Understanding Data's Value to Specialty Products
With the focus on value-based reimbursements, especially for specialty products, life sciences companies need to rely heavily on real-world data to show health outcomes and demonstrate the value of their brands. That kind of data will not come solely from claims or sales. And with patients under specialty care, the final outcomes may not be positive, making the effectiveness of treatment more important. Products will be judged on their value relative to price – will your product be able to extend expected survival by months or years, rather than weeks?
Needed for the Life Science teams:
Health outcomes and the related value will also determine market access. Payers are looking for demonstrated improvements in care and key concomitant conditions to assess value of products and conduct a risk benefit analysis. Will your product offer marginal benefits, with no evidence that they improve survival or the patient’s quality of life? Commercialization teams with access to this data will be able to ensure their product will make it to a specialty products formulary.
Brand teams need more comprehensive clinical data sets to better educate and inform providers about the value of their products. Providers and practice managers are looking for the most effective treatment protocols and an ease of access to information, as they will also have to show value for reimbursements. It’s that understanding of how and when products are prescribed, the use of options like patient assistance programs and knowledge of regional approaches to therapies, which will allow brand teams to create more targeted multi-channel marketing strategies.
With the focus on becoming patient-centric organizations, life sciences companies also need to understand patient satisfaction. While a patient could understand that a final outcome may not be a positive one, most are looking for an increased quality of life, better side effect management and trust in that their physician is using the best possible treatment option.
How do you find that data?
IntrinsiQ Specialty Solutions has been collecting longitudinal patient data through a variety of data sources for more than a decade. Those sources can be commercial software solutions, like an electronic medical record, or a practice management system, or even from value-added solutions provided to AmerisourceBergen customers. Through the process, IntrinsiQ abstracts the data, linking the same patient across sources, and who their providers are, at that time of service or care.
We leverage key leading edge data aggregation capabilities to de-identify and standardize it to get the quality data and quality for commonly used disease and treatment attributes. Our extensive experience has amassed over 250,000 business rules that are electronically implemented for consistency across our large scale integrated data assets. This results in more comprehensive and up-to-date than those using survey methodologies.
Specifically for oncology, as an example, IntrinsiQ leverages this information to provide life sciences companies with nationally representative projections as to the number of patients that are being treated with each of the individual drugs and/or regimens that are applicable for the over 280 cancer conditions that exist today.
Analytics can also be tailored to meet the life sciences company’s individual needs. If health outcomes are needed, a longitudinal study can be conducted to assess survival rates and potential side effects with specific treatment protocols.
It’s this type of intelligence which will make a difference in maximizing the product life cycle.
Posted by Intrinsiq Admin | 6/21/2017 12:13:18 PM