The utilization of data analytics stands to revolutionize the delivery of healthcare services by enhancing drug discovery, bolstering patient adherence, reducing physician burnout and patient out of pocket expenses, and preventing fraud. However, the successful implementation of data analytics and artificial intelligence necessitates a combination of domain expertise, technical skills, and leadership prowess in the rapidly evolving business landscape.
As a part of NRI impacting the global technology sector series, we would like to introduce Shashank Agarwal, an AI specialist who is one such industry guru who exemplifies these attributes. Let us study and learn more about this extraordinary individual.
Disruption and Innovation
Shashank Agarwal, a highly accomplished data science expert in the pharmaceutical sector and a Johns Hopkins graduate, has received across-the-board credit for his outstanding abilities and contributions to patient care. His pioneering work in utilizing artificial intelligence (AI) to enhance medication adherence "has not only saved millions of dollars patients spend on their health but also sparked debate further about the impact of technology, in an industry that is very averse to change" as highlighted by the Khaleej Times, the UAE's bestselling newspaper. His work on using data science in patient adherence also won him the prestigious 2023 Globee Golden Bridge Award.
Shashank has consistently shown a remarkable ability to recognize new opportunities and build data science solutions to enhance the healthcare ecosystem. His innovative and creative technological solutions have generated multi-million-dollar revenues for his past employers. Notably, at CVS his utilization of natural language processing (NLP) algorithms and tailored messaging to target patients who were late to refill specialty drug prescriptions resulted in a remarkable 3% increase in refill rates across CVS Specialty stores. Additionally, his development of an account prioritization methodology, leveraging data science, enabled CVS sales representatives to optimize their time and maximize open market referrals to CVS Specialty. Both of these projects have been well recognized and are being widely adopted by the commercial pharmaceutical analytics industry as a whole.
During his time at AbbVie, his analytical framework to evaluate the impact of payer formulary drop on healthcare professional (HCP) writing behavior for a GI drug successfully influenced major payers such as Cigna and BCBS to reinstate coverage. This resulted in significant annual savings of $10,000 per patient and a total savings of $4 million across the entire patient ecosystem as well as enhanced accessibility to this life-saving medication. It also sparked discussions about the amount of control insurance companies and PBM should have over patient drug access globally.
With years of experience under his belt, Agarwal's unique blend of technical acumen, strategic foresight, and leadership skills has cemented his reputation as a force to be reckoned with. Shashank has established himself as a visionary leader in his industry thanks to his persistent dedication to technology, innovation, and domain expertise. His capacity for creating new opportunities, turning ideas into analytical solutions, and solving practical issues have had a profound effect on the organizations he has worked with.
Giving back to the community
The celebrated figure also dedicated his time and expertise to fostering the next generation of innovators and disruptors by serving as a speaker and coach in the technology and business innovation space, offering his insights and knowledge, empowering aspiring data scientists with the tools and strategies they need to excel in their careers. Shashank's thought leadership articles published on multiple outlets have also sparked debate further about the impact of artificial intelligence, in an industry that is old school and averse to change. Furthermore, he has also served as an industry expert judge across multiple awards and competitions, offering invaluable insights to professionals, executives, and businesses in the health-tech field
Shashank Agarwal has made significant progress in the healthcare industry by using data analytics and artificial intelligence in innovative ways. His work on medication adherence and data science solutions has saved patients millions of dollars and started important discussions about the role of responsible AI in healthcare. Shashank's strategic thinking, technical expertise, and leadership skills have made him a visionary leader who creates opportunities and solves real-world problems. He is also dedicated to mentoring the next generation of innovators and promoting positive change within the healthcare industry. Shashank's contributions demonstrate the potential of data analytics and AI to transform healthcare for the better.
