Real world data (RWD)—it’s a never-ending wave of information that is, increasingly, transforming healthcare into ‘reality medicine’ that responds to the real world use of medicines rather than that prescribed by randomised controlled trials (RCTs).
And because it’s so abundant, RWD is being mined everywhere, from the local country level to the ivory towers of academia. The result? Competitors, regulators and payers often know more about medicine usage than the companies that created them. In fact, pharma-generated RWD has influenced more than 25 percent of observed decisions relating to pricing and positioning.
How should pharma respond? In Strategies for Working with Real World Data, FirstWord makes a strong case for pharma-payer collaborations, as seen in the compelling work done between Merck and the Regenstrief Institute. Based on expert interviews, wide-ranging research and case studies, this report examines how the use of RWD is transforming the industry. It reveals what works—what doesn’t—and what pharma needs to do to stay ahead of the game.
Key Report Features of Strategies for Working with Real World Data include:
- Detailed overview of the dynamics driving RWD uptake by payers, providers and pharma
- Analysis of the application of RWD to decision making in 10 countries Case studies of pharma-payer collaborations
- Interview with Dr. Jon Duke of the Regenstreif Institute about a five-year RWD collaboration with Merck
The supply and use of RWD is rapidly expanding. The pharmaceutical industry needs to grasp what is happening in ‘reality healthcare’ and with the competition. Through Strategies for Working with Real World Data, you will:
- Understand the strengths and weaknesses of various sources of RWD
- Learn about new methods of including patient points of view through social media and Quantified Self Movement
- Understand what is driving the demand for RWD and how it is manifesting
- Gain insight into how the ten largest markets are applying RWD to their decision-making processes
Strategies for Working with Real World Data answers key questions:
- Why should the pharmaceutical industry take up RWD?
- How can RWD be mined to optimise decision-making strategies?
- Where does RWD exist and who gathers it?
- How can companies organise their RWD efforts?
- What is the future of RWD in ‘reality healthcare’?
The pharmaceutical industry must keep abreast of how fast the supply and demand of RWD is occurring and be ready to apply key strategies to manage it. In this report, you will discover:
- The importance of collaborations between payers, pharma and academia
- The trends that are creating new ways of compiling patient-reported outcomes
- The means by which other companies are effectively using RWD