ThoughtSphere is a data analytics company whose market-leading technologies help pharmaceutical companies and CROs reduce development costs and better identify risk when managing clinical trials.
ThoughtSphere The Inception-
ThoughtSphere is a cloud-based clinical data and analytics company.
“Our mission is to help life science companies develop and deliver treatments to patients faster and smarter using data science. “
Their innovative and patented platform leverages data science expertise using artificial intelligence (AI) and machine learning (ML) to increase R&D efficiency by up to 30%. ThoughtSphere is a company dedicated to transform clinical trial processes to increase patient safety, improve trial quality and decrease the cost of bringing new treatments to market.
The Founder and CEO, Sudeep Pattanaik says that the initial challenges for ThoughtSphere were the same as many other tech start-ups. Finding the right people to help bring the vision into a reality and develop the product, getting the initial product to the point where it’s ready for general availability and finding an initial set of customers that were willing to trust them to solve some of their biggest challenges. The company has been very fortunate from the start that their customers are very pleased with the results they’re realizing with ThoughtSphere Cloud.
ThoughtSphere’s products and services have been in the market since 2017 and every day the entire team works hard to understand the problems the industry and their customers need to solve.
We look at those problems as opportunities for us to engage with our clients and demonstrate real business value in helping them transform their business.
The Products and Services-
ThoughtSphere Cloud is a clinical data and analytics platform with ClinHUB at the core. ClinHUB is a patented source-system-agnostic data collation and aggregation hub, enabled by AI and ML that can be deployed in days or weeks. On top of this are offerings for risk-based monitoring and analytics (ClinACT), budget planning and site payments (SPACE), data management, review and reconciliation (DMSphere), and a user-friendly environment for configuring new or existing reports and dashboards (BI Tool).
ThoughtSphere’s services are different than general tech-services in the market. What distinguishes them from others is-
Patented Data Integration – Their platform leverages AI and ML to provide a 360-degree view and adapts to any data source or format it is ingesting in a clinical trial.
Intuitive and Easy to Use – The platform was built with business users in mind from data ingestion to analytics and visualization
Time to Value – implementations can take only days versus standard implementations which might take weeks or months and clients are reporting significant cost savings of in the areas of data integration and clinical monitoring.
ThoughtSphere is delivering business value to their clients. A full-service CRO and technology-led services provider has reported these benefits using ThoughtSphere Cloud:
- 50% time savings in mapping highly complex studies
- 60% improvement in time to develop the initial interface for data warehouse
- 30% cost reduction in data integration
- 25% reduction in clinical monitoring costs using a mix of central, offsite and site monitoring
- 30% reduction in cycle time through process optimization
- 25% reduction in costs through reduced overlap in roles and activities
ThoughtSphere’s client engagement and product teams proactively work with their clients on a one-on-one basis to validate product strategy and gain feedback for new ideas and product development. They encourage each of their clients to provide open and honest feedback on the product and articulate their desires for enhancements and improvements, helping them with prioritization as well.
Through regular interactions by their engagement and product teams, it becomes easy for the company to learn how the product is being used. And because of the depth and strength of the relationships ThoughtSphere has with their clients, their valuable feedback on the platform hasa great influence on the current products as well as ThoughtSphere’s roadmap.
Needless to say, fundamental to the success of ThoughtSphere are the trusted clients, their feedbacks and the people who have designed the product. Founder Sudeep Pattnaik himself, his co-founder and many of their employees have worked in the clinical trials and data management industry. They all have a deep understanding of the problems sponsors and CROs face and how technology can be used most effectively to run clinical trials.
The journey ahead awaits several interesting aspects to explore. Decentralized trials are promising to bring the entire clinical process online with patients at the center. Social media, tele/video conferencing, mHealth platforms and IOT/sensor devices are going to be increasingly visible to the patient.
Behind the scenes in the areas of data management and risk monitoring, ThoughtSphere will be exploring how to help automate study build processes and focus on using their patented platform to collect data from wearables, patient apps, electronic health records, labs and eCOA. They are also focused on statistical analysis and using machine learning to analyze large datasets to extract benefits, value and insights and use this information to communicate with patients. Their focus is and always will be on how to use data science leveraging AI and ML to transform clinical trial processes.
Leading the Way-
Prior to founding ThoughtSphere, Mr. Sudeep was the global leader of products for the largest CRO in the world (Quintiles), creating and leading the strategy team behind a $60M integrated healthcare data hub. He has 16+ years of experience in life sciences and healthcare and 25+ years of experience in Product Management, Engineering, and Delivery roles. He has also played a key role in defining the Risk-Based Modeling approach for optimizing the clinical development process and helped develop a best-of-breed RBM platform for the industry.
Apart from all the milestones he has achieved at ThoughtSphere, One achievement that he is proud of is recently the U.S. Patent and Trademark Office (USPTO) awarded ThoughtSphere US Patent No. 10,642,854. This patent was awarded because of their unique approach to providing near real-time 360-degree view of clinical R&D data. Their platform adapts to whatever data structure it is ingesting, allowing end-users to convert these data to a standardized format. Inventors listed on the patent are Sudeep Pattnaik, CEO, and Pankaj Manon, CTO.
Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.Jack Ma, Founder- Alibaba Group