Data Mining will Become Essential to Reduce the Disease Burden and Empower Healthcare Stakeholders
With the rising number of stakeholders playing a role in medical decision-making, pharmaceutical companies are looking for more effective ways to communicate the value of an innovative treatment. They are increasingly turning to actionable, evidence-based programs to convince these stakeholders of the value of the treatment. A comprehensive data set can help an analytics team map a treatment journey and quickly identify the patients and physicians who are most likely to benefit from a novel therapy.
Frost & Sullivan’s latest executive brief, The Most Effective Way to Identify Better Outcomes When Using Limited Patient Populations, examines how analyzing predictable patterns in the patient journey can help commercial teams identify patients who can benefit from novel therapies.
“Due to the complexity of identifying rare diseases, new methodologies and data mining approaches are necessary,” observed Dennis Kimmel, Senior Consultant, Life Sciences at Frost & Sullivan. “The information relayed to a commercial team must generate accurate and timely alerts regarding a patient cohort so the therapy can be optimally effective. This means that the intelligence the commercial teams receive must be patient-centric and cohort-specific. In such a scenario, innovative and validated software that can analyze isolated data sets from a multitude of databases will prove crucial.”
“We believe that smarter, more innovative use of data and analytics is essential for reducing the global burden of disease,” noted Aswin Chandrakantan, MD, Chief Medical Officer at Komodo Health. “Rich and nuanced data is the key to predictive solutions that can empower a multitude of healthcare stakeholders, including life science companies, healthcare payers and providers, and patient advocacy groups, to create a more cost-effective, value-driven healthcare system.”
In this multibillion-dollar industry, a company may only have limited experience with a disease or be entering a completely new therapeutic area; a succinct alert map of patient encounter data is a valuable asset. Commercial teams should evaluate a mapping vendor based on:
- Broad visibility: A deep data ecosystem that captures diverse signals for large populations and an array of clinical encounters.
- Accuracy: Data modeling that eliminates false negatives and positives in alerts.
- Speed: The frequency of alerts on patient treatment at optimal phases.
- Evolution: New features in alerting software and new data sources that continually elevate the system.
- Expertise: Years of experience in identifying highly complex patient cohorts and translating clinical patient journeys.