Medimix International: Real-Time, Real-World Insights

Medimix International: Real-Time, Real-World Insights

CIO VendorHenry Gazay, CEO
Pharmaceuticals have long considered randomized controlled trials (RCTs) as the gold standard in understanding drug efficacy. Only with the emergence of electronic health records (EHRs) and connected health tools did drug manufacturers see an opportunity to leverage real-world patient data to analyze their drug’s performance—both commercial and clinical—beyond a controlled trial.

Pharma’s foremost challenge as they revamp their market strategy is to find the right combination of technology and data science expertise to support the analysis of large volumes of real-world data, manage its complexity, and produce meaningful insights, while remaining compliant with pharmacovigilance. To this end, Medimix International was established to provide pharmaceutical, diagnostic, and medical device industries with advanced commercial analytics, business intelligence, strategy, and licensing solutions.

“Whether you are launching advanced drugs or trying to find new markets for your existing biotechnology, we provide real-world strategic insights to inform the best business decisions,” says Henry Gazay, CEO of Medimix. To realize this goal, the company provides their proprietary cloud-based platform, LiveTracker—a real-time product performance tracker that guides pharma companies in understanding the effectiveness of their drugs—monitoring and reporting patient journeys, physicians’ product preference, awareness of the product in the market, and other critical factors.

The LiveTracker system provides direct platform access to more than a million global healthcare professionals, with a monthly sample reporting information from patient records, including patient profile, lines of treatment, biomarker usage, and rationale for prescription or discontinuation. Working with this real-world information, LiveTracker currently monitors and analyzes the performance of drugs in two key disciplines: oncology and hematology.

A LiveTracker innovation is the single-source concept, with HCPs accessing patient chart information to populate numerous key data points, across different countries and indications.

Whether you are launching advanced drugs or trying to find new markets for your existing biotechnology, we provide real-world strategic insights that help you make the best business decisions

This enables pharma companies to seamlessly compare the usage and efficiency of their drugs in multiple geographic markets. “A unique feature when it comes to providing detailed market insights,” mentions Gazay.

Another distinguishing feature is Medimix’s data analytics delivery model. Gazay notes that Medimix product performance insights are utilized by a wide range of client stakeholders: business development, market insights, commercial excellence, data analytics, competitive intelligence, Health Economics and Outcomes, and even IT. Each department’s expectations and data needs vary, and Medimix meets this challenge with the cloud-based platform displaying different visualization models and application programming interfaces (API), catering to different users. Gazay says, “Sometimes there might be differences in specific terminologies and scope of medical practices.” Medimix recognizes these requirements during the onboarding process and vets its datasets against the client’s knowledge of the subject, configuring LiveTracker to their precise needs. Once this convergence process is accomplished, Medimix publishes monthly in-depth insights tuned to the company’s requirements.

As an example of unique insights achievable through LiveTracker, Gazay related how a client, with products across oncology indications, lacked sufficient data to understand where or to whom their products were being prescribed. They knew how much they sold, not to whom or how. By employing LiveTracker, the company learned that their products were active in four indications in oncology and were also able to measure their market share for each indication. This information helped the company better understand its market position but also helped them strategize on expanding their product to other indications and geographies.

Currently, LiveTracker caters to key global pharmaceutical, diagnostic, and medical device companies across 40 countries, tracking 20 different indications in oncology and hematology. “We have already begun expanding this distinctive solution to other therapeutic areas, such as Diabetes and Cardiology, and will be implementing it in rheumatology, neurology, and others,” reveals Gazay.