What is the difference between Real world data, Real world Evidence and Real world insights?

Healthcare is constantly evolving, and with it, the way we gather and use evidence to inform clinical practice and healthcare decision-making. Traditionally, evidence has been gathered from controlled clinical trials, but in recent years, there has been a growing recognition of the value of real-world data (RWD) in providing a more comprehensive understanding of how medical products perform in routine clinical practice. This has led to the development of real-world evidence (RWE) and real-world insights (RWI).

What is the difference between real-world evidence and real-world data:



What is Real World Data:

Real-world data (RWD) refers to data that is collected from sources outside of controlled clinical trials. This data can come from a variety of sources, including electronic health records, claims and billing data, patient-generated data, and registry data. RWD provides a more comprehensive and diverse view of how medical products are used and perform in routine clinical practice. It can also help to address gaps in knowledge and understanding that cannot be addressed through controlled clinical trials alone.

What is Real World Evidence:

Real-world evidence (RWE) refers to the information and knowledge that is derived from real-world data. RWE can provide valuable information on the real-world effectiveness, safety, and utilization patterns of medical products, as well as on patient outcomes and experience. RWE can complement the information obtained from controlled clinical trials and provide a more comprehensive view of the performance of medical products in the real-world setting. It has become increasingly important in healthcare as it provides a more accurate representation of how medical products perform in routine clinical practice and can help to address questions that cannot be answered through controlled clinical trials alone.

What is Real World Insights:

Real-world insights (RWI) refer to specific insights or information that is derived from real-world data and evidence. RWI can be used to address various research questions, such as the real-world effectiveness of a new medical product compared to existing treatments, the long-term safety and efficacy of a medical product, or the utilization patterns and cost-effectiveness of a medical product in routine clinical practice. RWI can also be used to support decision-making in various areas, such as health policy, reimbursement, and clinical practice.

In summary, the difference between RWD, RWE, and RWI lies in their purpose and use. RWD is the raw data collected from various sources, RWE is the information and knowledge derived from this data, and RWI are specific insights or information derived from RWE that can inform decision-making and support clinical practice. Understanding these differences is important in the healthcare industry as it highlights the value of real-world data and evidence in providing a more comprehensive view of the performance of medical products in the real-world setting.