A Data Science Central Community
states: "To get health care providers to purchase their products and insurance companies
to reimburse them, life sciences companies need to demonstrate “comparative
effectiveness”—that is, the potential benefits and real-world effectiveness of
their products that lead to tangible health outcomes, such as reductions in
hospitalization rates, decreases in readmission rates, and other quality of life
CER (Comparative Effectiveness Research) and HTE (Heterogeneous Treatments Effects) are an outgrowth of PHARMA and FDA not adequately covering the "real effectiveness for all groupings" of individuals, and individuals themselves (Only TRUE PREDICTIVE ANALYTICS coupled with DECISILNING can do this fully adequately .... "Warmed over traditional statistics" will not fully do the job ......)
So true ..... and not only can PHARMA companies learn from businesses like RESTAURANTS, but HEALTH CARE DELIVERY in general...... more information will be forthcoming in our new book: PRACTICAL PREDICTIVE ANALYTICS FOR HEALTH CARE DELIVERY, due out 2nd quarter 2014 .......