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With the average company investment into digital transformation increasing 148% in 2020 your competitors are racing to disrupt your business. Can you afford to be left behind?
The life sciences industry might have already harnessed the power of technology, but in order to stay afloat in a fast-paced and competitive industry, keeping one step ahead of the curve is a necessity. In fact, this need has infiltrated all facets of the industry, from the medical discoveries unveiled by pharma to handing over the prescription to the patient.
But it's the latter part which really matters.
Through data-driven insights, integrated platforms, and a variety of other innovative solutions that align with the capabilities of medical technology, supporting pharmaceutical, biotech, medical technology, distributor and consumer health clients via a digital strategy has never been easier. And it’s never been more adaptable to a disrupted field, either.
Whilst the patient stands firmly as the future focus of this industry, marketing has not anchored itself at the centre of this industry’s forecast, just yet.
Exploring the potential of medical technology and the personalisation required to compete in the industry is just the next step in staying competitive against disruptive forces within your corporate strategy.
By rethinking your specific medical technology in alignment with current and future tech, and exploring the potential for research and development, your business can parallel its operations with the patient.
From the laboratories, trials, regulations, to pharmacovigilance, drawing together your operations and the patients' needs is key to your technological transformation.
And our life science consulting can help you do just that.
Both healthcare and the life sciences are dedicated to one thing, and one thing alone: the patient.
Identifying their medical needs, ascertaining what they require in regards to those needs, and helping them find their solution completes the core process of the pharmaceutical industry.
And technology is set to supercharge this.
From rethinking operations with a digital edge, to harnessing the power of advanced analytics to identify patient wants, personalising the product, the customer experience, and the marketing is fundamental to the future of biopharma companies.
Unveiling new, more precise treatments is more than skin deep, and requires both the brain power of a computer, and the perspective of a human.
Director of Technology, Simply Brands
For those with an ear to the ground, this process is also known as a Digital Transformation. A Digital Transformation rethinks how you manage your employees, your clients’ and business’ data, and how you carry out your business operations.
Or, in simple terms, a DT is the technological revamp that your business needs to stay competitive. And your business needs it now.
The life sciences industry has always struck itself as unique. It serves a greater purpose beyond profits, or name-sake - but, just like the industries it sets itself apart from, it shares their common purpose regarding digital transformations. In fact, more so than others, it focuses on the need to serve the consumer.
Or, in this case, the patient.
This starts with technology needed to provide a precise personalised medical service via analytics and specific tech, and extends to connectivity capabilities. This draws together health outcomes and the need to constantly adapt to the changing industry via research and development. Once this has slowly integrated the focus on the patient in the business, this can be deployed via the product and its marketing.
Thanks to technology, it starts with the patient - and it ends with them too.
UTILISE ADVANCED ANALYTICS
Leverage the power of data to tap into your patient’s exact needs and wants; detect changes in patient care in real-time, and navigate biomarkers to ensure an experience tailored to them.
AIM FOR A NEW BUSINESS MODEL
Align your new focus on personalisation with a new business model dedicated to patient experience. By guaranteeing each stop on the supply chain focuses on the patient, you can uphold your competitive edge.
RE-MARKET IN REAL-TIME
Engage with your customer’s specific desires via data-driven insights, and tap into the thoughts of providers and pharmacies to re-design the experiences they expect.
RESHAPE YOUR SERVICES
There’s no better way to engage a patient than to provide experiences they can trust. And there’s no better way to ensure this than to align the programmes and treatment to them.
STRATEGISE VIA DATA-DRIVEN INSIGHTS
Analysing and utilising patient data and insights from across their entire healthcare experience requires software that integrates the data and provides a seamless process of analysis.
INNOVATE AND INTEGRATE
Engage your patient on all sides of their experience via integrated patient care that coordinates their experience with various touchpoints. No stone is left unturned, and no patient need is unnoted.
FOCUS ON RESEARCH AND DEVELOPMENT
Digitalisation might be the definition of efficiency, but it's how it unleashes the potential of research and development via constant adaptation to new technology and innovation that scores its importance here.
INTEGRATE YOUR TOTAL TECHNOLOGY
Technology is the future - but the integration of technology puts you ahead of your competition. By allowing data relating to patient wants, potential problems, and other information to flow, issues and innovation can be spotted sooner.
STREAMLINE THE SUPPLY CHAIN
With technological solutions from across the entire supply chain, collaboration and communication between niche departments can allow issues and opportunities to be identified faster and solutions to be found at pace.
+ What is the life sciences sector?
The life sciences sector includes companies that operate in the fields of biotechnology, pharmaceuticals, life systems technologies, biomedical technologies, nutraceuticals, cosmeceuticals, food processing, environmental, and biomedical devices.
+ Is the life sciences sector growing?
Before the Covid-19 pandemic, the life sciences sector was undergoing consistent growth as industries around it became more dependent on the technology that it fostered. The global crisis, however, has put the sector under incredible strain as demand in certain areas declines to direct its fullest attention to Covid-19.
+ What is the future of the life sciences industry?
The life sciences sector post-Coronavirus will experience long-term structural changes as it adjusts to a change in demand. Technology that alters how we record and monitor health metrics is the biggest change forecasted for the industry. Ensuring cyber security matches this focus on patient data parallels this innovation.
+ What are the trends in the life sciences industry?
Specific trends for this industry include wearable technologies that monitor patient health needs, blockchain, data storage for new research capabilities, data analytics, and cloud computing to revitalise an underpressure industry.
+ How is technology changing the life sciences industry?
The life sciences industry relies heavily on technology - it is the foundation of the latest scientific discoveries powering the sector. That means technology isn’t necessarily changing it as the sector is in a constant state of flux as it adopts new ways of doing things.
Taking things technological might seem a challenging feat set to rock your life sciences business to its foundations, but with Lolly Co at every step of the way, navigating the uncharted territory need not detract from your business. In fact, with our tech-team assessing your business’ exact needs and walking you through each step, you don’t need an map, either! But, if you do fancy finding your way around the future of your business, you can start here.
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