Brigham Hyde, Chief Data OfficerThe life sciences industry today is experiencing a seismic transformation, traceable to the shift from volume-based analysis to value-based analysis, changes in regulatory policies, and the consolidation of both service providers and payors. Unlike other industries, data in the healthcare domain is characterized by its veracity and variety rather than volume or velocity. However, its exponential complexity with regard to taxonomy, nomenclature, and siloed system design has created interoperability challenges. Healthcare organizations therefore need effective methods to combine data to derive insights and facilitate decisions making. Combining disparate sources of healthcare data from Electronic Health Records (EHR), claims, and purchasing as well as wearable medical devices and mobile devices monitoring patient activity in an accurate manner is a key concern for healthcare providers looking for answers to the “big questions”.
Founded in the late 1990’s as a healthcare insight and advisory firm, Burlington, MA-based Decision Resources Group (DRG) has established its presence as a disease area expert by producing in-depth research-based market leading disease area reports. The firm has developed a strong niche in the market access (payer) domain by unifying its portfolio under the DRG brand that includes companies such as Pharmastrat, Fingertip Formulary, and Health Leaders-InterStudy. Over the years, DRG expanded its technology and analytics talent through tuck-in acquisitions, an expanded real-world evidence claims, and EHR presence under the new ownership of Indus/Piramal. The currently formed DR Group serves multiple stakeholders with industry leading data, insights, analytics, and consulting.
Insights are the backbone of a healthcare ecosystem and companies operating in this sector need high-speed custom analytics solutions that fit seamlessly with their existing workflow. “DRG has strong business interests in end-to-end custom analytics solutions that cater to the healthcare providers’ and manufacturers’ current needs and data workflow challenges,” delineates Brigham Hyde, Chief Data Officer, DRG. Additionally DRG’s business is organized around diverse customer verticals, for pharma, medtech, provider, payor and diagnostic companies.
DRG has strong business interests in end-to-end custom analytics solutions that cater to the client’s current needs and data workflow challenges
The firm offers analytics consulting around planning for product launch (Market Assessment), post market targeting and commercial optimization (Brand Commercialization), reimbursement, and customer access issues (Market Access), and more recently digital and social planning for marketing. DRG also serves hospitals, health systems, and insurance companies with the same premium level of insight, data, analytics, and consulting. “Although their business questions are different, the fundamental expertise, data, and methods is related and we provide our clients with a continuum of offerings to help solve their issues,” extols Hyde.
DRG partners with their clients to resolve unique challenges and supplement existing processes with expertise of service professionals. This package together drives greater insight and produces a sound analysis of today’s healthcare challenges. In addition, the company has developed a unique process for identifying innovation and promoting it throughout the organization. This process involves a dedicated resource for collecting data about new innovative ideas within the firm and granting recognition for participation in a successful innovation at different levels. DRG concentrates on translating their custom but repeatable engagements into productized content, which could be about creating new datasets, new methods of analysis, or new workflow tools for the clients.
Furthermore, DRG wants to continue focusing on their clients’ needs for analytics support powered by a team with immense drive for learning and exceptional problem-solving capabilities. “Our zeal to serve the clients is driven by problem solving and curiosity. We like problems, big ones, and can’t rest until they are solved,” concludes Hyde.