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Life Sciences

Extended Real-World Data: The Life Science Industry’s Number One Asset

The life science industry has historically relied on sanitized clinical trials and commoditized data sources (largely claims) to inform its drug development process—an under-substantiated approach that didn’t reflect how a new drug would affect broader patient populations. In an effort to gain more accurate insight into the patient experience and bring drugs to market more efficiently and safely, the industry is now expanding into extended real-world data (RWD).

To access the needed breadth and depth of patient-centric data, life science companies must partner with a healthcare transformation company that has three key qualities:

  1. A broad and deep data asset.
  2. Extensive provider partnerships.
  3. An outcomes-improvement engine to support the next generation of drug development.

Precision Medicine: Four Trends Make It Possible (Executive Report)

When realized, the promise of precision medicine (to specifically tailor treatment to each individual) stands to transform healthcare for the better by delivering more effective, appropriate care. To date, to achieve precision medicine, health systems have faced financial, data management, and interoperability barriers. Current trends in healthcare, however, will give researchers and clinicians the quality and breadth of health data, biological information, and technical sophistication to overcome the challenges to achieving precision medicine.

Four notable trends in healthcare will bolster to growth of precision medicine in the coming years:

  1. Decision support methods harness the power of the human genome.
  2. Healthcare leverages big data analytics and machine learning.
  3. Reimbursement methods incentivize health systems to keep patients well.
  4. Emerging tools enable more data, more interoperability.