Visualizing the big picture in Specialty Pharmacy data is critical to improving patient therapy initiation, behavior and adherence, and outcomes. An effective analytics strategy involves understanding what data is available, asking questions that help you choose the data that supports your goal, and connecting all the dots.
Pharmaceutical manufacturers (pharmas) who understand data and can make intelligent, meaningful data connections have a competitive edge. However, the rapid growth of the specialty pharmacy market (projected to grow to $500 billion by 2020), however, has resulted in a large volume of complex data that can be overwhelming for pharmas seeking to obtain (and understand) Specialty Drug Data.
Data provided by multiple sources can vary greatly in scope and format. Identifying the most appropriate set of data to leverage begins by understanding the data available (including Specialty Pharmacy data, as well as Internal, Trusted Third Party, and Syndicated Data), how the data aligns to your business needs and/or analysis goals, and the potential limitations of the data; e.g., syndicated data does not align on the patient level; it is de-identified and has its own syndication number for each patient.
Formulating specific questions (i.e., are there points where engagement can speed patient initiation or eliminate gap days?) helps determine what type(s) of data is needed, such as Lab Diagnostic, EMR Clinical, Medical Claims, Rx Claims, and Digital Behavioral Data. Collecting data, however is just the beginning. The views of the patient journey with the most impact are those that integrate de-identified data from a wide range of sources into de-identified, longitudinally aligned patient-level data sets.
Management Science Associates (MSA), the industry leader and most trusted third-party partner for the de-identification, integration, and management of HIPAA-protected data, can effectively anonymize and merge data without diminishing its analytic utility. MSA’s patented de-identification and data integration processes transform raw data into the insights needed to improve therapy for the patients who depend on it.
Click here to download MSA’s whitepaper: Seeing the Big Picture in Specialty Pharmacy Data, published September 2019.