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As the pharmaceutical industry's use of real world data rises, regulators, payers, physicians and patients are increasingly expecting pharma companies to demonstrate the effectiveness of new medicines. Pharmaceutical companies, in turn, are relying on their Medical Affairs function to oversee the collection and utilization of real world data for informing key stakeholders on product effectiveness.
However, it is challenging for Medical Affairs groups to harness relevant information from huge data sources such as electronic medical records, clinical trial data, and patient behavior data. Equally difficult is the task of assimilating this information in a way that presents a clear outcomes picture in terms of cause and effect.
Best Practices, LLC undertook benchmarking research to understand Medical Affairs' role in the collection, analysis and dissemination of RWD. Additionally, this study probes the pros and cons of various forms of RWD and lessons learned in utilizing it.
This study includes two segments: Regional Segment: US-Only (N= 8), Global (N= 12) and Company-Size Segments: Large Companies (N= 18) and Small and Mid-sized Companies (N= 10).
Collection of Real World Data:
- Challenges in Collecting and Evaluating Real World Data
- Sources of Data
- Vendors for Collecting Real World Data
Utilization of Real World Data:
- Current Use of Real World Data
- Future Use of Real World Data
- Barriers to Use of Real World Data
- Improving Medical Affairs’ Use of Real World Data
- Strategic Use of Real World Data by Medical Affairs
Valuation of Real World Data:
- Valuable Real World Data Activities
- Pros & Cons of Forms of Real World Data
- Lessons Learned
- What challenges does Medical Affairs face in collecting and evaluating the use of Real World Data in the function?
- What percentage of Real World Data collected falls under the following categories - internal (self-generated data), external (purchased data) and external (free data)?
- Who are your external vendors for collecting Real World Data?
- How does your Medical Affairs group currently use Real World Data?
- When does your Medical Affairs group currently use Real World Data?
- In the next 2 years, how will Medical Affairs more use Real World Data?
- What barriers will limit Medical Affairs use of Real World Data?
- How can Medical Affairs improve its use of Real World Data?
- How does your Medical Affairs group make use of Real World Data in supporting its strategy?
- How valuable are the listed Real World Data activities to Medical Affairs' success?
SAMPLE KEY FINDINGS
- Data Interpretation and Data Analysis are Among the Most Valuable Real World Data Activities that Contribute to the Success of the Medical Affairs Function: Real World Data activities pertaining to data analysis and insight generation are most valuable to Medical Affairs, irrespective of company size. Additionally, data generation, identification and acquisition are also deemed highly valuable by benchmark respondents.
Best Practices, LLC engaged 28 Medical Affairs leaders from 23 leading biopharmaceutical companies through a benchmarking survey. More than 75% of participants serve at the director level or above.