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:
- In what areas are pharma innovatively utilizing big data and AI to influence their clinical and commercial market access strategies?
- To what degree has AI impacted comparative effectiveness/RWE data analytics in respect to pricing and reimbursement decision making?
- How are pharma using multimedia big data to profile, target and engage with KOLs/Rx Influencers, pharmacies and payers?
- In what ways is AI being applied by payers for assessing the potential cost-effectiveness of a drug and to determine its long-term budget impact?
- What are the key AI and big data lessons pharma need to learn to effectively build, communicate and deliver value to key market access influencers and decision makers?
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."
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."
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."
"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."
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.
- An examination of 6 key issues that are driving advances in market access
- 20 targeted questions to pharma and market access experts
- Their responses which provided 35 insights supported by 144 directly quoted comments
Deliverables: Include a PDF report and a PowerPoint slide deck
Big Data and AI in Market Access is delivered as:
- A detailed PDF report including all insights, quotes and intelligence exhibits
- A useful PowerPoint slide deck providing a summary of the report's key findings for presentations and sharing with colleagues
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.
- Christopher M de M Rudolf, Founder & CEO of Volv, an applied data science company, that creates cutting edge new approaches to solving difficult problems in healthcare and life sciences. He has worked in Life-sciences in Europe, the USA and the UK for many years and is passionate about innovation and entrepreneurship and applying it in the healthcare and life sciences industry.
- Sue Beecroft, Joint Managing Director at OPEN VIE, a specialist market access, real world evidence and patient-centred outcomes consultancy which aims to demonstrate and communicate value to drive change.
- Usman Iqbal MD, MPH, MBA, Chief Medical Officer, Julz Pharma with over 15 years of broad based health care experience, including clinical medicine, global medical affairs, end-to-end evidence and value development, health economics and outcomes research with both large and small cap biopharmaceutical companies. He has extensive knowledge of launch planning, pipeline strategy and trial design optimization, integrated medical affairs strategy and execution, phase IV and real world evidence generation, medical communication platforms; ROI driven KOL and MSL engagement, and patient centered outcomes.
- European Expert, Leading Clinical Research Organisation (CRO) with 20 years' experience working in business development and market access initially for a large pharmaceutical company. He has extensive knowledge in strategic planning, market segmentation, developing customer insights, enhancing global marketing and establishing pricing and reimbursement models.
- European Expert, Leading Pharmaceutical Company is a health economist with 20 years' experience working across a range of disciplines in the healthcare sector in operations (NICE submissions), strategy (developing brand value), and on policy (reimbursement).
- European Expert, Leading Pharmaceutical Company is head of HEOR with more than 15 years' experience working across a range of disciplines in the healthcare sector including operations leadership, line management and oversight of communications, policy and access in UK franchises: cancer immunotherapy, haematology, neuroscience, immunology and pipeline products.
- US Expert, Leading Pharmaceutical Company, Global Health Economics and Outcomes Research, with over 15 years' experience in the development and commercialization of generic and specialty medicines.
- US Expert, Medical Director, Leading Clinical Research Organisation (CRO). He is a pharmaceutical professional with over 14 years of clinical research experience, protocol writing, medical monitoring, clinical trial management, EMEA/FDA/DCGI regulatory submissions, medical affairs, medico-marketing and pharmacovigilance. He has 30 plus international indexed publications and multiple books in basic physics to his credit. He is a member of the International League Against Epilepsy, American Association of Neurology and expert guest to multiple organizations across Asia
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:
- Are based on primary research with experts whose knowledge and current experience is proven
- Present clear insights and actionable intelligence
- Include only the latest primary research and findings—we don't recycle content or pad out our reports with secondary source material.