Sunday, April 14, 2024

The Growing Significance of Real-World Data Acquisition in Modern Healthcare Marketing

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Contemporary healthcare marketing firms, backed by private capital, are increasingly focusing on obtaining real-world data (RWD) expertise to improve their services and expand their market presence. Private equity firms are the catalysts behind new commercialization platforms, which enable expansion through strategic acquisitions. RWD is an essential resource that aids decision-making at all stages, from steering campaigns and sales to demonstrating value-based care.

Leading private RWD providers such as Tempus, Komodo Health, and Concert AI have significant valuations, making their acquisition potentially expensive. In contrast, public providers are trading at lower values. The RWD market, currently fragmented, may see further integration with market access companies. This would bring together more patient and formulary data.

The swift development of artificial intelligence (AI) within the industry may encourage some platforms to invest in large data businesses. The growing demand for data-driven efficiency in healthcare marketing also underscores the importance of RWD.

The utilization of RWD in healthcare marketing not only allows for better-informed decisions but also enables the demonstration of value-based care. This is particularly important in an era where the effectiveness of healthcare services is increasingly being evaluated based on outcomes rather than inputs.

Despite the high valuations of private RWD providers, the lower trading values of public providers present an opportunity for healthcare marketing firms. By acquiring these providers, firms can enhance their RWD capabilities, thereby strengthening their market position.

The potential integration of the RWD market with market access companies could result in a more comprehensive collection of patient and formulary data. This would further enhance the ability of healthcare marketing firms to make data-driven decisions.

The healthcare industry’s rapid adoption of AI and the increasing need for data-driven efficiency highlight the growing significance of RWD in healthcare marketing. As such, the acquisition and effective utilization of RWD should be a key focus for modern healthcare marketing firms.

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