Unlock the Potential of Real World Data in Healthcare

Data Collection from Diverse Sources

The availability of data from various sources such as electronic medical records, medical images, and wearables has significantly expanded. This wealth of information allows for a more comprehensive understanding of patient conditions and health trends. For example, medical images can provide detailed visual information about a patient's internal organs, helping doctors make more accurate diagnoses. Wearables, on the other hand, can continuously monitor a patient's vital signs and activity levels, providing real-time data that can be used to assess overall health and detect potential issues early on.

In addition to these sources, the ability to collect data from devices and diagnostics has also become crucial. These tools can provide specific measurements and readings that add to the overall data pool. By combining data from all these sources, healthcare providers can gain a more holistic view of a patient's health and make more informed decisions.

Data Management and Transformation

Data management technologies, AI tools, and bioinformatics platforms are playing a vital role in transforming the way data is handled. These technologies enable more efficient data collection, processing, and analysis. AI algorithms can quickly sift through large amounts of data and identify patterns and trends that might otherwise be overlooked. Bioinformatics platforms, on the other hand, are specifically designed to handle biological data and provide tools for analyzing and interpreting it.

For instance, AI-powered diagnostic tools can analyze medical images and provide accurate diagnoses in a fraction of the time it would take a human doctor. This not only saves time but also improves the accuracy of diagnoses. Bioinformatics platforms can also be used to study genetic data and identify potential genetic markers for diseases, leading to more personalized treatment plans.

Sharing Data for Collaborative Research

The ability for institutions to share data has far-reaching implications for various aspects of healthcare, including drug development, clinical trial recruitment, and companion diagnostics. Aggregated RWD is particularly useful as it can address the shortcomings of randomized clinical trials, which often take a long time to recruit targeted patients. By using aggregated RWD, drug developers can model outcomes more accurately and make more informed decisions about drug development.

However, for data to be easily shared and facilitate collaboration, it needs to be aggregated, structured, and standardized. Custodians of RWD, such as health systems and labs, are exploring avenues for data monetization while also ensuring the privacy and security of the data. An effective federated data access model is essential in this regard, as it enables connections between healthcare data custodians and potential data consumers, providing greater flexibility, access, and control.

The Role of Federated Data Models

Datma's white paper, "A New Paradigm for Healthcare Data Monetization," highlights the evolution of data monetization models and revenue models aligned with custodian interests. A federated data model allows healthcare data custodians, such as health systems and labs, to connect with potential data consumers, such as pharmaceutical companies and research institutions. This model offers greater flexibility, as it allows data to be shared and accessed only when needed, while still maintaining control over the data.

For example, a pharmaceutical company can access relevant RWD from multiple health systems and labs through a federated data model. This enables them to conduct research and develop new drugs more efficiently. At the same time, health systems and labs can benefit from data monetization by licensing access to their data and receiving monetary benefits from data consumers.

Unraveling the Complexities of Sustainability in a Changing World

First Stance: Sustainability as a Core Business Opportunity

Start-ups, private-capital investors, and incumbents are pivoting to scale up new clean technology, seeing sustainability as a core business opportunity. Investors are becoming more discerning, focusing on "deal origination" rather than funding shortages. Many startups are exploring blended finance and carbon markets to overcome capital scarcity. Some recent failures are seen as execution issues rather than flaws in the business idea.

For example, a startup in the renewable energy sector faced challenges in securing funding initially. But by leveraging blended finance mechanisms and focusing on derisking execution, they were able to attract investors and bring their projects to fruition. Another startup in the carbon capture industry is looking to carbon markets as a bankable source of revenues to support their ventures.

Second Stance: Struggles in High-Emitting Industries

Companies in high-emitting industries like oil, gas, and power, as well as hard-to-abate sectors like steel and aviation, face difficulties in making business cases for deploying new climate technology. They need to rethink business models and partnership approaches to continue reducing emissions.

For instance, an oil company is exploring carbon capture technologies but is struggling to justify the investment based on their current hurdle rates. By collaborating with research institutions and startups, they are trying to find innovative solutions that can make the technology more economically viable and help them meet their decarbonization goals.

Third Stance: Committed to Meeting or Exceeding Commitments

Some companies are committed to meeting or exceeding their previous sustainability commitments. They strive to be leaders in their sectors, responding to customer and employee needs. However, they often face challenges such as geopolitical developments and regulatory changes that can derail their progress.

Take a manufacturing company that had set ambitious sustainability goals. Due to regulatory changes, they had to reevaluate their plans and invest more in compliance measures. By taking an honest look at their emissions footprint and resourcing, they were able to get back on track and continue making progress towards their goals.

Regardless of their stance, companies need to reevaluate their positions, rethink their strategies, and communicate their plans publicly. It's time for a major refresh with a scenario-based approach for the future. They need to accelerate on committed plans while keeping other options viable.

Accelerating Cost-Competitive Climate Technologies

Identifying and scaling up new climate technologies is crucial for companies. While renewables have scaled up, many other technologies are just starting to move from labs to commercial scale. Industrializing these technologies is imperative given their attractive economics and potential to accelerate the transition.

For example, a company working on hydrogen technology is focused on accelerating its deployment. By demonstrating the prototype in an operational environment and reducing unit costs through scaling, they are attracting financing and securing offtakes. Another company is investing in long-duration energy storage to meet the growing energy demand while reducing carbon emissions.

Executing on In-the-Money Technologies with Rigor

For companies that have advanced to the scaling phase, operational and commercial execution is a frequent challenge. Derisking execution requires the same effort as derisking the business case and consistent application of best practices.

Take a company in the smart microgrid industry. They are focusing on speed of execution, driving down unit costs, and locking in offtake agreements. By having teams with prior experience and following best practices in supply chain and operations, they are able to scale up their technology successfully.

In conclusion, the sustainability landscape is constantly evolving, with companies facing various challenges and opportunities. They need to be strategic, collaborative, and embrace digital tools to accelerate action and meet their sustainability goals. The clock is ticking, and true leaders will emerge stronger by taking decisive actions.