Pharmacovigilance: A Practical Approach To Reshaping Patient SafetySource: Cognizant Technology Solutions
Ensuring the safety and efficacy of pharmaceuticals and biotechnology products is one of the top challenges in healthcare today. With drug recalls continuing to make headlines, consumers and other stakeholders across the healthcare ecosystem are demanding more oversight and regulators around the globe are responding to these pressures by increasing their scrutiny and compliance requirements from the industry.
Despite the heightened focus on drug safety and the direct link between reactive safety and numerous risks to business — financial, regulatory, brand loss, etc. — many biopharmaceutical companies today still have inefficient drug safety operations and detect safety signals with suboptimal latency. Inefficiencies and redundancies in pharmacovigilance operations result in higher costs and undermine efforts to significantly increase overall performance.