SYDNEY, Sept. 6, 2022 /PRNewswire/ -- Health analytics pioneer, Prospection has announced a unique global data access agreement with leading Japanese medical data company Medical Data Vision Co., Ltd. (MDV) to accelerate healthcare analytics globally.
The agreement, covering the world's second largest pharmaceutical market, will provide global pharmaceutical companies and researchers access to comprehensive and longitudinal data covering more than 40 million people in Japan at more than 470 hospitals.
Combining predictive analytics and machine learning with real-world healthcare data, Prospection's agreement with MDV will provide pharmaceutical companies across the world with unique access to patient diagnostic and medication data from hospitals across Japan, unlocking potential to assess an unlimited number of treatment programs in the region.
The agreement also enables access to patient history and prefecture level data, allowing analysis of disease progression, disease outcomes and the mapping of disease courses to provide evidence on areas where development can address unmet needs. When distilled further, this creates an opportunity to assess patient data on a regional level to find geographical areas where patients or health centres require additional support for specific disease and conditions.
Prospection's access to Japan's most comprehensive medical data sets is a significant milestone for the company. Prospection currently provides real-time access to longitudinal patient data across 15 regions globally including Australia, New Zealand, Japan, South Korea, Taiwan, USA and the UK. The company's latest announcement with Medical Data Vision will build on this work, providing Prospection with access to one of Japan's largest healthcare databases.
Global Healthcare Benefits
According to academic research,* only 60% of healthcare is in line with evidence-based guidelines, with the remaining 40% being classed as wasteful, low value or in some cases harmful. Through the analysis of the longitudinal history of hundreds of millions of patients, Prospection's database can help the healthcare industry to assess the use, value and outcomes of treatments to find that 40% and identify how it can be optimised.
By enabling pharmaceutical companies and health researchers across the globe to better understand the full cycle of health conditions and disease journeys, this data will allow global life science companies to:
1. Collect patient and market insights
Through the analysis of specific health conditions and patient journeys, pharmaceutical companies can determine where, when and how to invest their resources and how to position their brand within the Japanese pharmaceutical market while forecasting supply chain, and developing models for market access.
2. Find patients and develop tactical plans
Life science companies can utilise the data to identify where patients with the highest disease burden for their treatment offerings are being treated geographically. Companies can then deploy their regional in-field teams with the right messages to support clinicians to help these patients requiring treatment.
3. Publish data
Access to one of the most comprehensive Japanese medical data sets also creates an opportunity to add to the clinical body of evidence for health conditions to help inform a better understanding of specific diseases.
4. Receive decision support
Provide healthcare providers with trigger events to assist with targeted education when it is needed most, supporting clinician at point of care with the patient.
Kaoru Sato, Country Manager, Prospection, Japan, said:
"We are delighted to announce our latest agreement with Medical Data Vision. This partnership demonstrates a shared commitment to improving patient outcomes and marks a significant milestone in Prospection's mission to deliver real community benefits to patients across the globe.
"As one of the largest pharmaceutical markets in the world, Japan has incredibly rich datasets. Working with Medical Data Vision gives us the opportunity to access a dataset of approximately 40 million patients, creating a unique opportunity to use advanced analytic tools to accelerate precision medicine to enable the right patient to receive the right treatment at the right time in their journey.
"The outcomes of this partnership will play a key role in understanding the full cycle of patient health conditions and disease journeys in areas including immuno-oncology, immune disorders, cardiovascular and metabolic conditions allowing researchers and pharmaceutical companies globally to better understand the different patient characteristics, treatments and respective outcomes."
Eric Chung, CEO and Co-founder, Prospection said:
"We are very excited to be working with MDV in our latest data access agreement. Combining MDV's large and comprehensive dataset with Prospections global reach and extensive expertise working with datasets across the world will not only allow MNC pharmaceutical companies to work with patient data from Japan, but will also open a broader understanding of different health conditions across the world. This agreement brings us one step closer to enhancing precision medicine to find the 40% of patients that can be optimised."
Prospection is a pioneer in health data analytics technology. We are on a mission to make advancements to precision medicine through real world evidence, with an aim to put the right patient on the right treatment at the right time. Applying advanced ML algorithms to real-world data we unearth health journey and treatment insights by analysing longitudinal data for hundreds of millions of patients to see how drug treatments are used after the clinical trial. Delivering actionable real-world evidence that enables better outcomes for patients, across the world.
Prospection is guided by credentialled experts and innovative leaders within their respective fields. Globally, we work with over 15 large health data sets (Claims, EMR, Registry & Commercial), applying our expertise to examine health patterns. Working with government and researchers through to our core client base in the pharma/biopharmaceutical industry, we have delivered insights across more than 90 therapeutic indications. Including rare and complex diseases such as oncology, immuno-oncology, virology, metabolic conditions, respiratory and cardiovascular disease. Prospection is backed by investors including Ellerston, Horizons Ventures and Main Sequence, and commercially with CRO Novotech.
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About Medical Data Vision (MDV)
MDV is an accumulation of anonymously processed data with secondary usage permission from medical institutions. The actual number of patients in the "hospital data" centered on the acute phase is 40.42 million (counted at the end of July 2022). In addition, by holding data from the health insurance association, data on the recovery period and chronic period has been enhanced, and in addition to information by hospital/clinic, it has become possible to track information on transfer destinations. "Health insurance data" was 7.84 million people (same).