Real-world data (RWD) presents valuable opportunities to enhance patient safety by bridging the gap between research and healthcare practice. However, nearly half of pharmaceutical organizations do not currently utilize RWD in drug research and development. RWD can inform treatment plans, prevent adverse events, and improve patient care. It encompasses diverse sources, including electronic health records, claims and billing data, patient registries, wearables, and patient-reported outcomes.
Key benefits of leveraging RWD include:
- Faster risk and safety signal detection: RWD empowers pharmacovigilance teams to understand treatment patterns and disease prevalence better, enhancing signal identification and trend monitoring. Cognitive computing can analyze data quickly to identify trends and enable proactive safety responses.
- Unknown benefit identification: RWD can reveal unanticipated positive outcomes associated with drugs or treatments, using AI methods to detect patterns and correlations.
- More personalized medicine: RWD allows for personalized care, considering individual variabilities and factors like lifestyle, genetics, and health history when making healthcare decisions. Cognitive computing helps build patient profiles and identify risk factors, leading to optimal medication use.
Analytics and automation are essential for extracting meaningful insights from RWD. AI-powered pharmacovigilance software automates data collection, management, and analysis, improving efficiency and accuracy. To fully leverage RWD, organizations should seek end-to-end safety platforms that offer seamless integration, cross-platform analytics, intelligent automation, and self-service reporting.
RWD has the potential to revolutionize patient care and should be embraced and invested in to optimize its value. The assets are available, and it’s time to leverage them for the benefit of patients.
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[Source: pharmaphorum, October 26th, 2023]