NEW YORK, November 19, 2015 /PRNewswire/ --
Informa's Business Intelligence division and Real Endpoints (RE) have formed a new partnership that will enable biopharma companies to gain greater understanding of health care plans and payers, and enhance the reimbursement potential of their products. The agreement allows Informa to deliver intelligence on another critical dimension of drug development and commercialisation, in the form of RxScorecard™, a unique market access tool from Real Endpoints that will provide new customer insight to Informa's global pharma and healthcare intelligence clients.
RxScorecard is a web-based tool used to score the relative value of competitive marketed and pipeline drugs to support clinical trial design and market access activities such as formulary coverage and contracting. The tool lets users define and demonstrate the true value that their treatments bring to patients, using a sophisticated algorithm to score and compare drug products on over 30 metrics for efficacy, safety and economics. The scoring is completely transparent and evidence based; the methodology reflects years of experience with payers. The interactive dashboard enables drug developers to focus trial design, regulatory and reimbursement efforts with the payer perspective in mind.
One of the significant benefits of RxScorecard is its customizable scenario capabilities: users can model a range of metric weights based on different assumptions and business goals, together with a customer's own non-public data, to instantly create dozens of potential scenario outcomes reflecting changes in key elements of value, such as outcomes, trial structure and cost-offset studies.
This partnership will allow RE to more quickly expand disease indication coverage and also benefit from access to the intellectual property of one of the world's largest pharma and healthcare business intelligence companies.
"Increasing pressure on the pharmaceutical industry has come from higher regulatory and payer scrutiny, changing healthcare systems and rising costs," explains Linda Blackerby, Head of Pharma & Healthcare within Informa's Business Intelligence division. "Tough decisions have to be made throughout the drug development process and RxScorecard will provide our customers with a key intelligence tool to ensure they can maximize their reimbursement potential as they design their trials and approach payers."
"US Health spending has flattened out, with one exception: the exploding cost of specialty pharma drugs," adds Blackerby. "For the first time, these specialty drugs have caused payers to provide laser-focus evaluation on which drugs they cover. Up until now, there have been poor tools for this purpose. RxScorecard provides an ingenious solution, enabling transparent apples-to-apples drug comparisons, and it will be transformative in helping our customers develop highly successful market access strategies".
According to Real Endpoints CEO, Roger Longman, "We're delighted to have entered this partnership with Informa's Business Intelligence division. We know the extraordinary quality and value of its products first hand and its focus on providing value to customers. With pricing and market access the top challenges for biopharma going forward, this collaboration should give Informa customers a virtual one-stop-shop to support critical development, launch, pricing and access decisions."
About Informa's Business Intelligence Pharma and Healthcare vertical
We help the world's largest and fastest-growing businesses make confident, commercially astute decisions in a dynamic market. From drug and device discovery and development to regulatory approval, and from product launch to lifecycle management - pharma companies need to make confident decisions in a fast-changing market.
Informa Pharma and Healthcare is the trusted partner of all of the top 50 global pharmaceutical companies and the top 10 contract research organisations - providing timely intelligence and insight to help them make better decisions.
Real Endpoints complements Informa's existing best-in-class pharma and healthcare business intelligence brands. These include: Sitetrove, Trialtrove, Pharmaprojects, Datamonitor, BioMedTracker, Medtrack, Scrip, The Pink Sheet, In Vivo, and Strategic Transactions.
Informa operates at the heart of the Knowledge and Information Economy. It is one of the world's leading business intelligence, academic publishing, knowledge and events businesses. With more than 6,500 employees globally, it has a presence in all major geographies, including North America, South America, Asia, Europe, the Middle East and Africa.
About Real Endpoints
Real Endpoints LLC is an information and analytics company focused on the changing world of pharmaceutical reimbursement. It operates at the critical intersection between payers, at-risk providers, and medical product companies, by developing and delivering the must-have information and services these stakeholders need to compete successfully, offering data-derived insights that speak directly to the perspectives of its customers.
RE's goal is to support the process of innovation by helping its customers improve the quality and cost of the services and products they provide, deliver improved health outcomes and realize greater value as a result.