Oracle Health Sciences Innovation Forum
Today, I attended the Oracle Health Sciences Innovation Forum in Parsippany, NJ.
I was fortunate enough to be invited to speak during one of the afternoon breakouts.
The event provided some thought leadership and networking opportunities for the industry, and was organized into tracks such as:
- Innovation in Clinical Development
- The Evolving Landscape of Safety and Pharmacovigilance
- Business and Workspace Transformation
- Enabling a Great Customer Experience
- Simplify IT and Ignite Innovation
Oracle’s mission is to enable its customers to deliver innovative therapies, devices, diagnostics and optimized care processes to prevent and cure illness.
Its vision is to build solutions to support a collaborative health sciences industry delivering patient-centric, value-based health care.
Oracle’s strategy is to provide a complete, open, integrated application suite and related services with industry-leading customer ROI and satisfaction.
There is a “perfect storm” in the global life sciences industry: more demanding regulators, investors wanting growth opportunities, and payers that are requiring a better economic cost-benefit ration and improved health outcomes.
There’s a strong trend towards more collaboration, with more connections between healthcare companies, contract research organizations, sponsors, and academia. These silos are starting to be broken down, as more companies realize the benefits of cooperating rather than competing.
Severin Schwan, the CEO of Roche, believes that “data from clinical trials and data from clinical practice are separate, but it makes sense to bring these together”. It’s a brave new world, leading to innovations that truly weren’t possible before.
These things are important, but are they really that difficult? A PriceWaterhouse survey showed that most companies in the health sciences industry believe increased data integration is either challenging or very difficult.
Access to the clinical data stored in electronic health records would help companies across the board.
Oracle is bringing to bear some new IT solutions areas:
- Cloud services, which enable pay-as-you-go, partnering and data sharing
- Mobile, including data collection, workflows and decision support to lower costs and improve decisions
- Big data, the core of secondary use as data sources proliferate
What makes something “big data”? It’s a combination of a certain amount of volume of data, the overall velocity of data, the variety of data, and the value of data.
Big data is a complex set of problems that Oracle is starting to address in a comprehensive way.
Proteus now is making a computer chip on a pill, offering much more fine-grained monitoring than typically available.
Oracle is building out a “Health Sciences Cloud”, offering performance, scalability and security, in a HIPAA certified environment, enabling 21 CFR Part 11 compliance, optimized for individual trials, scaling from the smallest to the largest enterprises.
Social collaboration in the corporate environment is different from Facebook and Twitter. Oracle is developing social network technology to bring the capabilities of the public social networks into the corporate framework. It can be deployed both on premise or in the cloud, and allows for real-time, multimedia conversations.
People have typically been doing their work through private networks and e-mail, but that’s typically less productive in terms of collaboration. The life sciences participants and healthcare provider and payer participants need:
- near real-time clinical data
- protocol validation and patient recruitment
- safety signaling
- device studies
- disease monitoring
- disease and patient registries
But it’s not all going to happen at once.
Gamification is starting to be applied to changing behaviors – patients, investigators, doctors, etc. Oracle is looking at medication adherence, for example.
Oracle’s health sciences roadmap includes a clinical suite, a healthcare suite, and a safety suite, and it also includes a strong analytics component (predictive, real-time and operational), as well as industry-specific high performance hardware.
Oracle’s R&D investment delivered 27 new releases and upgrades in 2011.
Oracle has proof points on Key Performance Indicators like reducing the number of non-performing study sites, improved CRA productivity, improved Clinical Study Manager productivity, reduced time to complete clinical studies, etc.
Oracle has a number of integrations already in place, to tie together its Clinical Trial Management, Clinical Data Analytics, Integrated Response Technology, InForm schedule management and data capture, Argus Safety, and more.
Oracle has been working to integrate its ClearTrial acquisition with its other health sciences products for clinical trial management.
Going back to 2008, Oracle saw an opportunity to invest in order to differentiate itself from others in this space. The innovation accelerated in 2009 at Oracle, with some of its acquisitions in the health sciences software industry. In 2010, Oracle made further investments in improving its products, and in 2011 it came out with more than 25 new releases or major upgrades.
Oracle will continue to invest in integration, big data, gamification, new products, and bring the ClearTrial integration into its suite of products.
Watch HubDesignsMagazine – hopefully I’ll be able to write another post while I’m here today before I speak at 3:00.