Survey, Whitepaper from PrognosⓇ Health and Reuters Events™ Uncovers RWD Trends in the Pharmaceutical Industry
New research identifies top RWD challenges, priorities and opportunities.
NEW YORK–(BUSINESS WIRE)–#RWDmarketplace–Prognos Health recently partnered with ReutersEvents to survey brand, commercial strategy, and data science leaders in the pharmaceutical industry to understand current challenges, priorities, and opportunities when it comes to leveraging real-world data (RWD) for drug therapy commercialization. The results are published in a new whitepaper titled Real World Data in Life Sciences: Faster Launch, Increased Adoption, Higher Revenue, and a Playbook for Commercial Success. Feedback revealed an RWD status quo fraught with challenges and a paradigm ripe for disruption.
Key findings from the study include:
- Current RWD budgets are primarily allocated to large data aggregators (40%) or direct from source purchases (24%)
- 37% of respondents ranked data harmonization as the top challenge when purchasing RWD from multiple sources. Data linkability was the next biggest challenge, earning 27% of the vote
- 68% of respondents believe the way pharmaceutical companies purchase RWD is ripe for disruption
- And 40% ranked speed to insight via pre-integrated and linkable data as the top improvement they hope to gain in how they manage RWD
In addition to presenting the tabulated results from the survey, the whitepaper incorporates analysis from brand and data leaders from some of the top pharmaceutical companies in the world including Pfizer, Novartis, and Takeda. These crucial insights were captured via in-depth, one-to-one interviews between these executives and Reuters Events’ editorial staff.
“The information collected through this industry survey shows a pharmaceutical industry hungry for better ways to collect, combine, and apply real-world data to support product launch and commercialization efforts,” says Theresa Greco, Chief Commercial Officer of Prognos Health. “The emergence of digital, de-identified patient data platforms, such as Prognos Marketplace, address this demand.”
“The Prognos Marketplace provides life science companies with only the data they need by allowing them to query multiple harmonized sources and assess data value prior to purchase,” according to Sundeep Bhan, Co-founder and CEO of Prognos Health. “This analytics-ready data delivers accelerated insights that enable these companies to have a greater impact on patient health and outcomes.”
You can download this insightful new whitepaper from Reuters Events and Prognos Health here.
About Prognos Health
Prognos® Health is accelerating the discovery and application of real-world data to improve health through the Prognos Marketplace — the largest collection of integrated medical records on 325 million de-identified U.S. patients. The Marketplace is built on Prognos Factor®, a specialized healthcare analytics platform that leverages a patent-pending database management system enabling no-code exploration of hundreds of billions of medical records at interactive speeds. The Marketplace allows healthcare clients to assess the value of data before purchase and buy only the data needed. Embedded standardization and linkability makes the data analytics-ready, accelerating speed to value. Use cases include targeting specific patient/provider populations, commercial and HEOR process optimization, clinical research studies, and medical underwriting risk assessment. For more information visit prognoshealth.com
About Reuters Events
The pharmaceutical division at Reuters Events strives to make Pharma more open and valued. More open so that the strongest ideas and insights are brought to the fore in a transparent, trustworthy manner. More valued by taking an authentic approach to building products and services that matter to patients.
To do this, Reuters Events provides a hub for senior-level Pharma executives, patient groups and other health stakeholders to exchange ideas and observe shifting trends and practices. We actively respond to the aims and interests of our audience. For more information visit www.reutersevents.com/pharma.