Real-world data (RWD) is playing a vital role in healthcare decisions. Healthcare professionals are leveraging RWD to support coverage decisions and design guidelines that can be used in clinical practice. The healthcare sector has recognized the value of data as it has proved to impact the patient care process and provide cost savings through data analytics. Data insights can drive improved patient outcomes and can also enhance patient safety.

What are real-world data and its foundations?

Real-world data are data associated with patient health status and the delivery of healthcare. This data is collected from various sources such as;

  • EHR software solutions and Electronic Medical Records (EMR) Software
  • Patient billing activities
  • Patient-gathered data
  • Product disease registries
  • Data from other sources such as wearable sensors and mobile apps

Benefits of real-world data in healthcare

Real-world data is a treasure trove that can help in the following,

  • Clinicians can have a better understanding of different patient journeys, patient treatment processes, and the overall effectiveness of medications and drugs. Some diseases have multiple treatment options and have not been compared in a clinical trial. In such cases, real-world data can be used to see which medication works the best.
  • RWD helps in effective drug development programs.
  • Real-world data can help physicians have a better understanding of patients and their body reactions and responses to treatments and surgery. Leveraging data with predictive modeling can help explore outcomes with minimum trial error. Pharmacies and healthcare services can work together to get the right medicine for the first time.
  • RWD can also identify in which area patient care has the potential to be improved and how tools for patient education can be developed.
  • Real-world data helps to support the doctor’s accurate decision-making process.
  • The power of RWD can help payers to understand healthcare costs. Payers are using real-world data to find out which medications may decrease healthcare costs.

Moving ahead

Turning to real-world data has assisted drug producers, healthcare providers, and insurance companies to help answer queries that may not be assessed in clinical trials. Real-world data is a way forward in healthcare to provide high-quality patient care and make informed care decisions, ultimately enhancing patient outcome levels.