Real World Data Capabilities: Benchmarking pharma companies
Is Real World Data giving your market access the power charge it needs?
Real World Data (RWD) and Real World Evidence (RWE) are gaining traction across the industry. The front runners are already exploring new ways to collect and use data within their market access strategies and, for some, this is proving an effective way to ‘tip the balance’ from a no to a yes with target agencies. How well is pharma leveraging the data advantage? And how should companies benchmark their own RWD activities against the best of the rest?
Seven senior pharmaceutical company decision-makers currently working in Real World Data and Real World Evidence were all interviewed in depth. RWD Benchmarking Capabilities details their perspectives on the use of RWD and RWE for market access now and in the future, including opinions on who is leading the field and why.
Overview of the definitions and types of Real World Data, who is generating it, how it is being used successfully and the challenges being overcome.
How Real World Data and Real World Evidence can improve performance within patient-centric strategies and outcomes-based contracts.
The key issues regarding the effective use of Real World Data for market access including core requirements and limitations.
Assessment of market activity including company profiles of the current Real World Data ‘movers and shakers’ as well as case studies and who to watch.
New ideas on how to benchmark Real World Data activities, effective planning and analysis, and future trends to prepare for.
Assess how your current data strategy stacks up: How do your Real World Data activities compare to other pharmaceutical companies? What do the data leaders have in common? How can you benchmark your market access data strategy?
Understand more about the opportunities and threats: Just how important is social media? Which data sources are others already mining? What concerns exist regarding data quality, cost, and patient protection?
Invigorate your strategy with new ideas and approaches: Avoid being overwhelmed by the enormity of the data task and gain greater clarity on the specific strategies and actions that have the most impact.
Shape your long-term plans and data investments: Gain the insight and evidence needed to build a business plan to evolve and enhance your Real World Data strategy.
Why is Real World Data such a pressing issue today?
At the heart of the Real World Data revolution is the issue of control. Pharma companies used to be in the driving seat when it came to the data produced from trials and studies of their drugs. But now the floodgates have opened and everyone from payers to patients to your competitors can all see and comment on real world drug performance. And they are, in droves. This new data-rich environment presents significant opportunities but also threats. The key to success is finding a strategy that is sustainable, meets commercial objectives, and produces insight that is ultimately trusted enough to influence opinion.
Key Questions Answered By This Report
Can RWD and RWE deliver results as stand-alone strategies or should they be coupled with price changes too?
What practical steps can be taken to increase acceptance of RWD and RWE amongst HTA agencies and payers?
How intrinsically linked is RWD and patient-centricity? Can it also be used to deliver against other core pharma business goals and if so, which ones?
With seemingly limitless data sources available, what can be done to ensure disparate data are linked and subsequent analysis is robust, relevant and result-oriented?
How will Real World Data evolve? Is collaboration the latest fad or should pharma be actively seeking new relationships? Which companies are the ones to watch?
Each of our experts have detailed understanding of RWD and RWE and how it is being used currently. To enable them to express candid views, our experts have chosen to remain anonymous.
A Vice President with expertise in HEOR at a top 10 global pharmaceutical company.
A global market access and health economics executive previously employed at a top 30 global pharmaceutical company.
A Real Life Evidence Manager at a top 20 global pharmaceutical company.
A Vice President and Worldwide Head of Real World Evidence at a top 10 global pharmaceutical company.
A Senior Director for Health Economics and Outcomes Research (HEOR) and Real World Evidence at a top 20 global pharmaceutical company.
A Senior Director at a top 20 global pharmaceutical company.
An Associate Director working for Global Health Economics and Outcomes Research (HEOR) at a top 10 global pharmaceutical company.
3 Key Quotes
“This is really a paradigm shift. In the past, global pharmaceutical companies could define which data is generated in global trials and then follow up post-market. We had a lot of control over which kinds of studies are running and what kind of data is being generated. In the new world, using real world data, this is changing. The majority of the data is not produced by pharma companies, it’s from healthcare systems, patients using devices, patients discussing products on social media, payers collecting data to process their transactions. This is the new world.”
“Secondary data sources like registries, claims databases, social media, apps and devices and electronic medical records are the data sources I would consider exciting and providing new opportunities.”
“The patient journey is the one of the most interesting areas for RWD. [It] will allow us to be even more specific to what patients need in the future…for me, this is one of the most exciting areas.”
Who Would Benefit from This Report?
Market access teams looking for new ways to boost the effectiveness of their RWD activity
Patient liaison specialists investigating new sources of data and patient interaction methods
Senior management planning for ongoing RWD investment, technology and resources
Health economics and outcomes research (HEOR) professionals looking for new ways to boost coverage strategies
Brand marketers concerned about competitor activity and the impact of data on market dynamics
Payer liaison departments under increasing pressure to produce Real World Evidence
Research objectives and methodology
Defining Real World Data and Real World Evidence
Defining Real World Data
Types of Real World Data
Diversity in Real World Data
Growth in Real World Data availability
Enablers for Real World Data
Challenges for Real World Data
Real World Data and Real World Evidence being generated by those outside of industry
Real World Data and Real World Evidence for Market Access
Intensifying interest in Real World Data and Real World Evidence
Desire for Real World Value
Real World Data can help overcome limitations in the evidence base
Real World Data as the ’new normal’ for bringing a new product to market
Real World Data and Real World Evidence are core requirements for outcomes-based contracts
Real World Data and Real World Evidence is useful across the business
Real World Data and Real World Evidence is relevant for all external stakeholders
Companies that are leading on Real World Data
Variability across companies
The companies doing the most real world studies
2016 winner of the first Prix Galien Award for Real World Evidence
Company profiles on Real World Data and Real World Evidence
The companies with the most real world studies
Other companies to watch
Commonalities across companies
What can companies benchmark themselves on?
Insights from within companies
Planning: start early taking into account context
Data and analysis: no single approach dominates
Capability: More to do
Plans for the future: Increasing investment in Real World Data and Real World Evidence
Real World Data and collaboration
The need to work together
The future for RWD
Real World Data and Real World Evidence will only get more important in the future
Industry won’t be the only influencers of Real World Data and Real World Evidence
Real World Data and Real World Evidence will become increasingly patient-centric
Real World Data and Real World Evidence will underpin greater use of outcomes—based contracting
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