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As healthcare providers shift toward a proactive pharmacovigilance method, healthcare facility operators will enjoy lower operating costs and decreased risk.
FREMONT, CA: Adverse drug reactions can be expensive. Prolonged hospital stays and clinical investigations cost around $30.1 billion every year — and healthcare facilities carry much of that burden. This is stressed by an FDA website that cites statistics like the 100k deaths and over 2 million critical adverse drug reactions experienced each year. A drug’s regulatory approval may even be revoked in extreme instances while attaining some learnings, overall unprofitable and unsuccessful. In response to these hurdles, an evolving number of clinical facilities leverage drug and patient data to shift from reactive drug safety toward a proactive global pharmacovigilance system. Adverse drug reactions can be detected before the drugs in question are ever prescribed.
The release of consistent systems for organizing electronic medical records marked the starting of an industry-wide transformation toward data standardization. Although this digital transformation has brought many advantages in patient care, significant work remains to be done. Experts forecast that at least 6 percent of hospital patients experience at least one adverse drug reaction per visit — and an accessible database of pharmaceutical reports could prevent several of those adverse drug reactions.
As more clinical providers embrace consistent policies for reporting and organizing drug data, this data can be correlated with manufacturers’ product updates and new regulations — and pharmacokinetic and genomic data collected from millions of patients across the globe. When this data is brought together in a unified format, clinical practitioners will get access to a wealth of actionable data about likely adverse drug reactions, allowing them to shorten patients’ hospital stays and offer safer care.
Comprehensive data collection is only the primary step. To accurately forecast adverse drug reactions, clinical providers must undergo a shift in thinking: from reactive drug safety protocols toward a proactive pharmacovigilance system. In this system, data from other healthcare facilities, drug manufacturers, regulatory authorities, and other sources will be fed through predictive analytics algorithms, which will find potential adverse drug reactions and recommend alternative prescriptions. With the help of emerging data networks, healthcare professionals can make strides toward effectively preventing adverse drug reactions.