Using Real World Evidence to Drive Affordability of Specialty Drugs
Created by: Brian Lederman
Modified on: Tue, 9 Feb, 2021 at 5:24 PM
How can specialty drug manufacturers drive affordability using RWE analytics?
Real World Evidence (RWE) is fast becoming a key differentiator in the crowded and competitive pharmaceutical landscape, and more so in the specialty drug segment. RWE refers to the evidence and insights gained from the observation of clinical outcomes in “real world” practice settings. The ability of pharma companies to capture this evidence and extract meaningful insight from it could deeply impact every aspect of the pharmaceutical value chain.
One RWE use case in particular which is gaining traction is in enabling pharmaceutical manufacturers to showcase value to payers in the specialty drug segment. Specialty drugs are the fastest growing driver of the pharmaceutical industry and represent one of the highest innovation areas in Life Sciences. Though specialty drugs constitute only a small fraction of all prescriptions, they are projected to constitute 50% of all pharmaceutical expenditure by 2018 (Source: “Drug Trend Report.” Express Scripts. 2015).
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