Way back in 2010, Bob Kyle and I started tinkering with post marketed drug safety data as a means to improve patient outcomes and lower health system costs. We didn’t know at the time if we could build a usable product, let alone launch a successful business. We were infinitely more concerned with data access and optimization, basic analytic tools, and website design than we were with the marketing or branding of our fledgling project. So when we did a search for available domain names and saw that "www.AdverseEvents.com" was available, we grabbed it. There was zero forethought about the name and for the first year we couldn’t even decide whether the company’s official name was Adverse Events or AdverseEvents (we ultimately settled on the later). This hastily conceived name served its purpose and ticked key branding boxes for us – it was descriptive, had an easy to remember URL, and was provocative. Potential clients and the media understood who we were and what we did right from the get-go.
But, as so often is the case with success, things change. Over the past five years we’ve grown from a concept, to an actual product, to an actual company with employees and clients, to an actual company with lots of employees in three locations serving up multiple product offerings across varied market segments. While many, many things changed during that growth, one thing did not – our name. That changed this week. On Tuesday we announced that AdverseEvents is now Advera Health Analytics.
The decision to change our name was an easy one. The same qualities that made our name helpful in the early days had come around to restrict us as we grew. We knew – and heard from clients and prospects alike – that the AdverseEvents name was actually too descriptive and too limiting for the enterprise markets we now serve. And most importantly, the name no longer fit with the scope of products and services that the company offered.
Deciding to change the name was easy, but actually choosing a name and then affecting a re-branding of an operating company was a whole lot harder. We went through a laundry list of bad name choices (which will forever remain locked in a digital vault) before setting on Advera Health Analytics. Now, I could lie and tell you that the choice of name was the result of an expensive marketing study or a comprehensive survey of clients’ wants and needs, but the truth is a little more basic. Bob Kyle thought it up and proposed it to Jim Davis and me over beers one night in Boston. Jim and I both said exactly the same thing – “Advera…you know, I don’t hate it.” And after passing out sleeping on it for a night all three of us woke up the next morning feeling strongly that we had found our new name.
Advera – which in latin means ‘to truth’ - both honors the company’s origins of mining adverse event data for actionable drug safety intelligence and accurately reflects the company’s expanding scope of products, services, and markets we serve. There are a lot of other reasons and rationale for the name change and what it means for our business. Feel free to read all about it in the press release we put out on Tuesday, but all you really need to know is that our commitment to our original mission remains the same – in a world where information is everything, and nothing without the right tools to access and analyze it, we are re-defining drug safety by providing real world data, analytics and insight.
We will continue to work to integrate the insight gleaned from the treasure trove of drug safety data into our healthcare system so that every doctor, pharmacist, insurer, hospital, and health system is prescribing or approving medications knowing their complete safety profiles and downstream medical costs.
We continue to believe that drug efficacy and safety go hand in hand in ensuring the overall well-being of the U.S. population. And we will continue to dedicate ourselves to ensuring that all safety aspects of prescription drugs are considered prior to their prescription. To join us in our public policy efforts click here. The more data, the more analysis, the more insight – the safer the prescription drug market will be.
I want to say a big thank you to our staff for helping to shepherd this changeover and for exercising an amazing amount of patience during a long and sometimes trying process. The good news is that we stuck to the old name for a good five years – and we certainly plan to do the same with the new one. Unless things change again….and they always do!
Until then, welcome to Advera Health Analytics!
Check us out online at www.AdveraHealth.com