New Study Presents Current Picture of Real World Evidence Generation in Pharmaceutical Industry

CHAPEL HILL, N.C., July 20, 2018 /PRNewswire/ -- Real World Evidence (RWE) generation is vital for producing the health outcomes and safety data that payers are using to drive formulary and reimbursement decisions.

However, as pharmaceutical companies take steps to improve their RWE capabilities and utilization of RWE vendors, they are challenged to manage the complexities of RWE generation as well as how to identify the right vendor to work with.

A new Best Practices, LLC study, "Understanding Future Trends in the Changing Landscape of Real World Evidence Generation," delivers current insights on questions such as:

• What types of RWE study methods are pharma companies most often using?
• What data collection methods are being utilized for RWE generation?
• To what extent is pharma utilizing outsourcing for RWE projects?
• What characteristics identify the best vendor to use for RWE projects?

For this research study, Best Practices, LLC engaged a total of 25 pharmaceutical leaders in 19 companies involved with RWE generation.

According to the study, the top RWE vendor traits are Experience on Similar Studies, Scientific Expertise, and Prior Experience with Vendor; respondents identified these three vendor characteristics as the most valuable features they are looking for when evaluating vendors for the 16 RWE study methods examined in this research.

The study, which contains more than 1,000 metrics, has chapters devoted to these issues and RWE study methods:

• Overview of RWE Study Methods Utilization, Data Collection Methods & Outsourcing
• RWE Budget and Rationale for Outsourcing
• Economic / Reimbursement Studies
• Observational Studies
• Non-Safety Registries Studies
• Intervention Studies
• Extension Studies

Pharmaceutical leaders will be able to use the research results to compare their RWE programs with industry peers.

To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1504.htm.

For related research, visit the Best Practices, LLC Web site at www.best-in-class.com/. 

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis.

SOURCE Best Practices, LLC