5 Top Articles on Why Pharma is Set to Explode with Data Driving Big Changes
What do patient care, medical skills, social media, big data and wearables have in common? Seems like these are a mouthful of topics that don’t really connect. You may be surprised to discover that the common denominator is data, which is changing the Pharma landscape as we know it. Whether it’s Pharma’s resistance to social media or attempting to encourage change via the wrong channels, data, for better or worse, generates information that provides deeper insights into what is working, what isn’t working, and what could work if the right adjustments are made.
1. The Problem with Satisfied Patients
By Alexandra Robbins, published on The Atlantic
The underlying change factor for improving patient care
A change in the recent Affordable Care Act has resulted in a dramatic shift in healthcare. Since Medicare began withholding 1 percent of its reimbursements late in 2012, based on hospitals’ patient satisfaction scores, healthcare facilities have been implementing various strategies to boost patient satisfaction. However, data shows the outcome hasn’t resulted in better patient care, since many patients assess nursing based on nonsensical issues. For example, one patient rated a nurse poorly because the hospital didn’t carry Splenda. What is showing promise in terms of bettering patient care and satisfaction, on the other hand, is improving a better work environment for nurses and increasing staffing rates. As a result of these strategies, outcomes have been shown to improve patient care, lowering hospital stays and fatigue-related mistakes.
2. The Skills Doctors and Nurses Need to Be Effective Executives
By Sachin H. Jain,published on Harvard Business Review
New skillset required for medical personnel
As the face of healthcare changes, making room for startups and innovative healthcare-related services, doctors and nurses are being asked to play a different role – as the key executives heading up these new enterprises. As a result, their influence is also growing. However, for nurses and physicians to be successful in these new positions, they will also need to learn new skills, as traditional roles generally do not require an executive mindset. In a management role, individuals have to learn how to execute and manage operations, lead people, set strategy and more. Those who can successful navigate this new skillset will ultimately be successful.
3. Don’t Use the ‘SM’ Words!
By AJ Barroso, Digital Marketing Manager, Sarah Lemarchand, Digital Marketing Executive, emotive, published on PMLive
Social media not a comfortable subject
While every other business enterprise is scrambling to compete with social media, pharma companies have been notoriously slow to warm to it. Social media’s power and dramatic growth, however, show that it’s here to stay. Healthcare organizations will do well to adapt to the new landscape of communicating with their audience and harness the power of social media by listening to what people want, following key Pharma leaders, and gathering influence along the way.
4. Why Healthcare Big Data Analytics Needs the Internet of Things
By Jennifer Bresnick, published on HealthITAnalytics
A brighter future for big data
Big data in Pharma is generally still in its infancy. While many organizations have a vision for big data, few of them have been able to meet their objectives. In this way, the Internet of Things – a series of devices or collection devices connected to the internet – may be able to bring these objectives to fruition. That’s because in its present state, patients are demanding more than Electronic Health Records, for example, can provide. But with the Internet of Things providing an infrastructure upon which to build the data, it will be possible to give patients what they want: instant access to patient information on their smartphones, fitness wearable, or iWatch. Healthcare organizations also benefit from the ability to stream patient-generated data into their systems to generate data that delivers concise, real-time reports about patients’ activities and statuses that create actionable outcomes.
5. How Wearables and Mobile Health Tech are Reshaping Clinical Trials
By Mike Capone, published on Venture Beat
Clinical trials get a reboot
Clinical drug trials are famous for their high failure rate. Now, the costly process is set to get an overhaul due to the potential of wearables for transforming the process. Wearable devices and mobile technologies show lots of promise for offering insight into how to better conduct trials and drive the value of the data. With access to this disparate data, organizations can use it to generate advanced analytics in order to reach better decisions. Ultimately, this process will help to push the most effective drugs to market, in less time.