Life sciences companies increasingly are seeking new models to connect expanding sets of disparate, non-identified patient-level data streams to better develop and commercialize next-generation medicines. The need for practical, evidence-based approaches is especially acute at a time when scientific advances, the growing need for new medicines, and constrained budgets for healthcare and other social services are colliding.
According to a new QuintilesIMS Institute report, connected insights derived from big data enhance scientific and therapeutic expertise. These insights also drive informed decisions along the entire continuum of care—from pipeline to portfolio to population health. As health systems accelerate the transition to value-based use and payment approaches, mastering the collection and interpretation of data is essential to advancing medicine and medical technologies.
“Drug costs and spending are being scrutinized more intensely worldwide. At the same time, the challenges associated with developing new medicines remain extraordinarily high,” said Murray Aitken, senior vice president and executive director of the QuintilesIMS Institute. “This confluence of pressures will lead to a crisis in biomedical innovation unless the industry applies a more strategic approach—one that links actionable insights earlier in clinical development and commercialization.”
The report—Connecting Insights: Bringing Better Outcomes from Pipeline to Patient Using Data and Analytics—highlights nine evidence-based approaches:
The report cites four critical hurdles to realizing the full power of connected insights: maintaining data privacy; incorporating dynamic approaches to the application of data; ensuring transparency when multiple data sources and analytics are applied; and collaborating with diverse constituents who may have conflicting interests.
Said Aitken: “Properly harnessed, data analytics can drive remarkable progress in allocating healthcare resources, developing and commercializing new medicines, as well as improving population outcomes.”
The full version of the report, including a detailed description of the methodology, is available at www.quintilesims.com. The study was produced independently as a public service, without industry or government funding.
About the QuintilesIMS Institute
The QuintilesIMS Institute provides key policy setters and decision makers in the global health sector with unique and transformational insights into healthcare dynamics derived from granular analysis of information. It is a research-driven entity with a worldwide reach that collaborates with external healthcare experts from across academia and the public and private sectors to objectively apply the company’s proprietary global information and analytical assets. More information about the QuintilesIMS Institute can be found at: http://www.imshealth.com/en/thought-leadership/quintilesims-institute.
QuintilesIMS (NYSE:Q) is a leading integrated information and technology-enabled healthcare service provider worldwide, dedicated to helping its clients improve their clinical, scientific and commercial results. Formed through the merger of Quintiles and IMS Health, QuintilesIMS’s approximately 50,000 employees conduct operations in more than 100 countries. Companies seeking to improve real-world patient outcomes and enhanced clinical trial outsourcing through treatment innovations, care provision and access can leverage QuintilesIMS’s broad range of healthcare information, technology and service solutions to drive new insights and approaches. QuintilesIMS provides solutions that span clinical to commercial bringing clients a unique opportunity to realize the full potential of innovations and advance healthcare outcomes.
As a global leader in protecting individual patient privacy,
QuintilesIMS uses healthcare data to deliver critical, real-world
disease and treatment insights. Through a wide variety of
privacy-enhancing technologies and safeguards, QuintilesIMS protects
individual privacy while managing information to drive healthcare
forward. These insights and execution capabilities help biotech, medical
device, and pharmaceutical companies, medical researchers, government
agencies, payers and other healthcare stakeholders in the development
and approval of new therapies, identify unmet treatment needs and
understand the safety, effectiveness and value of pharmaceutical
products in improving overall health outcomes. To learn more, visit www.quintilesims.com/.
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Last updated on: 27/10/2016
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