The Agile Elephant defines digital transformation as “a change in leadership, different thinking, the encouragement of innovation and new business models, incorporating digitization of assets and an increased use of technology to improve the experience of your organization’s employees, customers, suppliers, partners, and stakeholders.”
It’s a shift in behavior and processes that is affecting all industries, including the pharmaceutical and healthcare industry. Digital is empowering patients to play a more active role in their own care and making processes more efficient for providers. Here are 6 ways that digital is transforming the pharmaceutical and healthcare landscape.
1.The efficacy of treatment is now transparent
No longer are major pharmaceutical companies the sole provider of information surrounding how their products work in the long-term. Recent digital transformation trends provide both patients and companies in the pharma industry with unparalleled access to information surrounding the impact of a healthcare strategy or pharmaceutical product, and how it may impact their overall well-being and everyday life.
Online information platforms and communities enable patients and their loved ones to discuss treatment progress while some mobile apps are able to track how a patient is affected by a prescribed therapeutic measure. These sources provide analytics experts with actionable insights into the safety and efficacy of a drug or therapy. According to McKinsey in an article entitled The Road to Digital Success in Pharma, the first step in adapting to such an influx of valid information is to develop processes to give you the ability to use this new information effectively. By doing so, both old and new pharmaceutical companies ensure that they stay the “main source of authority on the performance of their product.”
2. Data visualization to increase accessibility
Data visualization isn’t just aesthetics, it’s grounded in real results and industry findings. With an expanding amount of content available online daily, the way people access and process information is changing. For new pharmaceutical companies in the midst of the digital transformation of their organization, this means that how information is communicated and shared is crucial to the success of the organization. Sharing data-based intelligence must be done in a way that is tangible and accessible to a broader audience, not just the scientifically-minded among us. For example, data visualization could enhance how patient data is communicated to them, or how certain medications and treatments are affecting different areas of the physiological system.
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