Optum Applauded by Frost & Sullivan for Advancing the Use of Real-World Evidence by Life Sciences Companies and for Its Market-leading Position
With a legacy of industry leadership, Optum offers a compelling value proposition and innovative solutions that effectively address market gaps, underpinning its sustained success.
SAN ANTONIO, Aug. 23, 2023 /PRNewswire/ -- Frost & Sullivan recently assessed the landscape for real-world evidence (RWE) information technology (IT) solutions for the healthcare industry and, based on its research results, recognizes Optum with the 2023 North American Company of the Year Award. The RWE division operates in the healthcare life sciences industry, with access to 285 million lives worth of deidentified real-world data (RWD). The division of Optum focused on RWE IT solutions specializes in real-world data, health economics and outcomes research (HEOR), epidemiology, and commercial analytics. The company has worked with RWE for over 25 years and offers a long-term perspective to maintain sustainability, thus providing information to regulators, providers, payers, and patients. The company aims to make healthcare simpler and more effective by transforming evidence into action.
The combination of claims and EHR data, an expanding incorporation of genomic insights, and a continued emphasis on RWE and diversity, make Optum the partner of choice for biopharmaceutical (biopharma) companies seeking to create higher-value treatments while accelerating their time to market. The company is leading life sciences innovation and healthcare impact through consistent messaging, consulting services that leverage RWD assets, investments in new technology, stakeholder engagement, and portfolio development. The company applies high-quality RWD, clinical trial diversity, sustainable innovation, and medication adherence to generate evidence and help leaders make impactful decisions.
"Optum's ongoing investment in clinicogenomics and distinguished capabilities, such as the Digital Research Network, Prospector, and True Source, reflect its commitment to satisfy evolving industry needs. It is a trusted partner with a reputation for offering the overall best RWE IT healthcare solutions," noted Unmesh Lal, Senior Industry Analyst, Healthcare at Frost & Sullivan.
Optum delivers use case-specific capabilities and data, prioritizes value, and emphasizes smarter decisions to assist clients in developing higher-value medicines and quickly bringing them to the market. Optum's Clinformatics® Data Mart comprises adjudicated medical and pharmaceutical claims for more than 77 million lives, and its electronic health records (EHRs) provide clinical details from Integrated Delivery Networks for over 112 million lives. Optum is uniquely situated to help manufacturers design, execute, and adjudicate value-based contracts by assessing the fit, developing metrics, and tracking care outcomes over time. The company is differentiated in the industry based on its ability to bring diverse data types together and view the entire patient journey rather than simply a snapshot.
Ojaswi Rana, Best Practices Research Analyst, Frost & Sullivan, added, "Optum's research-ready RWD fuels RWE, distinguishing it from other market participants. It links claims and EHR data into Market Clarity–a single dataset with over 76 million lives–incorporating the benefits of both datasets to provide visibility into utilization and clinical outcomes from one point."
Each year, Frost & Sullivan presents a Company of the Year Award to the organization that demonstrates excellence, in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership, in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Optum
Optum is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. With more than 215,000 people worldwide, Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of UnitedHealth Group (NYSE: UNH). For more information, visit optum.com.
SOURCE Frost & Sullivan
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