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Real world data is changing the pharma industry and allowing companies to maximize value while minimizing the time and money spent. In addition, technology is evolving, and new methodologies are being developed, all of which contribute to the change. However, we still need to work on things such as diversity and inclusion.
In this episode of Real World Talk, we are joined by Karla Feghali of Deloitte. Karla discusses the recent report her company published and the impact it has on the space.
In addition, Karla and our host Zoe Li discuss the latest data-related trends in the pharma space and what it takes for pharma companies of all shapes and sizes to rebuild trust in underserved populations and introduce them to drug discovery studies.
[00:39] Introduction — In the first minute of the podcast, Karla explains how the idea of Deloitte reports came about. She discusses her role and what led pharma companies to become interested in the surveys her company conducts.
[13:36] AI can improve our industry, but we must learn about its capabilities and limitations — Artificial intelligence and machine learning seem like buzzwords, but they are not. On the contrary, they carry a lot of potential, but companies must acknowledge that AI and ML are not magic wands that will solve every problem in the blink of an eye.
[18:28] We must use various data sets to create a 360-degree picture — Such an approach includes data from various aspects of a patient’s life, such as socioeconomic status, purchasing habits, and power. Combining these, Karla says, helps companies create better models for determining how to best target and approach different patient populations and improve trial diversity.
[20:51] But, if we want trial diversity, we must bring it to the table — It goes without saying that you must initiate the conversation if you want inclusion. There are a considerable number of unserved or underserved populations. But change is a two-way street. Pharma industries (and society in general) must make the first move and build or rebuild trust with these groups.
[11:15] We must be able to use data to help patients go through the treatments as smoothly as possible — The pharma industry uses data to improve drug discovery. But the trials must be based on the notion that it’s our job to meet patients where they are and enable them to continue with their lifestyle despite the treatment and not force them to change it because they have to fight the disease, explains Karla.