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Vis-a-vis the value-based imperative, healthcare systems are looking for new ways to reduce costs and improve outcomes. Analytics are considered to be the key which will enable the implementation of effective programs focusing on patient outcomes. Deloitte Center for Health Solutions 2015 US Hospital and Health System Analytics survey shows that despite investment in analytics, the results have been mixed due to cultural change issues, operating models and fragmented oversight. As a result, although respondents agree that analytics investment is essential for successful transition to value-based care, many organizations still lack clear vision, effective data governance model and budgeting strategies to support the adoption of analytics. Analytics is becoming a major competitive advantage and if used properly, can add value to the organization’s goals, customer programs, growth initiatives and cost reduction efforts.
The Need for Smart Data, by Eye for Pharma
James Weatherall, head of AstraZeneca’s Advanced Analytics Centre, discusses some of the ways in which pharma utilizes the potential of healthcare data (EHR and clinical) to enable smart business decisions. He predicts the following trends which will shape the future of the agile pharma company:
- Identification of “smart data” which will power smart analytics and decisions
- The challenge to find data science talent with a wide range of skills in a high-demand market
- Partnerships with data analytics companies with pharma specialization and relevant skillset to tackle the multiple data sources challenge
- Securely storing data in the cloud is essential for cost reduction and scale
- Direct data from patients will increase exponentially allowing the development of treatments for unmet medical needs
- Data integration will become a key differentiator for pharma to gain insights that give a competitive edge
- Along with all technology-informed decisions, subjective human judgements will continue to play significant role. The combination of data-driven insights and qualitative assessments should inform the company strategy.
More followers and more daily tweeting as Big Pharma’s Twitter presence grows, by FiercePharmaMarketing
A survey by the Eye on FDA blog found that life sciences companies have become more active on Twitter over the last year. In 2015 the followers of pharma, biotech and medical device companies grew to 2.54 million, versus 1.51 million in 2014. In fact, there wasn’t a significant growth in the number of twitter accounts, which means that the existing ones actually grew their follower base. The Twitter accounts with the highest following this year are @TeamNovoNordisk, and the company feeds from Novartis, Pfizer, Roche and Bayer. The growth of followers and posts also indicates that FDA needs to reconsider its social media guidance and take into account the character space limit of posts on Twitter.