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Medical Data Vision : New-Age Medical Data Analytics
Real world data (RWD) from patient studies, clinical trials, observational studies and more, has proven to be incredibly valuable for organizations in the medical landscape. Data from medication used in a real-world setting combined with the data obtained in controlled trials helps companies establish a comprehensive picture of a medication’s place in everyday clinical practice. Additionally, RWD has the potential to address the burden of evidence for regulatory considerations and may be used in the approval of new medications. As helpful as RWD is, there is scope for better implementation of the data by understanding its complexities and applying the latest analytical tools in order to extract relevant information from sources. Yet handling such complex data and leveraging it to its full potential is a challenge that many healthcare organizations find daunting. To address the need for proficient data analysis in the medical arena, Hiroyuki Iwasaki founded Medical Data Vision (MDV)—an establishment that could build a new infrastructure for medical data collation and improve the quality of healthcare in Japan.
In a market that has just recently pushed for RWD utilization, MDV uses its large-scale database to process data and aid both patients and caregivers efficiently. With over 35 million records of patient medical data used by more than 100 companies domestically and internationally, MDV’s medical care database is the largest in Japan. MDV corresponds with clients by helping them understand the characteristics of each data point more accurately such that they can effectively solve their problems. By constructing a vast and robust database, it is possible to analyze the stats of drug distribution in actual clinical practice.
MDV’s data analysis solutions can be used by hospitals, pharmaceutical companies, and academia. For hospitals, MDV has designed systems that utilize standard format data such as DPC and electronic receipt data to support hospital management. Contrary to traditional, convoluted management support systems, MDV’s solution provides users with a clear overview of cost analysis, medical quality, and profit margins.
To aid pharmaceutical organizations, MDV combines its medical care database with a web analysis tool that allows clients to effortlessly analyze data such as the number of patients, prescription days, prescribed drugs, and more. “Our solutions allow pharma companies to easily understand the current utilization rates and effectiveness of their medications,” says Masaki Nakamura, Director at MDV. On the other hand, end-users and patients can use MDV’s Karteco service to view medical records and medical examination results from the comfort of their homes. Accessible personal health records (PHR) have empowered patients to manage their lifelong health and medical information, setting them a step ahead in effectively using PHR. By enabling the populace to track and understand their medical data with ease, MDV has substantially improved health care literacy in Japan.
Today, as a pioneer in the utilization of medical big data, we are one of the few companies with abundant expertise in medical data analysis,
The company has witnessed an increase in net sales revenue by more than 500 million yen from 2019 to 2020 by optimizing medical treatments, attracting more patients, eliminating additional healthcare costs, and proactively analyzing hospital management data. Despite the lag in Japan’s healthcare ICT and the complexity of patient data, MDV centers on its philosophy of seisei-doudou to create data systems that streamline organizational management and better connect patients with hospitals. As a private company, MDV was the first to start analyzing DPC data and has now accumulated extensive know-how in the industry. “Today, as a pioneer in the utilization of medical big data, we are one of the few companies with abundant expertise in medical data analysis,” concludes Nakamura.