Trust Goes Both Ways
By: Dean Summerfield, DPhil | March 18, 2014
In an evidence-based world, data is key to decision-making, but that data only has value if the source of the data is trusted. Unfortunately, healthcare industry stakeholders have an unhealthy distrust of their peers.
In our recent survey, we explored how much trust industry stakeholders place on the data biopharma provides to them. The results were disheartening.
We found that 84% of US payers, more than half of EU payers, and all providers surveyed are not confident about biopharma’s claims about value. They also questioned the completeness and transparency of biopharma’s claims, and the reliability of the information biopharma provides to support their claims about value.
This is a real problem. In establishing trust to substantiate claims about value, the completeness and transparency of information provided is critical. Though trust and the validity of data goes both ways.
There’s a great emphasis today on the accuracy and openness of the information that biopharma provides to other stakeholders. But the pharmacological intervention is only one component in treating a patient. The health outcome equally depends on many other things, like comorbidities, quality of follow up care, timeliness of treatment, and the age and overall health of the patient.
All of these issues are outside of the control of the biopharma company, yet they are in many ways held accountable for the impact these factors have on outcomes. And as a result, biopharma must be equally able to trust the data provided by the payer systems and the provider organizations about these issues.
If we are ever going to get to the point of achieving the triple aim of improved health outcomes, greater health quality and reduced cost, then a more open dialogue about the reliability, transparency, and accuracy of data from all parties has to take place.
Without trust, we will be hopelessly stuck in an inefficient system where progress and innovation is held back by discord and dishonesty.
You can learn more about Quintiles research into the value proposition by downloading the Value is the Target.