New Pharmaceutical Industry Study Examines Roles and Responsibilities of Medical Affairs Groups in Executing Real World Data Programs

CHAPEL HILL, N.C., Aug. 25, 2017 /PRNewswire/ -- Pharmaceutical companies are relying on their Medical Affairs function to oversee the collection and utilization of Real World Data (RWD) for informing key stakeholders on product effectiveness.

However, it is challenging for Medical Affairs groups to harness relevant information from huge data sources such as electronic medical records, clinical trial data, and patient behavior data. Equally difficult is the task of assimilating this information in a way that presents a clear outcomes picture that can be used to inform external stakeholders such as payers and physicians about a product's attributes.

To help medical leaders tackle this sprawling task, research and consulting leader Best Practices, LLC undertook benchmarking research to better understand Medical Affairs' roles and responsibilities in executing Real World Data programs, and the key performance indicators organizations use to measure the success of a RWD program. In addition, the research project examines current and future uses of RWD, barriers to success and the pros and cons of various forms of RWD and lessons learned in utilizing it.

The study found that Medical Affairs can help drive RWD use by leveraging deep payer and KOL relationships, and should create collaborative Real World Data teams that are tasked with supporting product development and product management teams.

The 88-page report - Real World Data and Medical Affairs: Best Practices in Maximizing its Use and Producing Results - provides medical leaders with a current picture of Medical Affairs' role in the collection, generation, analysis and dissemination of Real World Data.

Key topics addressed in this new report include:

• World Data Governance
• Medical Affairs Role
• Key Performance Indicators and Publications
• Sources of Data
• Current Use of Real World Data
• Future Use of Real World Data
• Barriers to Use of Real World Data
• Pros & Cons of Forms of Real World Data
• Lessons Learned

For this study, Best Practices, LLC engaged 28 leaders from 23 biopharmaceutical companies through a benchmarking survey.

To learn more about this report, download a complimentary report excerpt at http://www.best-in-class.com/rr1461.htm.

For related research, visit our 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.

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SOURCE Best Practices, LLC