Real-World Data & Analytics
Real World Data (RWD) / Real World Evidence (RWE) is becoming increasingly essential in healthcare, offering insights into efficacy and safety of medical interventions well beyond clinical trials. With advancements in technology and data collection, RWD/RWE holds great promise in helping improve patient outcomes, enabling personalized medicine, and driving evidence-based decision-making in population health. Data quality, privacy, standardization, and interoperability will be key to unlock the full potential of RWD in the future.
Health Advances is poised to support your organization in providing actionable guidance to improve patient care, enable product commercialization and expansion, ultimately driving value to your business.
Who We Serve
We work with RWD/RWE organizations, clinical trials solutions organizations, biopharmaceutical companies, healthcare organizations, and payers to help develop business strategies that will maximize the impact and quality of their products and solutions by effectively leveraging RWD/RWE.
What We Do
RWD/RWE provide organizations with significantly more data than ever before from various sources including electronic health records (EHR), claims, patient registries, wearables, and apps. Health Advances works with both data vendors and data customers, helping them navigate the complexities of the RWD landscape in healthcare today. Whether to decide on how to incorporate RWD into your current systems, to make use of your organization’s underutilized data, or to effectively market your differentiated RWD/RWE tools and resources to other organizations, Health Advances can help you make informed decisions to achieve your business goals:
- Understand the RWD/RWE landscape including available sources, data types, regulatory considerations
- Define specific use cases for RWD/RWE where it can provide the most value to you and your organization
- Help leverage RWD effectively by developing implementation roadmaps, and estimate the potential ROI from utilizing new data sources
- Identify potential stakeholders, collaborations, partnerships, data vendors to foster the growth and potential of RWD/RWE solutions
Real-World Data & Analytics Case Studies
A leading digital patient engagement platform historically focused on PGHD-related studies approached Health Advances to help identify a viable strategy to expand its near-term revenues and reach larger markets in the longer term. In order to prioritize potential future opportunities and inform the go-to-market strategy, our team studied market trends, opportunity size, customer demand drivers and requirements, competitive landscape and other relevant factors in the top two options selected (patient engagement and RWD/RWE). The opportunities were assessed from the lens of the multiple end customers including biopharma (clinical and commercial), provider, payer, and employers. Health Advances formulated a near-term strategic action plan for the client to pursue opportunities of interest.
Health Advances helped an oncology-focused clinical trial software and services company develop its growth strategy for biopharma concentrating on RWD and eClinical software. Our team assessed the current use of such technologies within biopharma, estimated spend patterns and addressable market sizes, along with unmet needs in the context of the competitive landscape. We prioritized opportunities within RWD data and eClinical software for biopharmaceuticals in clinical development, presenting our client to with several strategic options for near-term growth and potential longer-term implications.
Health Advances helped a multi-state health system develop a monetization strategy for their oncology data assets, including EHR, claims, NGS testing, pathology images, PROs, and health economics data. Seeking to capitalize on growing demand among biopharma companies for direct access to real world data (RWD), particularly in oncology, the provider sought a data-driven perspective on the size and nature of the monetization opportunity. The team's analysis included an in-depth analysis of biopharma use cases and activity in the use of oncology RWD, as well as an extensive competitive landscape assessment to identify potential differentiators and opportunities for the client based on their unique data assets. With a clear roadmap of near-term and long-term opportunities, the size and price points for those opportunities, and the investments required to unlock those opportunities, the health system was able to move forward with confidence.
Health Advances supported a company offering a leading analytics platform for real world data to refine its growth strategy and better understand its competitive positioning in selling its platform to biopharma companies. Health Advances took a two-pronged approach to answer this question. The team first completed a comprehensive primary research program with stakeholders from a number of different functional areas within biopharma companies to understand the use cases and needs of each different functional area. By assessing the key strengths, weaknesses, and capabilities of the client and other competing platforms and overlaying these findings on the findings from the primary research, Health Advances was able to identify several priority segments where the client's platform offered clear differentiation from competing platforms. Based on the team's findings, the client began to develop a more marketing and sales strategy that was more targeted and refined than the ad hoc tactics it had employed in the past.
An emerging real-world data (RWD) analytics company engaged Health Advances to deliver a growth strategy that expands into other therapeutic areas. Working against a short timeline, the team created an initial framework for prioritization based on therapeutic area market size, demand for data analytics among potential customers, and maturity of existing data sources. A rapid prioritization against this framework quickly identified the top five therapeutic areas for further deep-dives. The team modeled the total addressable market for each opportunity across several RWD use cases in clinical development, health economics and outcomes research, medical affairs, and commercialization. We prioritized each opportunity against a more detailed seven-point framework and synthesized findings into recommendations for a near-term and long-term growth strategy. The client used the insights and recommendations to raise additional funding and expand into additional therapeutic areas.
Real-World Data & Analytics Leadership
- Biotech & Pharmaceuticals
- Diagnostics, Research Tools, & Precision Medicine
- Digital Health & Enterprise HIT
Contract Pharma Services, Digital Therapeutics, Employer Health, Enterprise HIT, Real-World Data & Analytics, Remote Patient Monitoring & Connected Devices, Tech-Enabled Services, Virtual Care
Digital Therapeutics, Drug Delivery Devices, Employer Health, Real-World Data & Analytics, Remote Patient Monitoring & Connected Devices, Tech-Enabled Services, Virtual Care, Women's Health