Parexel boosts RWD network via HealthVerity partnership

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/Tetiana Lazunova)
(Image: Getty/Tetiana Lazunova)

Related tags: Real world data, RWD, Parexel, HealthVerity

Parexel increases its real world data network by more than 330m patients across 60 health care and consumer sources though a partnership with HealthVerity – which earlier this year raised $25m to advance its technology.

Partner companies, such as Parexel, can browse, discover, and license data within HealthVerity’s self-service cloud platform, HealthVerity Marketplace, explained the company’s co-founder and CEO Andrew Kress.

“The real benefit for organizations is the power to link existing datasets within an enterprise to 60 major data sources,”​ he told us. This includes claims, lab results, biomarkers, device, electronic medical records (EMRs) in addition to grocery and consumer data.

While linking and de-identifying health care data is not new, HealthVerity approaches it ‘a bit differently’ – and 10-times more accurately than the industry average, said Kress.

“Linking health care data with consumer data and media impressions, in a HIPAA-compliant manner, has not been possible until now,”​ he said.

“HealthVerity leverages probabilistic matching technology to unite disparate patient records with a unique and persistent ID (HVID) that remains consistent across disparate data sources – not only within their data but across every partner in the ecosystem that’s using our software,”​ explained Kress.

Speaking to the recently announced strategic partnership, Kress said Parexel was looking to build customized RWD solutions to help its customers solve their complex clinical trial needs.

“Clinical trials are incredibly expensive, so increased access to interoperable data can only aid in the research and development of new therapies for patients,”​ he added.

According to HealthVerity, its technology is currently used by more than 100 health care organizations.

To support its expanding customer base, the Philadelphia, PA-headquartered company in April of this year closed a $25m Series C funding round, led by existing investor Foresite Capital with participation from Flare Capital Partners, Greycroft Partners, and other existing investors.

Related news

Show more

Related products

show more

dPCR Case Study

dPCR Case Study

CellCarta | 08-Aug-2022 | Case Study

Streamline your adoptive cell therapy program with digital PCR. Our team has a unique expertise in digital and quantitative PCR to support you in ensuring...

Standardizing data with NCI controlled terminology

Standardizing data with NCI controlled terminology

Formedix | 18-Jul-2022 | Technical / White Paper

The use of consistent terminology within and between studies is critical to enabling an efficient trial process. CDISC standards such as CDASH, SDTM, SEND...

Planning Your First-In-Human Trial

Planning Your First-In-Human Trial

Altasciences | 15-Jul-2022 | Technical / White Paper

A first-in-human (FIH) clinical trial is a significant milestone in the development of a potential new drug. A successfully conducted FIH trial provides...

Related suppliers

Follow us

Products

View more

Webinars