Pharmaceutical/Biotech/Medical Device Commercial Companies
Clinical trials conducted by a life science company are an expensive proposition. Patient data collection conducted in a timely and efficient manner has a major impact on the total dollars spent in bringing a product or device to market. Clinical development teams are looking for a more efficient method of data collection than is possible with the traditional patient diary model.
In addition, many clinical trials are plagued by a lack of patient adherence to the medication being studied. Adherence rates are higher in controlled studies than in other clinical settings, but rates still donít reach 100%. In fact, some studies suggest that patient adherence in clinical trials is often only 60% to 75%. A dosing study unable to confirm at least 95% adherence to the prescribed recommendation would pose a serious threat to research.
MedAdherence has offered solutions to the clinical development teams at some of the largest pharmaceutical, biotech, and medical device companies in the industry. In addition, we are also working with the clinical/commercial groups who bring these new products to the market. Our platform can help life science companies meet the strict regulatory requirements associated with specialty biologics, which require advanced monitoring or Phase IV Risk Mitigation Strategies.
It is estimated that pharmaceutical companies lose over $30 billion in revenue each year as a result of medication non-adherence. By improving medication compliance, MedAdherence helps to increase the efficacy of pharmaceutical products, as well as their utilization by as much as 15%. Simultaneously, increased utilization has been shown to reduce other healthcare utilization by 40%, and to reduce serious medical events like asthma attacks, increased blood glucose levels, and hospitalization costs associated with long-term schizophrenic patient care.At MedAdherence, we believe our solutions will pave the way forward for medication compliance:
Product marketing managers face a number of challenges. First, operating in a constrained regulatory environment that requires a number of disclosures and privacy obligations is a delicate balance. Second, how do you really know if the marketing investment you are making with physicians and patients will reinforce the brand image you want them to have for your product? Finally, how can you help to create an environment that bridges the physician/patient communication gap that exists in the marketplace today?
MedAdherence captures patient responses and adherence information, monitors feedback, medication usage, adverse reactions, and prescription history, and feeds the data back to the provider. Our platform strictly enforces all privacy and security regulations, including those defined by the Health Insurance Portability and Accountability Act (HIPAA). Our solutions can link to and enhance any of your existing physician/patient initiatives. Contact our brand consultants at 1-888-RxTake1 or firstname.lastname@example.org to learn more about our success in commercial life sciences.