Digital health investment of $6.5 billion in 2014 more than doubled from previous year and its only beginning. Pharmaceuticals, biotechs and the likes of healthcare industries require strategic, cultural, and competitive transformation to survive in the new era. Attention to client service delivery that is agile and leverages technology most effectively will be the ones to thrive. Recognizing value will replace brand. This may mean a beginning-to-end solution attuned to details that is both predictive and reactive through intelligence and on-demand resources that shape treatment.
The culture of Millennials for instant gratification is upon us and delivered from wearable technology and the emergence of connected (cloud streaming) data analytics allow treatment virtually instantaneous or at the very least proactive awareness. Combined with the resources of google-ing like solutions, new client facing applications require the ability to adapt to patient behavior that is measurable in quality of health and cost. The paradigm shift is an emphasis / interpretation of data and predictive solutioning instead of numerous and fragmented tests. IT plays a centerpiece but tight integration with legal / regulatory, privacy offices and sales organization is essential to building a new digital pharma model. Both companies and industries will break new ground, and the road to better health will merge the traditional roles in pharma, providers, and payors such that end-results will be the focus regardless of the who and how it was achieved.
Article source: McKinsey & Company
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