And the haters gonna hate, hate, hate, hate, hate

Baby, I'm just gonna shake, shake, shake, shake, shake

I shake it off, I shake it off

- Taylor Swift, "Shake it Off"

 

Before I subject myself to ridicule from my peers, my wife, and my friends, who know me more of a Grateful Dead fan (if you didn’t know you can stream Barton Hall ’77 from archive.org) than one of pop music, let me just say that I swear I don’t make a habit of getting down with Taylor. I swear. Really. But for some reason, the poetic, well written Shake it Off stays with me.

As more and more clients in managed care and health system pharmacy come aboard, we are starting to have more interactions with pharmaceutical companies who are interested in understanding what data their key customers are using to make decisions.

Many of our interactions have been extremely positive. Right now, we are working with the health economics and outcomes research (HEOR) department at a large pharma, helping them to differentiate a new drug coming to market from its peers, using our new RxOutcome dashboard. The data are proving to be very insightful and should play a large role in the drug’s future launch. This client understands that payers are going to be looking for unbiased, independent, real-world data sets, and they have the foresight to proactively provide those data because they realize it is to their advantage both from a patient outcome and company financial standpoint.

 

Related Read: RxOutcome - A New Paradigm in Drug Safety

 

On the other hand, some of the interactions have been, let’s just say less positive. Our blog postings on the Hep C drug exclusivity deals, a comparative safety research report that we conducted, in addition to the AJMC panel we participated in garnered industry-wide attention. But, shortly after the second blog posting on the topic we received a “contact me” inquiry from a VP at one of the companies. When our Business Development Managers called back, the VP stated, “…I had some pretty strong feelings about your report, but I’ve decided to keep them to myself. I am going to end this call and don’t ever contact me again.”

 

Pharma's Gonna hate

And the haters gonna hate, hate, hate, hate, hate

I'm just gonna shake, shake, shake, shake, shake

I shake it off, I shake it off

 

You see, data doesn't lie and when you put that information out publicly, and it has the ability to disrupt drug sales potential, “hating” is bound to happen. I can’t even blame pharma for their “turn a blind eye” reaction. It is the last industry standing where asynchronous information still exists in the buyer/seller relationship. Think used car sales in the 1980’s. The day that the buyer has all of the information, the seller’s advantage dissipates, and with all of the pressure most pharma companies are under to perform, they just can’t afford to lose an advantage.

That all being said, the organizations that can stop “hating”- the ones that are progressive and forward thinking, that can adopt new ways of looking at old problems, that refuse to let the status quo get in the way- will be the ones well positioned when all drug information is transparent. And that day is coming soon, as technology, data mining, governmental pressure for better, more accessible drug data and the sophistication of the general public continues to evolve. Those companies that recognize that data doesn’t lie, and utilize sophisticated analytics and insight to improve their products, will be the ones that not only understood what payers need and want, but took the first, necessary steps to align with them. They will beat their competition with safer, more effective and cost conscious alternatives. They will be the market leaders, while the others will still be trying to play catch up.

 

Related Read: The State of Drug Safety Systems

 

In the meantime, we will keep innovating new ways to use the unbiased, independent, real world data that AdverseEvents Explorer is built on. We have just launched our new dashboard, RxOutcome. It is a module within our platform that allows for head-to-head comparisons of drug safety profiles. It was built based on feedback from managed care organizations and health systems who need to be able to fit these data into outcomes research and comparative effectiveness research models and frameworks.

I’m sure some in pharma will hate it, but fortunately there are some that already love it.

To see head to head comparisons of drug safety profiles in your formulary request a free trial of RxOutcome.

 

RxCost  Whitepaper Download  

 



Jim Davis

Jim Davis

Executive Vice President

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Jim Davis

Written by Jim Davis

As Executive Vice President, Jim is responsible for the commercialization strategy for Advera Health Analytics.