Pharma Data – Opportunities and Challenges Revealed
What do Ashley Madison and the Pharma industry have in common? Data, which is powering both privacy concerns and innovative, life-altering therapy options. Data is blazing a trail in Pharma, with new revelations and connections being made each week. Yet, data raises many complexity issues; on the one hand, it allows us to uncover secrets, such as the rising percentage of FDA approvals and showing its strengths by improving patient care. On the other hand, it raises questions of privacy… All in all, the industry is showing that innovative ideas combined with powerful data are getting results. Find out how.
1. Will Pharma Have an Ashley Madison Moment?
By Jeff Greene, published on Medical Marketing & Media
Data privacy and pharma
Incidents like the Ashley Madison breach could have far-reaching implications for healthcare and pharma. The exposed data could send doctors and patients to the hills, gun shy about offering up personal information or fearful of medical device data theft. Pharma should heed these warnings and take threats at face value, go to great lengths to protect data and get on top of situations to build and maintain consumer trust.
2. Five Things You Never Suspected About Your Healthcare Data
By Robert J. Szczerba, published on Forbes
Healthcare data challenges and perks
Healthcare has significant access to patient data, but most of it is left unused. Improving the use of patient data is one of the main challenges and primary drivers for pharma and healthcare. However, integration is lagging. Some of the issues slowing adopting down is the complex nature of the data, data errors, and the volume of data created each day. With the right data insights, however, organizations can improve workflows and improve patient care.
3. Same Day Cancer Treatment By 2020? Data Scientists Think So
By Leo King, published on Forbes
Cancer treatment innovation
Could the days of lengthy wait for cancer treatments be over? With big data, scientists believe it may be possible for patients to get same-day cancer treatment. First, they need to overcome the problem of cancer treatment discovery protocols, which are heavy on experimentation. To accomplish this goal, organizations will need to depend heavily on the ability to share and analyze data. Instead of waiting months to determine the best medicines and treatments to use, the data will deliver the treatment protocol in just one day. That’s big data at its best, and why healthcare can’t ignore its potential to transform patient care.
4. The FDA Is Basically Approving Everything. Here’s the Data To Prove It
By Matthew Herper, published on Forbes
Interesting data on drug approvals
Data shows that the FDA’s rejection rate has decreased, while its approval rate is increasing. In 2008, the FDA rejected 66 percent of new drug applications. So far in 2015, they’ve approved 89 percent of applications; however, when calculating additional factors, the total approval rate is actually 96 percent! No doubt, this is the golden age of approvals, which means good news for investors. But, such a high approval rate raises questions regarding standards and risks in choosing haste over caution.
5. Patient-Generated Health Data: FDA & PatientsLikeMe Collaboration Lighting the Way for Pharma
By Danielle Arad, published on Verix
Patient-generated health data leads to positive outcomes
Bulky data a problem no more? So it seems from the results that collaborations like PatientsLikeMe and FDA are getting. With patient-generated health data, analysis should lead to valuable, actionable insights for pharma, upon which they can build even better digital health programs and drive improved patient care.