technological aspects of implementing telemedicine services. Many organizations consider partnering with telemedicine providers to make the transition and implementation easier.

Traditionally, telemedicine services use an online account or a toll-free phone number. Patients can request a visit by submitting some basic information on their condition, and then the physician either accepts or declines the visit or schedules it for the future.

A 4-step guide before starting telemedicine services 

Understand the Basics

Before setting up telemedicine services, an organization’s administration and providers should know how laws differ when using telemedicine services. It is also advisable to consult with an expert to determine what equipment they need and have a basic understanding of why they want to offer this in the first place.

Deciding on Telemedicine Solutions

After laying out the basics, an organization should decide what type of telemedicine services to offer. The organization should undertake measures to respond to their current pain points, such as overcrowded waiting rooms or difficulty reaching patients in rural areas.

The Equipment

organizations should ensure they have compatible webcams, speakers, microphones, and more importantly a reliable internet connection. Telemedicine technologies should be identified within the practice to help others get acclimated and resolve tech issues.

Understand Regulations and Reimbursements

Policies and regulations in the telemedicine services can often prove to be confusing for providers, vendors, and payers. Organizations who are considering implementing telemedicine services should be familiar with the laws in their state. For instance, some states require informed consent from patients, while others do not. Also, some payers may not pay the same rate for telemedicine services as in the case of in-person services. Organizations should clearly identify how providers will be paid, as some companies seek grant funding.

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IR40

4 Effective Ways Healthcare Data Analytics is Reducing Healthcare Costs

Despite its promising growth prospects, healthcare service providers are hard pressed to find solutions to multiple complex issues including regulatory and policy changes, medicinal and technological advancements, rising costs, staff, and trained employees, maintain efficient operations and services, and support other healthcare initiatives. With increasing concerns for living healthier, longer, and lead more active lifestyles, healthcare costs have increased. Research reveals that the spending and healthcare costs often rise at rates more than the rate of inflation and is expected to increase even more in the years to come.

With the rising healthcare costs, co-pays and deductibles have become expensive and employers are burdened to take a bigger cut of their employees’ wages to pay for insurance premiums. This surge in healthcare costs will soon become a big barrier to the growth of the overall healthcare industry. Therefore, leaders must find alternative methods to combat rising healthcare costs. They must do the appropriate research to find funding, grants, and contributors to help them conduct research, set up programs and implement processes at the pace of change.

At Quantzig, we understand the impact that costs have on your business plans. And to help companies excel in an ever-competitive marketspace, our team of experts has highlighted four effective ways in which healthcare data analytics can reduce the Contact USrising costs of care.

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Is Real World Evidence A ‘Life-Saver’ For the Healthcare Industry?

The advent of new, life-changing drug necessitates the need to ensure that the right treatments are being provided to the right patients. Real world evidence (RWE) is a great tool to ensure better patient outcomes and drug efficacy. Information collected outside of a clinical trial such as electronic medical records, medical charts or medical claims data, with patient identity markers removed to maintain patient privacy are useful data sources for real world evidence. Furthermore, this data is known to complement the knowledge gained from traditional clinical trials.

Real world evidence in patient care

Controlling costs and ensuring enhanced quality are two critical imperatives driving healthcare transformation. This can be achieved to a large extent with the help of real world evidence. Clinical trials are crucial to examine the safety, ethics, and efficacy of new therapies. Best practice clinical interventions, which can offer an improved means to prevent, screen for, diagnose or treat a disease are also equally important. Real world evidence represents a paradigm shift in how research is conducted by using data from actual events in heterogeneous populations that occur in clinical practice. It can include pragmatic trials in diverse clinical practice settings with everyday patients and clinicians. Real world evidence is derived from examining several factors when testing Request Proposalhow FDA-approved interventions affect targeted patient populations, particularly those with unmet medical needs, to create best practices for existing as well as new treatments.

How does RWE benefit providers?

Most providers have been engaged in some sort of clinical trial. These engagements look narrowly at the effect of a therapy, usually a drug, with a homogeneous population that is being treated in a controlled setting with specialized personnel. But in reality, the front-line clinicians are the ones truly driving these therapies forward across a diverse range of healthcare settings. Real world evidence research is focused on short- and long-term outcomes, cost implications, patient-reported outcomes, and other data. It helps hospitals and health systems enhance clinical practices and drive greater value around targeted medical approaches – examining the efficiency and the quality of these interventions and how they impact short- and long-term patient outcomes. 

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How is RWE changing the healthcare industry?

Real world evidence is a science and data-driven best practice that provides a meaningful assessment of costs when delivering new and innovative treatments. Based on patient outcomes, real world evidence can also lay the foundation in establishing effective risk-sharing agreements between manufacturers, payers, and providers. The advent of electronic health records has proved to be a favorable step for real world evidence. Mergers and acquisitions are garnering greater importance in the healthcare landscape. Providers and life sciences companies in the healthcare industry should seek out partners with robust clinical and financial healthcare databases to provide easier and quicker access to insights derived from real world evidence.


Gain more insights into Quantzig’ s real world evidence solution for the healthcare industry

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Pharmacovigilance and Its Importance in Healthcare

What is pharmacovigilance? 

Pharmacovigilance also known as drug safety, refers to the detection, assessment, understanding, and prevention of adverse effects or any other possible drug-related problem. Here ‘adverse effects’ refer to any untoward medical occurrence which happens to either a patient or a subject in a clinical investigation when a pharmaceutical product has been given to them. This includes any signs which are unfavorable and unexpected for the patient or subject, including any abnormal laboratory findings. Information received via pharmacovigilance agreements (PVAs) from patients and healthcare providers, as well as other sources such as the medical literature, plays a critical role in providing the necessary information for undertaking pharmacovigilance. In fact, in order to market or to test a pharmaceutical product, most countries have mandated the requirement for adverse event data received by the license holder (usually a pharmaceutical company). This data is required to be submitted to the local drug regulatory authority. Let’s examine some of the key importance of pharmacovigilance in healthcare:

Importance of pharmacovigilance 

Clinical trial regulation

One of the importance of pharmacovigilance is that it facilitates clinical trial regulation. The recent years have witnessed a skyrocketing increase in clinical trials in the United States alone. Furthermore, the increase in the complexity of clinical trials is leaving regulators with several challenges to face. Clinical trials are mostly contracted to clinical research organizations and patient recruitment agencies. These agencies act as intermediaries between the sponsors of the study, the investigators, and the patients. The importance of pharmacovigilance can also be established from the fact that it enables improved and more rapid changes in labeling or even withdrawal of a new drug from the market. Furthermore, a standardized reporting system for safety concerns arising during clinical trials can be established. Pharmacovigilance also plays a vital role in ensuring patient safety and strict compliance with prescribed regulatory requirements that would substantially improve standards of clinical trials.

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Monitoring post-marketing safety

A part of the process of evaluating drug safety should ideally take place in the post-marketing phase. Safety monitoring is not only limited to the cases of new drugs or significant therapeutic advances. The importance of pharmacovigilance is notable in the introduction of generic medicines, and in the review of the safety profile of older medicines already available, where new safety issues may have arisen. Spontaneous reporting is a cornerstone of pharmacovigilance in the regulatory environment is indispensable for signal detection. The need for more active surveillance has also become increasingly clear in recent years. Without reliable and autheRequest Proposalntic information on utilization and the extent of consumption, spontaneous reports do not make it possible to determine the frequency of an ADR related to a product or its safety.

Promotional activities

There has been an increased spending in direct to consumer advertising by pharmaceutical manufacturers. This results in national regulations on advertising to become ineffective. Several websites now enable buying and selling of prescription drugs such as benzodiazepines without controls. These developments in communication have a significant impact on the safety of medicine. Such issues suggest the need for more thorough monitoring of drug safety and scrutiny of advertising. This highlights the importance of pharmacovigilance.


Know more about the importance of pharmacovigilance and how Quantzig’ s solutions can help companies in the pharma industry

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Answers to the questions

The Way Ahead: What to Expect in the US Healthcare Industry

US healthcare industry overview

Every presidential election and change of guards come with several changes in policies in the US healthcare industry. For instance, in 2008 when President Obama was sworn into office, it led to the establishment of the Affordable Care Act (ACA), also popularly known as Obamacare. At that time, the cost curve was swinging uncontrollably in the US healthcare industry, and to bend this the lawmakers passed a highly comprehensive legislative change in the US healthcare industry which helped expand the insurance coverage for 20 million Americans through Medicaid expansion. It also resulted in the establishment of health information exchanges. Since then, the opportunities in the US healthcare industry has flourished and changed course toward a new model of care delivery and payment. There were several major changes in the US healthcare trends since President Trump came into power. Under the Obama administration, consumers could buy short-term policies—that did not have to comply with Affordable Care Act standards. This was done as a stopgap measure until they found longer lasting insurance. In August 2018, the Trump Administration issued a final rule, allowing agencies to expand the availability of short-term health insurance policies beyond the previously three-month limit to three years. The Trump administration expects these plans to provide lesser-expensive health care at a much lower price.

Currently, The US healthcare industry is seeing a record-breaking level of acquisition activity as providers race to capitalize on innovation and deliver a better consumer experience.  But rapid consolidation raises serious concerns around the IT systems that form the backbone of patient care. As traditional healthcare systems continue to merge in order to compete, a major concern for providers is that they might become vulnerable to competition from digital health companies who can deliver care and treatment directly to patients in a more efficient manner. Furthermore, tech giants including Apple, Amazon, and Google are gradually making entry into the US healthcare industry, traditContact USional healthcare systems, and hospitals face increasing pressure in order to remain competitive.

US healthcare industry trends

2018 has been a landmark year as far as the US healthcare industry is concerned. Several new innovations in IT, medical devices, data analytics and much more have made their mark in the past decade. Furthermore, with quality, outcomes, and value being the new buzzwords for the healthcare industry in the 21st century, the stakeholders in the US and around the globe are on the hunt for innovative and cost-effective ways to deliver patient-centered, technology-enabled healthcare solutions. We have identified some of the key US healthcare industry trends to watch out for in the years to come:

Changing scenario of rural healthcare

Several patients in the United States receive care from smaller rural institutions. However, with government programs in constant danger of financial cost-saving spending cuts, rural US healthcare industry providers are in crisis. It is believed that currently one in three rural hospitals are in financial risk. Furthermore, the decreasing number of physicians, the growth of high-deductible health plans (HDHPs), a lack of choices of private exchanges, and the opioid epidemic are adding to the problems of rural healthcare industry players. However, rural healthcare industry providers will continue to turn to leverage new technology as they experience population loss. Technologies, such as teleRequest Solution Demo_QZhealth and telemedicine, and consumer health wearables or smartphones, can enable rural-based care systems to consolidate specialty care services and referrals as a means to survive and grow in the market.

Rise of consumerism in healthcare

As the healthcare costs continue to rise, consumers have become more engaged in making certain they are getting the best value for their money. One of the key US healthcare industry trends to look forward to is that consumers in the United States now expect transparency and choice in their healthcare experience. So, the success of the US healthcare industry providers will now depend on their ability to meet consumers’ needs and expectations. These providers will be the primary source of education, information, and the tools that patients need to take ownership of their health. Millennials are expected to influence the future of healthcare in new ways. This is due to their increased use of online resources and telehealth continues to grow.

Artificial intelligence in healthcare

US healthcare providers are increasingly considering the feasibility of adopting advanced innovations such as artificial intelligence into their day to day operations. This technology would prove to be highly useful in reducing bureaucracy and administrative duties that can take time away from personalized care. Top healthcare providers in the United States feel that AI would make administrative tasks a lot quicker, such as screening drug candidates, streamlining finance processes, and adverse event reporting.

Real world data and policy changes

Changes at the FDA will prompt medical and pharma companies in the United States to adjust their approach to collecting and using real-world data that is gathered outside of randomized controlled trials. This could potentially save the US healthcare industry millions of dollars. As the 21stCentury Cures Act takes effect, the FDA will be required to take into account the key uses of real-world evidence for drugs and medical devices, including incorporating this data to support new indications.Request Proposal

Change in workforce

In the United States, employment is undergoing rapid changes. In recent times, it has been observed that employment in occupations that require more education and training are on the rise. So, many workers are realizing that retraining and upgrading their skills are lifetime commitments. Furthermore, the workplace now encompasses multiple generations representing a wide variety of skills, life experiences, technical training, and educational qualifications. Such a diverse workforce environment could pose several challenges for companies in the US healthcare industry Effective communication is the most difficult aspect of managing a workplace comprising different generations of employees remains.


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