RWE Data Analytics Solutions
The Situation Today
Pharmaceutical organizations are challenged to develop new drugs that meet patient needs, and deliver demonstrable value in optimizing the drug development process. Demands are also increasing in areas like portfolio innovation, emerging global markets, personalized medicine, continued profitability, and in proving real-world effectiveness leveraging effective real-time healthcare analytics. They must respond with complete and accurate evidence that allow decisions to be made around the value of a product, on its safer use, and better patient care.
A growing trend in the industry is that products must demonstrate real-world effectiveness or comparative effectiveness through:
- Assessment of drug benefits, relative benefits and costs
- Appraisal of evidence to inform on coverage and pricing considerations
The 2009 American Recovery and Reinvestment Act earmarked $1.1 billion for comparative effectiveness research (CER).This commitment to CER suggests that manufacturers may eventually be required to provide evidence for their products compared to a wider array of competitors. Specific business points that are addressed are Product Recalls, Greater Scrutiny by FDA, lack of efficacy and need for personalized medicine that has yielded low productivity in R&D investments.
How HCL Can Help
HCL provides best-in-class services to deliver quantifiable business benefits in:
- Consulting: Business Process Consulting to identify areas of improvement
- Application Development & Management: Creating a platform for capturing, organizing (slicing/dicing) and reporting data; Integration with several systems to enable an effective healthcare data analytics and management
- BPO Business Services: Analytics Factory could have a portion of BPO (to take requests from customers) and KPO process (high-end analysts for Reports) to provide a real time healthcare analytics and customized service offerings
- Infrastructure Management: Hosting the analytical platform - requires high speed computing - including multi-dimensional & relational online analytical processing
- System Integration: SI services for third party product integration- partner and third party products
What You Can Expect
HCL’s Real-World Evidence (RWE) solution encompasses CER (Payer data) contrasted with Biostatistical Analysis of Adaptive Trial Data (as against only randomized trials), thus yielding Translational Medicine benefits from socio economic studies and statistical analysis. This is the first-ever solution which holistically encompasses the above concepts and provides a Real-World Prediction Market Engine to provide further efficacy.
HCL aims to provide these business benefits to customers:
- Reduce the sales cycle time by 12%
- Increase the efficacy of chronic disease alleviating generics by 10%
- Increase ROCE for Pharma companies by 7%
For more information, write to us at: firstname.lastname@example.org