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5 Reasons Why Your Data Management System is Failing You

Posted by Shelly James on May 18, 2017 11:28:46 AM

 

Pharmaceutical companies are one of the major beneficiaries of emerging technologies.  From innovative ideas for developing new drugs to customer engagement, drug manufacturers are increasingly resorting to cutting edge digital technology to streamline business and improve efficiency.  Nowhere in pharma is the boom in technology more beneficial than in data management, an area where many drug companies struggle to organize and manage massive quantities of information.

As the regulatory landscape increases in complexity, the demand for improved 

data management and analytics will increase as well.  With all the new challenges that these trends create, digital data management is an innovation that pharma companies should have in their toolbox.

Below are the top five reasons that your current data management system is failing your company:

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Topics: Data Management

Can Higher Drug Prices Lower Healthcare Costs?

Posted by Brian James on May 11, 2017 9:33:00 AM

Of course, if you can get the same medication for less, that is better, but what if switching to a newer more expensive drug actually saved money?  Recently I had the pleasure of moderating a panel at the Outsourced Pharma conference in Boston that was focused on cost and price pressures in the pharma industry. Based on the nodding heads in the audience, I think it is fair to say that our industry has an image problem.  While I cannot and will not try to defend some of the more recent high-profile cases that have garnered media attention, there is certainly a case to be made that not all pricing is gouging patients.

Last week the Chicago Tribune highlighted a Blue Cross Report that squarely blames pharma companies for high drug prices.  According to the report, member plans spent 73 percent more on prescription drugs in 2016 than in 2010, attributed to "large year-over-year price increases" for new drugs that are protected from competition by patents.  in addition, the report highlighted the increase in consumer spending on drugs noting that consumers have been paying 3 percent more a year, out-of-pocket, for all prescription drugs but 18 percent more a year for patented drugs."

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Topics: Pharma Pricing, Pharma and Politics

Cost vs Price:  How Can You Maximize Value?

Posted by David Perritt on May 9, 2017 11:20:00 AM

Recently, in a forum setting, a panel discussion touched upon cost versus price and how best to address the potentially touchy issues of cost versus pricing. With recent consumer outrage over drug pricing and demands for cost controls, this is a hot button issue for both drug companies and the people they serve.
 

A great deal of attention has been placed on the price of drugs; some have even called price increases gouging, but to paraphrase a panel commentator – ‘Beats’ headphones have margins on their products much hihger than pharma and nobody seems to care about that."  Although this is a true statement, to be fair, nobody's grandma has ever died without their "Beats."  Perhaps there is a way to let grandma have her Beats AND her heart medication.  With that statement in mind let’s explore the top three ways to optimize both cost and pricing:  choosing the right CMO, maximizing communication, reducing errors and celebrating innovation.

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Topics: Data Management

Patients: Pharma's New Partners?

Posted by Shelly James on Apr 27, 2017 1:23:42 PM

Value-based healthcare models have upended traditional patient care, becoming the wave of the future. How can pharma effectively ride this wave?

The pharmaceutical industry is facing rapid and comprehensive change, spearheaded by a new trend in consumerism, a move towards a value-based economy. This move puts the patients firmly in the driver's seat and presents increased opportunities and challenges, requiring drug companies to work more closely with patients than ever before.  According to a recent report by PwC Health Research Institute, pharma’s new strategic partner may very well be patients.

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Topics: Data Management, Pharma Pricing

Standardizing Laboratory Data:  Next Great Idea or Necessary Evil?

Posted by David Perritt on Apr 24, 2017 12:02:01 PM

A very close and trustworthy colleague in the industry has stated that the magic of the lab is the absolute random, disarray of work that leads to producing the best drugs.  The way that different pharma companies operate during the drug development process and the way they collect, analyze and distribute the data is unique to that company.

Result: The successful drugs we have today.

On the other hand, industry pressure, government regulations and financial responsibilities have pharma looking inward to see how changes in the drug development and manufacturing process can be streamlined and efficient.  A common answer to the problem of efficiency is standardization.  There are multiple benefits of standardized data:  better communication, savings of time and resources, ease of comparison and enhances collaboration between scientists and outside partners.  According to Nicola Tambascia of Clinipace, more regulatory agencies worldwide are beginning to require standardized data as part of the submission process.

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Topics: Data Management

Direct to Consumer Pharma Marketing - Good or Bad?

Posted by Brian James on Apr 20, 2017 11:21:17 AM

There are only two countries in the world that allow for the marketing of pharmaceutical products directly to potential patients, the United States and New Zealand.  One must wonder why, if it such a great idea, that it isn't more commonly allowed.  Well maybe it isn't such a good idea, or maybe there is a compromise.

In 2015 US pharmaceutical companies spent 5.2 billion dollars on direct to consumer (DTC) marketing.  Proponents of DTC contend that the ads inform patients about diseases and possible treatments and encourage people to seek medical advice. Opponents contend that ads misinform patients, promote drugs before long-term safety profiles can be known and stigmatize normal conditions like wrinkles and low testosterone.

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Topics: Pharma and Politics

Five Tips To Make Your Data Work For You

Posted by David Perritt on Apr 19, 2017 11:37:00 AM

 

"Scientists spend greater than 50 percent of their time searching for data that already exists."

-Allotrope Foundation

Does your data have a purpose? If not, you may be missing an opportunity--or worse, wasting your time collecting random bits of information. Here are the top five tips to ensure that your data is working for you.

Integrity

Integrity is a key component of putting your data to good use.  Technology has improved exponentially over the years to allow for document organization, data management and overall informatics control.  Control is the key when it comes to data integrity.  The ability to control your data is fundamental in guaranteeing the integrity of your data; a critical component of regulatory submissions and documentation.  Choosing the right tools to control data is imperative.  Not all tools require validation, but a solution should have the ability to trace data for consistent recall for submission and filing purposes.  Control your data and it's integrity, and you will save yourself untold amounts of time and headache when it's time to submit your documents.

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Topics: Data Management

Is the Patient the Most Difficult Aspect of Healthcare?

Posted by Shelly James on Apr 13, 2017 11:42:00 AM

 

The pharmaceutical and medical industries are in the business of saving lives.  As a scientist, there is little to compare to the satisfaction of knowing that you have contributed to advancement in the treatment of an illness affecting millions of people.  I imagine that physicians feel much the same way, and take great pride in their work when they have a positive impact on their patients.  There is no doubt that the correct diagnosis and effective treatment are essential to a patient's survival and quality of life, and pharmaceutical companies and doctors work hand in hand in this regard.

 

A large percentage of illness is directly caused by the choices of the patients themselves.  Statistics from the Center for Disease Control (CDC) support the idea that patient behavior is the single largest contributor to health.  According to the CDC, up to 40% of annual deaths from each of five leading U.S. causes are due to “modifiable risk factors.”  In addition, patients often do not understand or follow their doctor’s recommendations:  after leaving an appointment, 50% of patients do not know how to follow the instructions of their healthcare provider.  In case this seems like a problem with a new diagnosis, people with chronic conditions only take 50% of prescribed doses of medication.

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Data Integrity and the Increasing Complexity of Your Data

Posted by David Perritt on Apr 11, 2017 11:12:00 AM

In this day and age there are multiple organizations whose sole purposed is to collect, organize and interpret your data.  Data has never been more critical, and the use and interpretation of it become even more important every day.  But how can we capitalize on using every bit of our data to increase our output effectively?

To ensure safety and efficacy, any data associated with a pharmaceutical product must be “attributable, legitimate, contemporaneous, original, and accurate.”

-Darren Barrington-Light, Biopharm International

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Topics: Data Management

Recent Opioid Deaths Not Driven By Legal Narcotics

Posted by Shelly James on Apr 6, 2017 11:10:00 AM

Problems with Prescriptions

Recent restrictions on opioid prescriptions have attempted to stem the national tide of abuse and overdoses; two-thirds of the overdose deaths in the United States are related to opioids.  New Jersey just passed one of the nation’s strictest laws in efforts to address the crisis.  Multiple states have passed laws limiting opioid prescriptions and more states seem poised to follow suit.  Recently, President Trump created a commission headed by New Jersey's Governor Christie to study the epidemic and suggest policy changes.

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Topics: medicine and law