Verana Health Honored as Innovator in Real-World Evidence
Innovation is the driving force behind healthcare transformation, a powerful catalyst that can propel breakthroughs in drug development and patient care. Without innovation, many of the treatments that save lives and improve the quality of life for patients wouldn’t exist. Creating an environment that fosters the development of innovative solutions and products has always been a top priority for our company.
That’s why Verana Health is proud to receive a product innovation award from business consultancy Frost & Sullivan for our VeraQ® population health data engine, which transforms real-world data (RWD) into real-world evidence (RWE) for clinical researchers. Its powerful capabilities assist life sciences collaborators in generating RWE and new insights to support business strategies for clinical development, HEOR, medical affairs and commercialization teams.
Verana Health “uniquely leverages its expertise to meet current unmet market needs, cementing its leadership in the RWE solutions space.”
In recognizing Verana Health for its 2022 North America New Product Innovation Award, Frost & Sullivan writes that Verana Health “uniquely leverages its expertise to meet current unmet market needs, cementing its leadership in the RWE solutions space.”
Our company’s goal, since its launch in 2018, has been to support medical innovations by transforming structured and unstructured data into quality, curated datasets that help inform insights across the drug lifecycle. We’ve supported this process through our VeraQ engine and fit-for-purpose Qdata® modules, derived from de-identified medical registry electronic health records (EHR) data that aim to advance clinical research and support actionable business insights.
A robust ecosystem
The Frost & Sullivan report notes that Verana Health’s exclusive partnerships with three medical societies – the American Academy of Ophthalmology, the American Urological Association, and the American Academy of Neurology – have allowed our company to provide a “real-world data network of over 20,000 healthcare providers, approximately 90 million de-identified patients, and more than 500 million patient visits.”
“RWE IT innovators need the best EHR data providers in the space to ensure maximum data quality,” according to Frost & Sullivan. Verana Health’s “robust ecosystem pioneers using artificial intelligence, specifically natural language processing (NLP) and machine learning (ML), to extract insights from de-identified, unstructured data.”
Obtaining timely access to relevant, usable clinical data has long been a challenge for clinicians and medical researchers. Medical claims, for example, may not be accessible for several months, and although it covers exactly what was billed, may miss clinical nuance or patient outcomes.
Verana Health’s technology de-identifies, ingests, curates and analyzes data, providing access to near real-time insights throughout the drug development lifecycle. Our exclusive partnerships with leading specialty medical societies provides Verana Health’s clients with a direct connection to insights and analyses from a complex EHR data network that can be linked with other sources such as claims and imaging. Our tools for quickly curating high-quality RWD into real-world evidence (RWE) at scale can help generate relevant clinical data points for the patient journey, provide market insights and help identify potentially eligible patients for clinical trials.
A matter of values
We’re also gratified that Frost & Sullivan highlighted Verana Health’s commitment to working “closely with clients and partners to guide its product roadmap, developing robust, user-friendly solutions and continuously enhancing and adding features.” We believe collaboration is the key to genuine innovation.
Finally, we are pleased that Frost & Sullivan recognized that Verana Health “strives to ensure enhanced diversity” in clinical research by making insights on social determinants of health data available to researchers in order to help make clinical trials more inclusive and accessible to underrepresented populations.
This award is a testament to the strength of Verana Health’s vision and mission and to the hard work, expertise, talent, and determination of its employees. I want to thank the entire Verana Health team for its efforts.
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