Interview with Verantos CEO Dan Riskin

Surgeon, technologist and entrepreneur Dan Riskin  founded Verantos to ensure that Real World Evidence (RWE) would fulfill its potential. High-fidelity RWE is challenging and expensive to create, especially at scale. But Verantos appear well on its way.

Chapters:

(0:00:10) - Real World Evidence
(0:13:51) - High Validity Real World Evidence
(0:21:19) - Real World Evidence Challenges
(0:29:19) - Revolutionizing Healthcare With Technology
(0:35:24) - Thanks for listening

Chapter Summaries:

(0:00:10) - Real World Evidence (14 Minutes)
In this episode, we explore the potential of real-world evidence (RWE) in healthcare and the challenges faced in realizing its full potential. Guest, Dan Riskin, CEO of Verantos, shares his journey from an early interest in healthcare and technology to becoming a leading figure in the field. We discuss his involvement in health policy, his work with Health Fidelity and Dock Dock, and the founding of his latest venture, Verantos, which aims to provide high-validity RWE at scale.

(0:13:51) - High Validity Real World Evidence (7 Minutes)
We delve into the challenges of using routinely collected data in healthcare and the fear that it would be done poorly, potentially leading to incorrect treatments and patient harm. The FDA's involvement in setting a framework for real-world evidence (RWE) is discussed, as well as the difficulties and expenses in achieving high validity RWE - including accuracy, completeness, and traceability. The success of Verantos in this field is attributed to its early visibility into the framework, years of experience, and advanced technology, including the use of AI. 

(0:21:19) - Real World Evidence Challenges (8 Minutes)
In this portion of the conversation, we discuss the limitations of traditional natural language processing (NLP) in real-world evidence (RWE) and how AI-based inference can improve accuracy and insights. We also touch on the need for RWE companies to expand beyond oncology and into other therapeutic areas, and the importance of maintaining patient privacy and security when working with health systems. Finally, we explore the challenges of generating profits in the RWE industry and the potential for innovative business models to address these issues.

(0:29:19) - Revolutionizing Healthcare With Technology (6 Minutes)
We explore the importance of knowing whether a company is a pharma services firm or a pharma tech firm, as each comes with its own business model, growth, and margin prospects. Focusing on the pharma tech side, we discuss the potential for cash efficiency, breakeven success, and a path to profitability. Furthermore, we look ahead at the future of healthcare, emphasizing the need to learn from every patient interaction and leverage technology, data, and compute power to create tailored treatment plans. Finally, we touch on the love for science fiction and its influence on the technological advancements in various industries'

(0:35:24) - Thanks for listening (1 Minute)
In this part of the conversation, we express our thanks to the listeners for joining us on the Health Biz podcast, where we conduct in-depth interviews with leaders in healthcare business and policy. For more insightful discussions, don't forget to subscribe to the podcast on your favorite platforms. If your organization seeks strategy consulting services in healthcare, visit healthbusinessgroup.com.'

Keywords
#RealWorldEvidence #Healthcare, #DanRiskin #Verantos #HealthFidelity #HealthBizPodcast

Host David E. Williams is president of healthcare strategy consulting firm Health Business Group. Produced by Dafna Williams.