The Race Intensifies for Real-World Evidence - Learn Why!

This past quarter, we have seen some really significant developments in the generation of leads for our clients. Our lead generation system, PharmaBDi, is designed to track leads and their interest in setting up meetings with prospective suppliers and service organizations. In studying the data and metrics from this past quarter, we learned that Real World Evidence (RWE) experts from pharmaceutical and biotechs took the lead in becoming leads wanting to meet with our customers.

Our system reported that Real World Data and Real-World Evidence specialists are generating the highest lead conversion rate out of all title groups at 11.67%. This means that nearly 12% of the Real World Evidence or Real World Data (RWD) prospects that we emailed became a lead. The significance of this data becomes even more apparent when compared to other popular title groups, such as “Clinical Trial Manager” which has a much lower conversion rate at 2.69%.

What About Real-World Data Makes Research So Much Better?

So why is this finding so important? According to the Drug Information Association (DIA), Real World Evidence is becoming increasingly important for regulatory decision-making and is beginning to touch all areas of the healthcare value chain. Historically used for post-market safety monitoring, sponsors are now beginning to use RWE to support the clinical trial design and observational studies in order to generate better treatment approaches, while healthcare systems are collecting and using RWE to substantiate coverage decisions.

RWE/RWD has an important role in decision-making related to authorization and reimbursement and access to new medicines. It can be used for understanding 'real-world' settings, such as treatment populations, patterns of care, and the burden of disease. ... providing new evidence of relative effectiveness of new medicines.

Cutting Timelines for Oncology Trials

Ed Miseta, Chief Editor, of Clinical Leader recently interviewed two industry leaders on the topic of the growing popularity of RWE. He lists two main reasons for the trending popularity of RWE: (1) cutting timelines, (especially for oncology trials), and (2) a larger amount of information available once the drug is in the general population (His full article can be read here.)

RWD is routinely collected through different digital health sources. For example, electronic health records (EHRs), product/disease registries, patient-generated data, medical claims/billing databases, mobile devices, etc. Dr. Jennifer Bradford, Head of Data Science at PHASTAR, writes earlier this year that RWD and RWE can be further enhanced with the application of Artificial Intelligence (AI), which can produce an analysis of patient treatment pathways, identify the risk of disease development for patients, and track patient behaviors and adherence.

Real-world evidence is important because it complements data from Randomized Controlled Trials (RCTs). The ever so important science behind the drugs that are developed is what sets things in motion. Coupled with RWD that is developing RWE makes our industry stronger and benefits the patients who need medicine to improve their quality of life. As a colleague, Tim Lamm, Founder of Premier FDA Solutions recently wrote in his blog, “What’s So Great About The Life Sciences’ Industry? Everything!”- We couldn’t agree with him more.

We will keep you posted on additional metrics and provide reasoning as to our metrics and findings with our data and day to day lead generation operations. Stay tuned.