By: Patrick Jordan, MBA, MA | September 15, 2013
One of the biggest challenges the healthcare industry faces today is data management. To make effective decisions throughout the healthcare process – from discovery and development of drugs, to their delivery to patients at the point of care – the industry needs access to integrated healthcare data. And the more easily we can access that data, the more efficiently and cost-effectively we can make those decisions.
Unfortunately healthcare data today resides in silos, with each data set locked in a disconnected system. This lack of integration forces providers, payers, and biopharmaceutical executives to make choices about care without access to all the information they need.
But trends suggest data integration has become a priority for all industry stakeholders, which is a vital and positive step forward.
In our recent survey of healthcare industry stakeholders, three of four respondents indicated that data integration was vitally important to their strategies to develop and commercialize products. More than 70% of stakeholders believe transparency around data sources and information-sharing across stakeholder groups is important to the success of an interoperable healthcare system.
Integrating these systems will be challenging, but progress is being made. Several health information exchange systems have been launched in the last several years, to create statewide integrated data system that provide physicians with access to patients’ medical history at multiple points of care. In other cases, biopharma industry leaders have partnered with technology companies to build integrated technology systems and to develop standards for technologies, policies, and approaches to clinical data management and analytics.
As these new tools are adopted and as more data streams are connected, a whole new set of drug development and commercialization decisions can be made that enhance the cost and quality of care. These decisions will be informed by data around patient adherence, clinical utility, physicians’ use of products, and payer activities. All of these steps will help drive waste and risk out of the process, improve outcomes, and increase the chance that new products will be commercially supported, which creates value.
You can read more about our survey results on data integration, and the industry’s move to a systems-oriented environment here.