Fall Pharma Round-Up: Pricing Scandals Are the Least of Its Worries
With September’s flurry of media coverage over drug pricing, pharma has a unique opportunity to rescue its spiraling reputation. Wearables, third-party data analytics providers, and commercial operations account management are just a few hot tickets that hold a lot of promise – so does the marriage of Big Data and Big Pharma. Did you miss any of these hot news stories in the past month?
1. The Need for Smart Data
By Adam Hill, published on eyeforpharma
Third-party help: The saviors of analytics?
Are you having a hard time making good use of your data? You’re not alone. Head of AstraZeneca’s Advanced Analytics Center, James Weatherall, purports that there are two key issues the industry is facing: the need for smart data, not big data, and the need for skilled people to generate these insights. With more than a million skilled workers lacking in this segment of the industry alone, Weatherall predicts that data analytics solutions will step in to fill the void.
2. Why Your Company Needs Data Analytics
By Daniel Burrus, published on LinkedIn
What a leading technology expert has to say about data analytics
Your organization needs data analytics, or so says Daniel Burrus, a leading technology consultant. The amount of data and information is growing at an exponential rate. In this reality, data analytics is the only way to turn all this flood of data into usable insights. Lacking these insights, your business will struggle to improve operations and management. Now that’s a dismal future.
3. The Rebirth of the Pharma Sales Rep
By James Crowley, published on pharmaphorum
Helping your sales team reinvent themselves in light of market changes
Much was said about the “end of the pharma sales rep role”. But changes in the industry do not have to mark the end, but rather an opportunity for a new beginning. Turns out, ingenuity and innovation will define teams that make it through the next evolution of sales. The way sales teams define and service customers will either drive success or guarantee failure. It all boils down to being responsive and relevant.
4. 7 Account Management Best Practices That Will Make a Difference
By David Laws, published on eyeforpharma
Is your organization dreaming about account management?
Pharma is taking a cue from other industries employing successful account management for commercial operations, and taking it on as its own. What separates those organizations dreaming of practicing account management and actually doing it? These seven best practices help organizations achieve it.
5. Big Pharma Hands Out Fitbits to Collect Better Personal Data
By Anna Edney and Caroline Chen, published on BloombergBusiness
Wearables take center stage in drug trials
With almost 300 drug trials testing out wearables to record patient behavior, Fitbit and other devices are helping speed time-to-market. With the amount of personal data collected, pharma organizations are looking to streamline the process and gather improved insights about the drug’s performance. Could wearables be the revolution pharma needs to advance R&D?
6. Focus on the Fundamentals not the Tools
By Tina Boggiano, published on eyeforpharma
Making good use of wearables
The obsession with wearables has gotten many Pharma companies scrambled and confused as to which tool to develop. According to experts, the way out of this confusion is to change the perspective; stop asking what wearables can do for you, start asking what you can do for patients and providers.
7. Drugs and the Patient Burden: How Far, How Fast and How Much?
By William Looney, published on PharmaExec.com
The high costs patients shoulder to get drugs
Data show that patients are increasingly beholden to the high costs associated with drug benefits. As pharma becomes more patient-centric, the question remains, how far will this patientricity go? And just how high will deductibles, copays and patient costs will get before something breaks?
8. A Timeline of the Turing Pharma Controversy
By Luke Timmerman, published on Forbes
Is it over yet?
The drug pricing scandal of September 2015 may go down in history as the biggest yet. Get an inside look at how the move by one pharma CEO got heightened coverage, the attention of Hillary Clinton, and led to plummeting biotech stock prices.
9. Here’s A Way For Pharma To Prevent Outrageous Generic Price Increases – And Help Its Reputation
By John LaMattina, published on Forbes
How to turn around pharma’s bad rap
Scarred as it is from recent scandals, Pharma needs to find a way out of this black hole of bad moves and negative press, and into the light. How can it get there? In part, it needs to get a handle on generic price increases to ward off future issues like the recent Turing kerfluffle.
10. Roche CEO: Big Data needs Big Pharma, and vice versa
By Tracy Staton, published on FiercePharma
Here comes pharma’s bride
Do you hear wedding bells? It’s high time that Big Data and Big Pharma got together to scratch each other’s backs. Pharma has realized it needs data; however, the reverse hasn’t necessarily been true. By some estimations, tech companies can only succeed in healthcare if they harness pharma expertise. Then, giants like Google and IBM with their expertise in analyzing data will know how to deliver solutions that solve healthcare problems.