Tag: Real World Evidence

real world evidence

Quantzig’s Real World Evidence Analytics Solutions Helped a German Pharmaceutical Company Reduce Sampling Costs and Increase Sales by 17%

By leveraging Quantzig’s real world evidence analytics solutions we were able to interpret data from patient records, clinical trials, and drug discovery, and treatment outcomes and gained a better understanding of disease progression patterns, resource usage, and treatment pathways.” 

About the Client

The client is a leading pharmaceutical industry player based out of Germany having more than €500 million annual turnover. The company has more than 5 years of patients CDR and claims repository.

The Business Challenge

A leading pharmaceutical manufacturer in Germany, focusing on a broad range of products with a challenging drug-delivery mechanism and delivered mainly through agreements with third parties, wanted to improve the existing market share of their drugs. The client faced stiff competition in the market and needed to improve their reach and marketing strategy to ensure that the physicians prescribe their brand. They did not have a sample allocation strategy to generate incremental sales and higher returns on investment. As such, there was a need to implement a more targeted approach, based on the insights from the physician’s prescription behavior. There was also a need to assess the short-term and long-term impact of marketing and do a root cause analysis to understand the underlying behavior for physicians who were prescribing their brand.

Companies in the pharmaceutical industry can leverage Quantzig’s real world evidence solutions to gain comprehensive insights into treatment pathways, patient adherence, disease progression, drug safety, and patient engagement. Request a free brochure of our analytics solution right away!

Based on the business requirements, the client collaborated with Quantzig  to leverage its expertise in offering real world evidence analytics solutions to help them develop a solution for targeting physicians based on their prescription propensity and optimize the sample allocation strategy.

Solution Offered and Value Delivered

Quantzig’s real world evidence analytics solutions are specifically designed to help healthcare organizations evaluate drug treatment efficacy and cost-effectiveness of therapies to complement clinical trial outcomes using data sources such as claims history, electronic medical records, patient demographics, and social media information. Our real world evidence analytics experts work in collaboration with organizations towards bringing real-world and commercial insights into their clinical development planning process to help them make well-informed and confident business decisions.

Harness the power of real world evidence analytics to enhance clinical research efficiency.

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Real world evidence analytics experts adopted a three-step analytics approach to help the client tackle their core business challenge.

Phase 1

The first phase of the real world evidence analytics solution focused on data acquisition and parsing of diverse data sets to analyze TRx and NRx trends. This helped them gain detailed insights into the market share of the brand as well as that of their competitors’ market share.

Phase 2

In the second phase, real world analytics experts focused on re-allocating the samples based on prescribing patterns and predicted behavior, using Partially Observable Markov Decision Process (POMDP).

Phase 3

In the third phase of this real world evidence analytics engagement, our experts devised customized dashboards to provide real-time updates and insights on brand, representative and physician performance.

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Business Outcome

Quantzig’s real world evidence solutions also helped the client to better understand the impact of sample allocation in different scenarios and identify key reasons for inappropriate sample distribution across states based on data visualizations in real-time. Also, the real world evidence analytics solutions had the following impact:

  • Sales increased by 17%
  • Sampling cost reduced by more than 51%
  • There was 3X improvement in physician satisfaction
  • Sales effectiveness improved based on actionable insights offered on sales growth opportunities

Learn more about how our real world evidence analytics solutions can help you achieve desired business outcomes in the pharmaceutical industry.

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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.

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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.

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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.


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Real World Evidence: Driving Excellence in Pharma Companies

What is real world evidence? 

As the world of healthcare is constantly evolving, medical companies have started looking for new ways to get the best treatments for patients. One way to attain this is with the help of real world evidence (RWE). Real world evidence refers to the clinical data that is derived from multiple databases of healthcare companies. Studying this data helps to gain a better understanding of how they can relate to more traditional clinical endpoints and also identify the long-term benefits of a product. One of the key high points of real world evidence is that it will not only tap increasing volumes of data, but weave together different sources of data, including genomic data, clinical data, and socRequest Solution Demoioeconomic data, to produce a clearer picture of individual patient’s characteristics and improve medicine’s ability to treat individual patient needs.

Key benefits of real world evidence in pharma companies

The use of real world evidence in pharma companies involves the analysis of large data sets to determine the performance of new drugs beyond the scope of clinical trials. Here are some of the key benefits of incorporating real world evidence in pharma:

Outcomes based on larger data samples

 As opposed to the narrower and smaller range of patients who typically participate in traditional clinical trials, real world evidence uses medical data garnered from tens of thousands of patients in real time. Apart from EHRs and medical data, data sources can be as varied as patient forum, social media, and doctors’ notes. This gives a vastly larger and more accurate data sample on which medical professionals can base their conclusions and ascertain the effectiveness and ROI of a medication.

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