The U.S. Food and Drug Administration (FDA) is increasing its capability to harness the power of big data – or more specifically of the “real world evidence” (RWE) – to assess the safety of medical products that are approved for the U.S. market. To that end, FDA is expanding its Sentinel System so that by the end of 2023 it would represent “a transformative, multi-purpose national data and scientific resource center for evidence generation that a wide array of stakeholders use to inform all aspects of healthcare decision making,” according to the recently released Sentinel System Five-Year Strategy.
The effective use of data analytics is quickly changing the legal landscape and the practice of law for the better. This is a fast-changing area where today’s “use cases” will be quickly superseded by new and more powerful uses of these technologies. This post discusses key areas where in-house counsel may consider the use of data analytics either as a solely in-house measure or in connection with engagements with outside counsel.