Unlocking the Potential of Real-World Evidence in Healthcare: Challenges, Innovations, and the Future

Real-world evidence (RWE) holds immense potential for improving patient outcomes and optimizing treatment plans. However, realizing this potential comes with its own set of challenges. In a recent episode of the HealthBiz Podcast, Dan Riskin, CEO of Verantos, a company focused on providing high-validity RWE at scale, discusses his journey from an early interest in healthcare and technology to becoming a leading figure in the field.

Starting with an exploration of RWE, Riskin shares his involvement in health policy, his work with Health Fidelity and Dock Dock, and the founding of Verantos. The company aims to provide high-validity RWE at scale, addressing the challenges of using routinely collected data in healthcare. The fear is that poor data quality could lead to incorrect treatments and patient harm.

The FDA plays a crucial role in setting the framework for RWE, ensuring that it meets high standards of accuracy, completeness, and traceability. However, achieving high-validity RWE can be difficult and expensive. Riskin emphasizes the importance of AI-based inference in improving the accuracy and insights provided by traditional natural language processing (NLP) in RWE.

The conversation then shifts to the pharma tech side of the industry, with a focus on efficiency and a path to profitability. Riskin highlights the need for a global perspective in healthcare, learning from every patient interaction, and leveraging technology, data, and compute power to create tailored treatment plans.

Finally, Riskin touches on the influence of science fiction on technological advancements in various industries. This passion for science fiction and innovation drives Riskin and others in the healthcare industry to push the boundaries of what is possible with RWE and AI, ultimately working towards a better world through healthcare.

As the world continues to evolve and embrace technology, understanding and harnessing the potential of real-world evidence in healthcare is essential for improving patient outcomes, optimizing treatment plans, and driving innovation. By tackling the challenges head-on and leveraging the power of AI, companies like Verantos are paving the way for a brighter future in healthcare.

To learn more about Dan Riskin's insights and experiences in the world of real-world evidence, listen to the full episode of the HealthBiz podcast. And if your organization is seeking strategy consulting services in healthcare, visit healthbusinessgroup.com.