Future of the US Healthcare Industry
2018 has been a landmark year as far as the US healthcare industry is concerned and will continue to boom on the back of emerging market demand. Several new innovations in IT, medical devices, data analytics, and more have made their mark in the past decade in the US healthcare industry. Furthermore, with quality, outcomes, and value being the new buzzwords for the US healthcare industry, 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.
While the US healthcare industry is expected to witness promising growth across the globe with growing concerns pertaining to healthcare treatments, certain factors such as increasing revenue pressure, consistently deteriorating margins, demand for the latest equipment and technology, and limited financial resources have put the US healthcare industry companies in a difficult and challenging position.
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Importance of Real World Evidence in the US Healthcare Industry
As the US healthcare industry is constantly evolving, medical companies have started looking for new ways to get the best treatments for patients. One way to accomplish this is with the help of real world evidence. Real world evidence applies to the clinical data that is derived from multiple databases of healthcare companies. Analyzing this data helps gain a better understanding of how they can relate to more traditional clinical endpoints and also distinguish the long-term benefits of a product. One of the key benefits 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 socioeconomic data, to produce a clearer picture of an individual patient’s characteristics and advance medicine’s ability to treat individual patient needs.
About the Client
The client is a leading US healthcare company.
The client, a leading US healthcare industry provider, approached our team of experts to help them embrace new technologies, strategies, and partnerships to realize opportunities to optimize and demonstrate value through the application of real world evidence. The client also wanted to gain detailed insights into ways to offer personalized health care services and improve the health outcomes of its patients. Furthermore, with the help of real world evidence analytics, the client wanted to improve future business growth and create a much broader dataset by incorporating real world evidence data.
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The real world evidence solution offered by the experts at Quantzig helped the US healthcare industry company to improve their healthcare services and achieve better health outcomes. It also helped them in adopting new capabilities, industry trends, and strategies to support collaborations and partnerships within the healthcare industry companies. Real world evidence combined with big data and advanced analytics technologies also helped the client in better understanding of treatments and diseases, recognized risk issues earlier, and better directed the design of new products. Moreover, Quantzig’s real world evidence analytics further helped the client to gain comprehensive insights into the treatment pathways and outcomes. It also improved patient care and satisfaction levels of the end users.