Have you heard about recent advances in artificial intelligence (AI) and the explosion of services like ChatGPT into the mainstream? At Mtech Access, we are really excited about the opportunities these services offer for greater efficiencies, new innovations and, ultimately, improved patient access. Whilst there are limitations with these new technologies, particularly in the complex world of pharmaceutical reimbursement, there is also cause for excitement. AI offers us the opportunity to do things differently, tackle current challenges and overcome existing barriers.
Our teams are currently experimenting with a number of ways we can develop and apply AI to our internal processes, project deliverables and digital tools. We are particularly looking at how we can overcome challenges around accuracy and privacy. For example, our developers are exploring the potential of integrating AI into our interactive Global Value Platform. We are also looking to see if we can use AI to generate accurate patient pathway information to drive pathway platforms.
Whilst our developers and market access experts develop and test this technology, we wanted to share with you a taster of the potential we’re seeing.
What is the potential of AI in market access and HEOR? – A response from ChatGPT
Artificial intelligence (AI) is rapidly changing the healthcare industry. It has the potential to transform market access and health economics and outcomes research (HEOR), which are critical to ensuring that new healthcare products and services are accessible, effective, and efficient. Market access and HEOR professionals can leverage AI to streamline their work and generate insights that were previously impossible to obtain.
Market access is the process of ensuring that new drugs, devices, and services are available to patients who need them. It involves working with governments, insurers, and other stakeholders to obtain regulatory approval and reimbursement. HEOR is the evaluation of the value of healthcare interventions by assessing their outcomes, costs, and benefits.
AI can help market access and HEOR professionals in several ways. First, it can provide faster and more accurate data analysis. AI algorithms can quickly sift through large amounts of data to identify patterns and trends that would be difficult for humans to detect. This can help market access and HEOR professionals to better understand patient needs and preferences, as well as the efficacy and cost-effectiveness of new healthcare interventions.
Second, AI can help to improve the quality of data used in market access and HEOR research. AI algorithms can identify and correct errors in data sets, and they can also provide missing data through imputation. This can help to ensure that the data used in market access and HEOR research is accurate and reliable.
Third, AI can help to identify patient subgroups that may benefit from new healthcare interventions. AI algorithms can analyze patient data to identify subgroups that are more likely to respond positively to a particular treatment. This can help market access and HEOR professionals to target their efforts more effectively and ensure that new healthcare interventions are reaching the patients who will benefit the most.
Finally, AI can help to improve the efficiency of market access and HEOR processes. AI algorithms can automate many routine tasks, such as data cleaning and analysis, freeing up market access and HEOR professionals to focus on more complex tasks that require human expertise. This can help to speed up the market access process and reduce costs.
Despite the potential benefits of AI in market access and HEOR, there are also challenges that need to be addressed. One of the biggest challenges is ensuring the quality of the data used in AI algorithms. Garbage in, garbage out is a common problem in AI, and it is particularly critical in market access and HEOR research. It is essential to ensure that the data used in AI algorithms is accurate, reliable, and representative of the patient population.
Another challenge is ensuring that AI algorithms are transparent and interpretable. Market access and HEOR decisions are often subject to scrutiny and require transparency. It is essential that the decision-making process of AI algorithms is understandable and explainable to humans, particularly to regulatory agencies.
In conclusion, AI has enormous potential to transform market access and HEOR. AI can help market access and HEOR professionals to generate faster, more accurate insights, improve the quality of data, identify patient subgroups, and improve the efficiency of processes. While there are challenges that need to be addressed, the benefits of AI in market access and HEOR are clear, and we can expect to see continued growth in the use of AI in these fields in the coming years.
What do you think of ChatGPT’s response?
Could you tell it was written by AI?
In some ways it is impressive it can provide this answer, when given no other context on our industry. Yet there are certainly limitations around detail and relevancy. Any content generated in this way for market access purposes would need to be reviewed thoroughly by an experienced eye.
At Mtech Access, we are most excited to see if we can address these limitations by controlling the data fed to the AI brain.