Biopharma Companies Increasing Investment in Next Generation Platforms, Talent and Partnerships to Boost In-House Real-World Evidence (RWE) Capabilities, Survey Finds

BOSTON, June 28, 2018 /PRNewswire/ -- Biopharma companies are investing more than ever in real-world evidence (RWE) to drive drug development, meet regulatory requirements, articulate the economic impact of their products, and support outcomes-based contracts, among other objectives. However, they are increasingly shifting those investments internally including a focus on new talent and platforms that support RWE capabilities across the enterprise from R&D through commercialization. These are some of the key findings in the latest "Deloitte 2018 Real-World Evidence Benchmark Survey," published today.

In its second annual RWE study, Deloitte surveyed executives from 20 global biopharma companies to understand the value, adoption, outlook and current challenges using RWE. It is the application of real-world data (RWD) from electronic medical records, insurance claims, genomics, wearables, and other sources to evaluate clinical practice and health outcomes.

The survey found that almost all companies (90 percent) are investing significantly in bringing RWE capabilities in-house and applying it across the entire product lifecycle, including new applications. The top applications for RWE include supporting value-based contracting arrangements, regulatory submissions, and improving clinical trial design and execution. However, only 45 percent of companies surveyed currently have capabilities mature enough to leverage RWE to achieve these goals today.

"The study confirms that insights from real world health care data are central to biopharma companies' future success as the industry shifts toward a value based, personalized paradigm," said Brett Davis, ConvergeHEALTH general manager and principal, Deloitte Consulting LLP. "This has significant implications for their operating models, external partnering strategies and enterprise technology platforms."

Two of the biggest increases in investment will be in talent (30 percent increase) and new technology platforms (25 percent increase). Artificial intelligence and machine learning, in particular, were identified as critical for capitalizing on the data to derive insights such as identifying patients with undiagnosed or underdiagnosed diseases, the research found. While only 60 percent of surveyed companies currently use AI/machine learning, almost all (95 percent) expect to use it for RWE in coming years.

"The pace of innovation in the cloud, big data and AI communities is accelerating and life sciences companies have just begun to apply these approaches to health care data," said Dan Housman, managing director, Deloitte Consulting LLP and CTO of ConvergeHEALTH.  "We are seeing exciting new applications of AI/ML approaches on RWD to derive novel insights into health and disease. As health care data continues to explode, and companies' access to larger and more diverse sets of RWD increases, these models will only get better and impactful."

Changing data landscape
Another interesting finding was an increased use of nontraditional real-world data, such as those from patient wearables, health apps and purpose-built linked data (for example, clinical data linked to molecular data). Evidence from these sources could provide greater insights on disease progression, treatments and patient benefits.

This changing data trend also creates new opportunities for partnerships with health systems, patient advocacy groups and others in creating new ways to procure data. While less than 60 percent of surveyed companies currently use these data sources, several plan to increase their use in the next 12-18 months.

Barriers to adoption
Perhaps the biggest barriers to adopting RWE have been in garnering buy-in both internally and externally, the research found. Three-quarters of surveyed companies said lack of receptivity by health care providers and payers was a major barrier to developing their RWE capabilities. Similarly, 70 percent cite lack of support from executive leadership and other internal stakeholders as impeding RWE development.

The third most cited reason (64 percent) was lack of access to external data.

"Of the three barriers, buy-in from executive leadership will be the most critical driver of broader adoption of real-world data across the enterprise," Davis said. "External stakeholders will become more receptive through transparent communication and new collaborative models for engagement. Strategic partnerships will help solve data access issues. The key for biopharma companies is to establish end-to-end RWE management strategies supported by the right talent, platforms, partnerships and operating models."

To learn more about these and other findings from the study, click here.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including more than 85 percent of the Fortune 500 and more than 6,000 private and middle market companies. Our people work across more than 20 industry sectors to make an impact that matters — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. 

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

SOURCE Deloitte

Related Links

http://www.deloitte.com/us