With increasing pressure on pricing and the focus on health outcomes and value-based care, all stakeholders in the healthcare ecosystem—payers, health technology assessment (HTA) bodies, providers, accountable care organizations (ACOs), and even patients—will be expecting more data and evidence on real-world effectiveness of a drug. Today, real-world data has three key attributes: Velocity, variety, and volume. It is important for pharmaceutical companies to evaluate and look at different types of datasets to get a 360° view of effectiveness of their innovation and demonstrate not just value, but incremental value as compared to standard of care.
Increased use of HEOR data can be expected in future decision-making processes. Additionally, as we move toward more personalized medicine, real-world data and analytics will play an important role in positioning drugs for the right patients at the right time.
Important Datasets to Consider
Pharmaceutical companies have typically looked at claims or financial transactional data for health outcomes research, but as we move toward value-based care, it will be important to gain a deep understanding of patient history—and that requires considering longitudinal clinical data that is captured in electronic health records. More than variety, it is important to “stich” these different types of datasets and break data silos.
Another important dataset will be detailed lab data as we move toward newer drugs that are very specific to a particular patient population. A perfect example is the upcoming biologics for asthma treatment. Genomic data is another dataset that will be become even more important for personalized medicine and specifically for oncology treatments.
As patients become key decision makers for their health, pharmaceutical companies need to also embark on a journey to analyze data coming from social media to gain insights into patient experience. There are big data aggregators and analytics companies that should be considered for health outcomes work.
Implement HEOR in All Phases of Drug Development
HEOR should be considered as one of the core strategic pillars of any pharmaceutical company, and companies should build an enterprise real-world strategy early on during the drug development cycle. Real-world research can be used for physician engagement and marketing practices by influencer mapping, geo-mapping to find eligible patients, and conducting targeting educational programs. This not only helps to generate real-world evidence for the effectiveness of a drug, but it also engages physicians to conduct real-world research and publish.
With sophisticated analytics and modeling technology, real-world data can help in:
- Phase I & II:
- Candidate identification
- Population identification and stratification
- Modelling of effectiveness of drug
- Prevalence and incidence for market sizing
- Understanding unmet need with existing treatment pathways
- Phase III and Before Launch:
- Disease models
- HTA models
- Payer reimbursement dossiers
- Post Launch:
- Comparative effectiveness
- Patient experience
- Impact on healthcare utilization
- Impact on patient quality of life
It is imperative for pharma companies to embrace HEOR as a key strategic pillar in every phase of drug development to meet the evidence requirement of all stakeholders and demonstrate the true value of drug.