While oncologists may be cautious when it comes to using RWE in practice, their fluency with RWE will likely grow over time, as RWE becomes more prominent in product approvals and gains importance in value-based reimbursement models.
Former FDA commissioner Scott Gottlieb recently commented that the use of RWE in drug approvals is at an “inflection point” and will accelerate rapidly, because the agency now has both financial and regulatory obligations to demonstrate they are using practical data to answer regulatory questions.
RWE data is also being heavily used in value-based contract design. Among the life science companies that participated in Deloitte’s 2018 RWE Benchmarking Survey, 65 percent are using RWE in value-based contract design and support and the vast majority of respondents believe their organizations will increase the use of value-based contracts over the next 2-3 years.
The increasing use of RWE to demonstrate the effectiveness of a drug will likely influence oncology care in several ways. Real-world data that shows a treatment’s long-term cost and its ability to improve outcomes may be used in formulary placement decisions. Payers are also beginning to use this data to inform coverage decisions and price negotiations. Additionally, RWE may be used to develop guidelines and decision support frameworks in clinical practice.
Given that RWE is being adopted more broadly by key stakeholder groups, a deeper understanding of how this data is collected and wider use in clinical decision making will not only benefit oncologists in the future, but also enable them to provide more efficient and effective care for their patients.
For additional findings about how oncologists are using RWE, as well as research on the value of oncologists’ interactions with pharmaceutical companies, download a copy of the full report here.