Healthcare Companies and the Need for a 360-Degree View of Patients

27 February 2024
Lev Korolkov, Product Manager
Healthcare Companies and the Need for a 360-Degree View of Patients

Have you faced challenges when marketing new therapies to your target patient demographics? Has your company incurred losses in a particular geographical area? Have you figured out the specific challenges in the sales of your pharmaceutical products? 

The solution can be found to the most important beneficiary of your company: the patient.

The Power of Anonymized Data 

Anonymized Data is a valuable asset that could give healthcare companies an edge against their competitors in the medical business. Data drives progress in every aspect of the healthcare industry, from raw knowledge borne out of medical research to market data showing the profit potential of your newest pharmaceutical product. The real-world information from expertly conducted trials offers additional meaningful data, as such data are lifted from the actual problems of the actual patients. Information extrapolated from the in-hospital journey of the patient gives the most direct data regarding any problems that are likely to be potential targets for improvements both in your product and in the patient’s quality of life. 

For your products to be valuable to the business, you must find out what the patient burden is and how you can alleviate their problems. A 360-degree patient profile can give you the exact type of data which can turn your healthcare products into patient solutions. 

The Benefits of a Comprehensive 360-Degree View: A Better Understanding of the Patient Journey 

Pharmaceutical manufacturers are increasingly addressing data that is related to what is going on with patients outside the clinical trials. 

After specifically structured assessments, post-clinical trial data provides information that is key in improving pharmaceutical products, thus increasing their therapeutic potential, their market value, and their capacity to be a mainstay in clinical management. A 360-degree view of the patient journey solves these problems. 

This can be done in several ways. The natural starting point is through access to electronic medical records (EMR), which have a consistent flow of data gathered from in-hospital patients, and provide guaranteed high-quality data with easy access, as long as you hire the right expert for the job. Patient-Generated Health Data (PGHD), which offers a deeper level of data, can be gathered so as to have more comprehensive information about the patient experience, from when they wake up to before they go to bed at night – sometimes even during their sleep. These more intimate procedures can be brought to you by an expert partner in healthcare data-gathering, which can offer real-world data services. 

One of the benefits of the above is finding data through RWD/RWE studies that are difficult to observe, including the real-life pain points of patients that prevent them from utilizing your products and services. For instance, an oral or sublingual medication can be very effective on paper and efficiently marketed, but can result in dreadful manifestations such as mouth sores, bad breath, or stained teeth. Such intimate data will only be known by meticulous experts in the field. 

Another vital step is to observe the adverse effects of pharmaceutical products that are deemed irrelevant from previous studies. Anything missed by prior research can now be seen through the magnifying glass of a 360-degree view of the patient. 

Through RWD/RWE clinical trials, your company can observe potential adverse events both during and after the utilization of your pharmaceutical products. Complications can also be studied through continuous observation of patient journeys. Anything that went through the eye of a needle of scientific research can still be caught by effective clinical data analysis.  

360-Patient Profiles: Boosting Market Shares of Pharmaceutical Companies 

With all the vital data in your pocket, the pharmaceutical company can find out what, where, and how to improve. This guarantees better market access as you find your edge against other competing products in the field. Being the best product in the market is now within reach. 

With the data gathered for you through Therapyte’s smart solutions in clinical research and data analysis, you can finally utilize these to augment the formulation of your pharmaceutical product. This would give your product an undeniable evidence-based advantage throughout the pharmaceutical industry. Your product can potentially offer new and improved mechanisms of action, better therapeutic potential, and higher rates of prescriptions. 

Overcome clinical problems that only your product provides solutions to. Your team can promote the real-world benefits of your product and this can be attested by patients and doctors alike. 

While certain bioactive substances with therapeutic purposes inevitably result in adverse effects, your pharmaceutical company can benefit from being one step ahead of these adverse effects. The data gathered can help you adjust your approach to product formulation to prevent clinical complications, ending up with a much better product. By maximizing the use of the data you gathered from the patient journey, you can improve your product performance and reduce unwanted effects, and therefore promise a better quality of life during the treatment of your patients. 

With all of the above in mind, you can beat competitors by formulating evidence-based solutions to real-world patient problems that they can't solve. 

Connect with our Team of Professionals 

Data will always be the most valuable asset a modern company can have, and a trusted manager of this data is key to gaining the most reliable data available in the current healthcare landscape. 

Let the patient journey guide you to what patients really need. After all, they are the end consumers of your products and services. They know exactly what they want to get from your products and they will tell you, that is if you have the best people to ask them the right questions – our Therapyte professionals.  

While your competitors are scrambling for the supposed best solution for your patients, let your patient data speak for itself and connect with our professionals to help you bring out the best in your products and services. Talk to our team today.