ConvergeHEALTH Miner™: Data and analytics at scale in the life sciences industry has been saved
ConvergeHEALTH Miner™: Data and analytics at scale in the life sciences industry
Designed to meet the growing demands for data, insights, and evidence across the entire product life cycle
How do life sciences companies turn real-world data into insights and other digital health data that can drive more value for their organizations? ConvergeHEALTH Miner™ is an award-winning platform transforming how medical innovations are developed, commercialized, and reimbursed. Explore how ConvergeHEALTH Miner is generating value across the entire product life cycle.
2020 Real-world evidence study
Companies that have invested in mature RWE capabilities are seeing returns; others are behind. Results from Deloitte’s third RWE benchmarking study reveal how companies still building their capabilities can catch up.
The life sciences industry is under tremendous pressure.
Macro trends that are disrupting the life sciences industry include:
Growing challenges in R&D and declining productivity
- Declining returns on R&D investments over the past nine years
- The cost of bringing a drug to market exceeds $2B
- For many therapies, trials are becoming more complex and time-consuming
Mounting pricing pressures
- Public scrutiny of drug pricing is at an all-time high
- Use of generics and biosimilars continues to grow
- Reimbursement model is transitioning to a more value-based model
Growing demand for evidence
- Payers are demanding the value of medicines be demonstrated in a real-world setting
- Manufacturers are leveraging data and analytics in almost every aspect of their businesses
- Regulators are encouraging the incorporation of real-world evidence in decision-making
An end-to-end evidence generation capability is becoming critical to the future success of the industry and must address four fundamental challenges:
- How do we effectively manage all of this disparate digital health data?
- How can we rapidly generate insights from them?
- How can we empower more stakeholders to leverage data and insights?
- How do we act on these insights to drive decision-making?
…And how do we do this at scale?
Miner Access Suite
ConvergeHEALTH Miner Access Suite is an integrated and intuitive suite for overall pricing and reimbursement decision support at scale. Deal and pricing analytics leverage overlapping data elements and interoperability to create a decision support tool for pricing and reimbursement.
With the ConvergeHEALTH Miner Access Suite, data science is used within an integrated platform that helps organizations define and anticipate the impact of contracting and pricing relationships. This enables increased access and improved outcomes through the following modules:
1. Deal analytics:
● Pre-deal modeling: Enhanced use of third-party data and AI techniques to enable robust predictive capabilities and meaningful benchmarks to clarify business decisions related to managed care contracting decisions
● Post-deal monitoring and analytics: Application of data-driven analytics to understand the root cause of contract performance, enabling real-time market moves
2. Pricing analytics: Management of the pricing adjustment intricacies in light of contractual agreements and state price transparency laws
3. Value-based analytics: Streamlining the operational complexities of value-based agreements, enabling implementation of these new agreements at scale
Learn about our state price transparency solution within ConvergeHEALTH’s Miner Access suite.
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