Drug companies need new proficiencies in data analysis to offset the risks to reimbursement. The risks arise from pharma's loss of exclusive control over outcomes data, says Ernst & Young in its 82-page Progressions: Pharma 3.0 report.
Health IT and healthcare reform are dealing a one-two punch to existing pharma strategies, according to the consultancy. Personal health records, smart phone applications, and other technologies give patients a bigger role in managing their healthcare at the same time that government and payers are providing incentives for them to become more involved.
Pharma companies need to get in step with hospitals and payers, which are now mining electronic health records for correlations between prescribing patterns and patient outcomes. And they must adopt a health-outcomes delivery business model in place of the existing drug-development model.
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