The last few weeks we have been focusing on the benefits of Real World Evidence (RWE).
In these final thoughts, wrapping up our series on RWE, we can’t emphasize the value of created a real world evidence database enough. This series has highlighted the fact that with the cost of pharmaceutical health expenditures mounting, leading biopharmaceutical companies are turning to RWE to show healthcare’s payers the return on investment that medications can provide. Beyond pharmacovigilance, RWE is now being used in innovative ways to supplement the learning from clinical trials and inform decisions about labeling, pricing and market access. As governments, insurance companies and patients continue to seek the optimal value for the dollars spent, the impact of RWE will proliferate. The ‘trend’ that is RWE is one that will stay.
A new R&D model would need to establish protocols for evidence generated from the use of a drug in the real world rather than relying solely, as it does now, on clinical efficacy information generated from randomized controlled trial. A leading industry report estimates that the application of RWE to the pharmaceutical R&D process could reduce the development cycle for a new drug by 5 years and the required investment per product by as much as 60 percent.
While these opportunities still lie in the future, organizations that want to position themselves to maximum advantage cannot get there by continuing to take ad hoc approaches with their data. Organizational readiness can only be reached by building a robust RWE platform; one that automates de-identification using a robust, risk-based approach to de-identification that delivers high-quality, granular data in an ongoing way. With anonymous patient data being incorporated into a RWE work flow, privacy and compliance can be ensured. Organizations can then rest easier and focus on the real task at hand – making the data work for them.
Next Steps
To learn more about the role of de-identification and RWE, don’t miss the webinar with IMS Brogan, Experience Building a RWE Database and accompanying case study.
Previous entries in this blog series:
- The Rising Demand for RWE
- The Limitations on Learning from Clinical Trials
- Using RWE Across the Product Lifecycle
- Building a De-Identification Pipeline to Support RWE
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