Pharma and medical device companies are increasingly trying to use digital transformation to move toward becoming evolved, customer-centric digital health organisations. The wide range in job titles and divisions that now attend Digital Pharma events is a testament to the spread of digital throughout the entire pharma enterprise. Digital transformation methodology needs to be a core principle in modern pharmaceutical companies striving for future success.
As digital health becomes a commoditised product, pharma is evolving from a product-based industry toward one rooted in solutions. Business model disruption in pharma is now a necessary tool — and this is shifting the ownership model into a "healthcare as a service" approach. This new approach has a number of implications on the business model as we see it today, and raises important questions:
- What is digital health today – is it moving away from just rep efficiencies?
- How can we optimize the shift of the ownership model from pharma to the consumer?
- What technologies are available to deliver the tipping point in this shift?
- What does digital healthcare and health outcomes as a service look like?
Pharma mindsets, competencies and processes are typically geared toward risk minimisation at the expense of speed and flexibility.
Organisations can transition from being asset companies to solutions providers by changing the mentality of product launches.
That may or not be the aim of your organisation. What is not in question, however, is the need for life science organisations of all sizes. From high growth biotech and pre-commercialisation bio/medtech assessing the digital landscape, to big pharma and medical device organisations executing global, multi-platform initiatives, digital has become the core tool.
It is no longer enough for a company to have specific digital teams added onto a brand plan as a bolt on. Digital should be embedded across the enterprise with multiple stakeholder engagement. From an early stage, regulatory, legal, compliance, IT, innovation, commercial operations, customer interaction, sales/field force and many other departments all need to interact with the various marketers to develop initiatives that really deliver for the customer — regardless of their size or scale of operations.