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EMEA Thought Leadership
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
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EMEA Thought Leadership
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn more -
Middle East & Africa
EMEA Thought Leadership
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn more
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Bringing together unparalleled healthcare data, advanced analytics, innovative technologies, and healthcare expertise to create intelligent connections that speed the development and commercialization of innovative medicines to improve patient lives.
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Accelerate digital innovation to enable smarter decisions that reduce cost, modernize patient and consumer engagement, and improve health outcomes.
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Your world is unique – and quite different from pharma. In the U.S., decision-making has shifted from individual physicians to integrated networks--GPOs, IDNs and payers. These groups have heightened the focus on proving your solution’s value, demanding outcomes analyses and putting pressure on pricing.
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Blog
Curating Data to Enable Patient Care Innovation in MedTech
Mar 14, 2022
The explosion and influx of new data from digitalization can open new doors for innovation in patient care — but only if leveraged, connected, and part of an integrated ecosystem. A focus on patient-centricity requires greater connectivity, digitalization, new technology and analytics solutions, and at its core, an effective data management strategy by all MedTech organizations.
This blog will discuss market dynamics that are changing patient needs and behavior, the pillars of data connectivity, and the building blocks of an integrated data ecosystem.
The market dynamics changing patient needs and behavior
With advances in technology and the adoption of wearable health trackers, the role of the patient and patient engagement has changed. Patients are more vocal, proactive, and engaged in their care with an interest in prevention. 45% of consumer wearables now track health parameters beyond activity and fitness monitoring. Sites of care are shifting with more and more patient interactions taking place in ambulatory settings, walk-in clinics, or via telehealth visits (Figure 1).
MedTech companies are investing accordingly. MedTech companies are uniquely positioned to solve care delivery problems in a way that can give time back to healthcare professionals and allow them to spend more time on the most critical aspects of care.
The foundation for solving these types of problems must be a company’s data management strategy that makes sense of the massive influx of data that is being generated these days that when mastered, managed, and analyzed properly can provide meaningful commercial and patient insights that drive innovation and business decisions for MedTech organizations.
The pillars of data connectivity
Intelligent connections bring together commercial data, patient data, and claims data to gain actionable insights.
By tying important data elements — for example, sales data, data on sites of care, distributor data, information on key opinion leaders, decision makers, and more — to other relevant patient data such as office or lab visits and related procedures, MedTech companies can get deeper insights into the patient, map their healthcare journeys, and identify the opportunities for improvements in care delivery and commercial effectiveness. They can use these insights to pivot their business accordingly.
Once MedTech companies have identified patient insights, their future commercial models can be driven by the Next Best action; a customizable, AI-based engine that enables MedTech companies to take the appropriate action for optimal patient engagement.
The building blocks of an integrated data ecosystem
There are four crucial parts in every data-to-insights journey:
- Data available and acquired
- Data integrated and managed
- Data accessed and visualized
- Insight found and action taken
IQVIA challenged itself to decrease the length of each of these steps, connect the steps, integrate data as it becomes available, and provide insights while the data is being integrated and managed.
To do this, IQVIA built an end-to-end ecosystem that includes all elements of the data-to-insights journey, from data-as-a-service, to data warehousing, to integration and master data management, to the visualization and analytics layer, ending with Next Best action automation. This ecosystem is called the Integrated Data Management Platform.
It’s a centralized repository of all the above core data management capabilities, purpose-built for MedTech.
Critical features include:
- Seamless data integration of IQVIA data assets and third-party systems
- Scalable for every size of MedTech company
Conclusion
MedTech companies can benefit from the integrated data management platform in whichever way it suits their business needs: anywhere on the continuum from fully owned and operated by the MedTech company to fully outsourced to IQVIA.
IQVIA allows MedTech companies to focus their own resources on what is most important to them, improving patient care through innovation.
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