Hannah Lorquet, Principal Consultant |
Artificial intelligence (AI) continues to drive innovation across industries, with the pharmaceutical and healthcare sectors at the forefront of its potential. This year’s World EPA Congress in Amsterdam explored AI’s growing impact on market access, offering valuable insights from industry experts.
A significant portion of the congress was dedicated to AI’s potential in streamlining market access processes. Notable presentations, such as ‘FDA Perspectives for AI in Market Access’ by Carl Asche from the University of Utah College of Pharmacy and ‘Generative AI Applications in Market Access and HEOR’ by Bill Malcolm from Bristol Myers Squibb, underscored the growing role of AI in enhancing efficiency and accuracy.
While the promise of AI in accelerating reimbursement processes and reducing the analytical burden was clear, speakers emphasised the importance of thoughtful implementation.
Hannah Lorquet, Principal Consultant at HEOR, shares key takeaways from the event that can guide organisations considering AI adoption in their market access strategy.
Choose AI tools wisely: AI fatigue is a real concern in the pharma industry, and it’s important to focus on the areas where AI can have the greatest impact. One speaker highlighted how an institution evaluated over 700 potential AI use cases to support their business. Of these, only 1% were successfully implemented, yet that 1% was deemed transformative. The lesson here is clear: choose AI tools carefully, focusing on high-impact areas that can truly alleviate pain points and drive value.
Protect IP and ensure quality data: AI is only as effective as the data it is fed. In a specialised industry like pharma, relying solely on publicly available data may not be sufficient. To maximise AI’s value, it’s essential to input both market-sensitive and patient-sensitive data into the AI system. This data must be securely protected to ensure it does not leak into public domains. Protecting intellectual property while maintaining the integrity and quality of data used in AI applications should be a priority for every organisation.
AI as a companion, not a master: AI should be viewed as a powerful tool to support decision-making, not as a replacement for human expertise. For instance, while an AI assistant may generate potential reimbursement scenarios, human oversight is crucial in selecting and validating these scenarios. AI must be transparent, with algorithms that are understandable to users. Human control is vital to ensure that AI-generated conclusions align with broader business objectives and strategic goals.
Looking ahead: supporting your market access journey
AI has undeniable potential to transform market access, but its successful integration requires careful planning and execution. At HEOR, we are dedicated to evaluating the practical applications of AI and identifying the areas where our clients can derive the most value.