Is Real World Data giving your market access the power charge it needs?
Real World Data (RWD) and Real World Evidence (RWE) are gaining traction across the industry. The front runners are already exploring new ways to collect and use data within their market access strategies and, for some, this is proving an effective way to ‘tip the balance’ from a no to a yes with target agencies. How well is pharma leveraging the data advantage? And how should companies benchmark their own RWD activities against the best of the rest?
Seven senior pharmaceutical company decision-makers currently working in Real World Data and Real World Evidence were all interviewed in depth. RWD Benchmarking Capabilities details their perspectives on the use of RWD and RWE for market access now and in the future, including opinions on who is leading the field and why.
At the heart of the Real World Data revolution is the issue of control. Pharma companies used to be in the driving seat when it came to the data produced from trials and studies of their drugs. But now the floodgates have opened and everyone from payers to patients to your competitors can all see and comment on real world drug performance. And they are, in droves. This new data-rich environment presents significant opportunities but also threats. The key to success is finding a strategy that is sustainable, meets commercial objectives, and produces insight that is ultimately trusted enough to influence opinion.
“This is really a paradigm shift. In the past, global pharmaceutical companies could define which data is generated in global trials and then follow up post-market. We had a lot of control over which kinds of studies are running and what kind of data is being generated. In the new world, using real world data, this is changing. The majority of the data is not produced by pharma companies, it’s from healthcare systems, patients using devices, patients discussing products on social media, payers collecting data to process their transactions. This is the new world.”“Secondary data sources like registries, claims databases, social media, apps and devices and electronic medical records are the data sources I would consider exciting and providing new opportunities.”
“The patient journey is the one of the most interesting areas for RWD. [It] will allow us to be even more specific to what patients need in the future…for me, this is one of the most exciting areas.”
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