New News: Big Data in Pharma and Healthcare
Big data isn’t new, but how it’s driving change in pharma and healthcare is new. Every week, it seems, no matter where you turn, there’s new mention of how big data is disrupting the industries. While many of us are on summer holiday or are turning down the gears to enjoy the season, big data isn’t taking a break. This week, pharma is uncovering how to overcome drug development challenges with big data analysis, while healthcare wearables, the Internet of Things, and actionable insights are sure to improve patient care and healthcare outcomes. It’s an existing ride, isn’t it?
1. Continuous Healthcare: Big Data and the Future of Medicine
By Shomit Ghose, published on VentureBeat
Improved Healthcare on the Horizon
Traditionally, physicians collected “big data” during patient encounters, but not much data, if any, was collected outside of the office visit. For healthcare and pharma, big data’s potential for disrupting the industry is held in the data that can be collected 24/7 – or outside of the doctor’s office. Continuous healthcare is made possible by the behavioral data collected by smartphones, wearables and other devices, making real-time disease monitoring possible, along with improved healthcare for even healthy patients. Huge potential also exists for under-served populations that can’t access or afford healthcare.
2. The IoT and Big Data Are Teaming Up to Push Healthcare Further Than Ever
By Jared Jaureguy, published on Smart Data Collective
Internet of Things Pushing Healthcare Boundaries Farther
The Internet of Things (IoT) is positioned to transform healthcare, driving care models and patient outcomes. The shift to electronic health records has made an enormous amount of collected data possible, which in turn organizations can use to improve healthcare. Combined with the IoT’s connected devices, healthcare can move beyond what was previously imagined. This is particularly true when it comes to prevention. Wearables, again, are driving the possibilities, with connected devices tracking health information and monitoring patient health. Future changes may include wearables that are even less obtrusive, featuring sensors on clothing that is automatically shared with doctors.
3. Big Data Innovation and Risk: How to Strike the Balance
By Adam Towvim, published on PharmaExec.com
Can Big Data Push Pharma Out of the Red?
Pressures for pharma are huge, as the financial investment per new medicine hovers around $5 billion. Dealing with rising development costs, reduced productivity from R&D and pressure from insurers and government over pricing, pharma is turning to big data as its savior. The collection of data, the ability to share it, and analysis resulting from it may be the turning point for increasing productivity of R&D and decreasing the cost of developing drugs.
4. Healthcare Big Data Analytics Plays Critical Role in Quality
By Jennifer Bresnick, published on HealthData Intelligence
Getting Insights From Big Data
It’s not the quantity of data that matters; it’s what pharma is able to do with it that makes a difference. Healthcare big data analytics offers the ability to get meaningful information from data, upon which organizations can draw actionable insights. When this becomes the reality for organizations, a new healthcare system will sprout up, improving quality of care and patient outcomes. Not an easy challenge to overcome, success is determined by the ability to streamline multiple clinicians who have access to patients, varying healthcare settings, and diagnostic tools and treatment options.
5. Healthcare Industry Must Focus on Training Machines Over the Next Three Years, Accenture Reports
By Jenn Francis, published on BusinessWire
Study Shows Big Data Holds Big Value
Accenture’s annual report highlights trends that will affect healthcare within the next five years. A few of the outcomes of the report hold a connection to big data. Driven by the massive volume of big data collected, respondents agreed that managing “smart” technology will become just as important as managing people. Over 80 percent of the report’s respondents either agreed or strongly agreed that the industry at large needs to spend as much time on training for technology as they do on training employees. However, a majority of respondents also agreed that technology is driving smarter software that, in turn, helps inform big data insights that power better healthcare and improved decisions.
6. Leveraging Big Data to Solve Pharma’s Hard to Cure Problems
By Murad Vassib, published on pharmaceutical-technology.com
The Cure for Drug Development Woes
Drug development problems continue to plague pharma, but not for those that see a way to harness big data’s potential. At its core, big data may hold the key to unlocking pharma’s most difficult problems, via clinical trial, electronic healthcare and medical test data on file. Before analysis can begin, however, pharma organizations must learn to effectively organize the data. Only then can actionable insights be gleaned to improve drug development.
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