In terms of technology use, many firms want high-validity studies. Thus, accuracy must be tested regardless of the technology applied. But, some technologies result in higher accuracy than others. For this reason, Verantos believes that AI, including natural language processing (NLP) and pattern recognition to support inference, is essential to achieve high-accuracy data extraction in healthcare. “In the studies we perform, data accuracy is unparalleled; greater than 85 percent compared to industry norms of 30 to 40 percent,” explains Riskin. “In terms of data provenance, every extracted element and the enriched portion of the patient record can be traced to each condition, medication, lab, and procedure.” The distinctive vision to employ validated AI earned Verantos funding from the National Institutes of Health, the National Science Foundation, and the Food and Drug Administration.

A maven in the RWE field, Verantos offers a boutique experience to its clients throughout pilots and clinical studies to ensure that all stakeholders are engaged with the process, and success criteria are met. Riskin recalls when a leading pharmaceutical firm was expanding its traditional RWE division to incorporate advanced RWE. The customer knew they needed to access EHRs and unstructured data to gain a clear picture of the patient, but they wanted to implement all this through a pilot study and learn the process. Verantos worked with the client, starting with a technology pilot stage to demonstrate high-accuracy, subsequently moving on to a series of clinical studies, understanding patient phenotypes, and performing claims and registry linkage to gain visibility into patient outcomes and resource utilization. After that, the client used these capabilities to enable Phase III efforts and product launch. They also extended to additional therapeutic areas within the enterprise.

Verantos’ future endeavors are to continue in the advanced RWE field and offer the most rigorous, high-validity, and technology-enabled studies in the industry. “We aspire to demonstrate an approach to RWE that matches the rigor of randomized controlled trials, but provides additional insight to help tailor therapy and improve care,” ends Riskin.