5 Trending Pharma Articles That Move the Meter
“The best thing about the future is that it comes one day at a time.” said President Lincoln.
In light of the growing complexity and ever increasing volume of available data in the healthcare market, it is time to review methodologies used for analyzing business information. Traditionally, Commercial Operations in the healthcare industry didn’t approach analytics from a business process perspective, but rather with a general-purpose reporting approach, which often resulted in a disconnect between the problems encountered in the field and their potential drivers. To gain a broad, in-depth understanding of Commercial Operations, it is necessary to bring together the abundance of information pertinent to business users, analyze interconnections, understand inter-dependencies, and review information in context of the business process in question. In this context much is to be learned from the consumer goods market. Our first article this week deals with what Pharma can be taught from retail growing increasingly customer-centric and how this can be applied to patient centricity.
This week trending articles cover nine lessons Pharma can learn from the battlefield, insights on sales force effectiveness, an interesting view on the role of patient associations and… as mandatory… the latest on wearables.
1. What Pharma Is Learning From Retail: Part 1
Written by Anna Rose Welch, Published on Clinical Leader
President Obama announced last week the “Precision Medicine Initiative” that will among other things establish a voluntary national research cohort. Participants in this cohort will be responsible for providing “diverse sources of data — including medical records; profiles of the patient’s genes, metabolites (chemical makeup), and microorganisms in and on the body; environmental and lifestyle data; patient-generated information; and personal device and sensor data.” The Pharma industry has been no stranger to data’s potential in the struggle to personalize medicine. But with the growth of patient advocacy groups and the Precision Medicine Initiative, Welch believes the industry is well on its way to matching the ongoing efforts of the retail industry. Read the article to discover how retail and Pharma have grown a like in several ways.
2. Adapt or Die: Nine Pharma Lessons from the Battlefield
Written by Rick Lynch, Published on PharmExac
Rick Lynch, the Army General who led the Iraqi ‘surge’ campaign, cites nine lessons that pharma leaders can apply in today’s come-from-behind struggle for market share. In a VUCA (volatile, uncertain, complex and ambiguous) world, discover what Lynch’s observations are on how to make organizations more adaptive.
3. What really moves the meter?
Written by Nick de Cent, Published on Eyeforpharma
Despite a perception that sales force effectiveness is dead, a return to fundamentals will reinvigorate performance, Marty Nicholas of Blackdot tells Nick de Cent. These past few years, many Pharma sales leaders have effectively been administering the last rites to the concept of sales force effectiveness in the face of the digital onslaught. However, in Nicholas’ opinion core SFE principles are actually alive and kicking and continue to represent a powerful mechanism for achieving more repeatable and predictable sales performance.
4. Patient Associations are not customers!
Written by David Laws, Published on Eyeforpharma
Laws relates to patient centricity and its many routes stating forcefully that patient associations are not one of Pharma’s customers. In his opinion, the reality of engaging with associations presents a huge potential for conflict of interest and can in no way be a substitute for actually working directly with individual patients and caregivers. Read on to discover who should be “the voice of the customer” and what can reasonably be expected of the various stakeholder groups in the centricity equation.
5. 2015: The Year of the Technologically Engaged Patient?
Written by Amy Bucher, Published on WIRED
In this article, Bucher questions what’s in store for 2015 when it comes to e-health. She takes the position that in 2014, wearables and the quantified self continued to grab headlines, from the de-emphasis of the Nike Fuel Band to the launch of Runkeeper’s Breeze activity sensor app to the backlash against attempts to feminize trackers by making them pretty. The Affordable Care Act continued to change healthcare, most notably when state insurance exchanges became live. And “big data” was a phrase on many people’s lips, with major healthcare players such as the Mayo Clinic and the MD Anderson Cancer Center partnering with IBM’s Watson to bring big data to the bedside. Read the article to learn more on the future of the technologically engaged patient.
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The Lifecycle of Implementing A Holistic BI Solution
Written by Danielle Arad, Published on Verix.com
Organizations are keen to resolve one of the most painful challenges of having a unified repository of analytics and reporting. The hype behind out-of-the-box BI tool capabilities and promise can be overly exaggerated and neglects the huge amount of expensive work, time and resources needed to successfully implement them. In this article, Arad simplifies the understanding of the evolution of BI towards a true, unified solution and presents the required process, costs and alternatives.