SHYFT’s RWE Solution has been recognized in April’s issue of PharmaVOICE Celebrating Innovation. SHYFT was included amongst elite innovative organizations whose cutting-edge technology platforms are changing the shape of life sciences with a new way of thinking. Here is why:
SHYFT’s RWE platform provides guided analytics that translate RWE data into patient-centric intelligence. The resulting actionable insights provide pharmaceutical companies a better understanding of unmet patient need, allowing for more targeted and streamlined product development, which in turn improves patient outcomes and elevates the overall quality of healthcare. As evidence-based care yields greater cost efficiency, the industry will be able to extend coverage to a wider population by ensuring that the optimal standard of care is also the most cost-effective.
The RWE solution, cloud-enabled and mobile-ready, aggregates data from numerous RWE sources, including Electronic Health Records (EHRs)/Electronic Medical Records (EMRs), insurance claims, hospital reports, clinical trials and patient registries, etc., and allows intuitive access to information, tailored to various users, technical and non-technical alike. The platform’s Patient Cohort Analysis tool provides a detailed understanding of specific patient populations’ interactions with the healthcare network and treatment algorithm (both pharmacological and non-pharmacological), as well as associated adherence measures, treatment outcomes and cost of care.
SHYFT’s executive team recognized that today’s RWE challenges and opportunities are very similar to those other data and analytics challenges their platform solves. Leveraging their industry cloud technology, SHYFT launched their solution earlier this year and is onboarding several new customers.
Traditionally, RWE lay exclusively in the clinical domain, where only the most technically adept power users could gain insights though labor- and time-intensive query processes. But now, as healthcare enters the era of patient-centric, evidence-based decision-making, the SHYFT RWE platform accelerates the adoption of RWE across the full spectrum of users in Sales, Marketing, Health Economics and Outcomes Research (HEOR), and Research and Development functional areas by providing real-time access to aggregated data and guided insights in an elegant and easily consumable format. This intuitive access improves the probability of both clinical and commercial success by shortening cycle times across all phases of the product lifecycle to enable better business results.
SHYFT offers its customers two distinct advantages: First, on the operations plain, the SHYFT platform solves life sciences companies’ complex IT problems. Typically, RWE is disseminated in terabytes of data due to the large number of patient records and clinical variables. The traditional approach within the industry to solving this challenge of big data analytics involves engaging a systems integrator to custom build a large-scale, complex, IT infrastructure and wrap it with ongoing support services. These build efforts can easily require several years and tens of millions of dollars, and once implemented, they remain very rigid systems that may or may not deliver the desired results. SHYFT’s approach is completely different: Build it once; build it in the cloud; alleviate the customer’s risk by providing a fast, reliable, replicable and proven solution that’s ready to go in 12 weeks, at a fraction of the price, with 100% confidence of successful deployment, and with the flexibility to quickly accommodate new and changing business requirements.
Second, on a business intelligence level, by arming cross-functional teams with unique, novel, and timely analytics, SHYFT maximizes pharmaceutical companies’ abilities to better understand the life of a patient and his or her journey through the healthcare system. SHYFT’s RWE solution allows key healthcare stakeholders to utilize patient-level clinical and financial information to gain insights about patient segments. Integrating and utilizing tens of thousands of patient-level data – EMR and claims – enables customers to gain insights about safety, efficacy and cost benefits of a pharmaceutical product throughout its lifecycle. Equipped with smarter analytics accessible through more intuitive interfaces, life sciences companies are better positioned to make smarter investments in new product development to better meet the needs of underserved and/or niche patient populations. SHYFT moves Pharma forward to a patient-centric, evidenced-based data environment.
SHYFT has embraced the RWE mandate and adopted a simple premise: With the right tools and expertise, data can be turned into insights; insights lead to actions; actions change behavior. The company has simplified the process of evidence-based decision making by creating a cloud-based, mobile-ready platform that can deliver guided insights to all users anytime, anywhere, and on any device.
Priya Sapra is the Vice President of Analytics at SHYFT