How is big data+AI technology driving market access strategy and practice?
Juggling the demands of multiple stakeholders for evidence of utility and value, while harnessing the insights from an ever-growing number of diverse data sources, has created a mounting workload for market access teams–and COVID-19 has not helped. To ease the pressure, many companies have implemented artificial intelligence (AI) and machine learning technologies to process big data sets. Outcomes have seen faster analysis of clinical trial data, identification of RWE gaps and the agile generation of evidence to meet HTA and other stakeholder requirements. So, what's next for advanced AI analytics and what key trends should market access planners be following?
To examine in detail this critical area of pharma's business we interviewed pharma and market access experts. In Big Data and AI in Market Access they reveal the applications and strategies that are delivering clinical, operational and commercial wins across the market access spectrum.
Experts explore key questions:
What the experts say
"Social media is something on the radar screen, it's not playing a prominent role with us yet but it's important for people on the medical side and on the outcomes side. A lot of people in HEOR are dabbling in that space because there's a lot of noise so you have to be careful as well. With social media there's a pharmacovigilance component that is very important to pay attention to. A lot of the frameworks for how to engage in social media and the kind of data that you can derive from it and the kind of research questions that you could ask, and how to interpret what you're getting, those standards haven't really been crystallized."
US Expert,
Leading Pharmaceutical Company
"I think because of COVID it is harder to do traditional primary data collections, and the need to utilize secondary data is growing. Pre COVID it was challenging to access some of these data sets, often due to data privacy and GDPR. COVID has demonstrated the value of these data sets and the use of them for research and accessing and analyzing has been somewhat simplified."
Sue Beecroft,
Joint Managing Director, OPEN VIE
"Payers are going to say, "If that's going to save me money, then why don't you just save me money and knock it off the price?" The ability to risk share, particularly where you've got immature data, is useful, and as systems become more sophisticated the ability to capture that data improves as well. I think there is a trust in the data but payers distrust complexity. We're also seeing a battle between the owners of the data, as to who actually owns it and therefore will profit from it. Generally, the data we're using comes from third parties, we don't own it and a lot of the databases are run like that."
European Expert,
Leading CRO
"Patients demographics and prescription habits are very useful and they provide additional insight for HEOR. A lot of it depends on the therapeutic area and which provider you may go to for what kind of insight that you're looking for. Typically for us, we get our insights around patient switching from claims data and EMR data. EMR data provide us with a glimpse into the why we're seeing switching. That's where the unstructured data typically comes in. That's where we start to go into machine learning, natural language processing and be able to better understand why do we see what we see. That's really the key."
US Expert,
Leading Pharmaceutical Company
What to expect
A detailed report exploring how using AI for big data analysis is driving positive change in market access practice and strategy.
Deliverables: Include a PDF report and a PowerPoint slide deck
Big Data and AI in Market Access is delivered as:
Pharma and Tech expert contributors
This report reveals the insights of both technology and pharma experts to provide a 360-degree view of how AI is changing the market access landscape.
Why choose FirstWord ExpertViews?
FirstWord's ExpertViews reports reveal the real-world insights of knowledgeable experts to analyze in detail key commercial and market trends that pharma management need to understand if they are to effectively respond to critical developments. These highly focussed reports:
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