With the increase in the number of touchpoints for a Healthcare Physician (HCP), it has become more important for pharmaceutical companies to personalize marketing efforts at the HCP level. Segmentation forms the backbone of customized marketing and is a critical step in converting brand strategy into actionable tactics. A robust segmentation process enables effective targeting – a potential group of customers receiving communication through preferred channels from the pharmaceutical companies.
Rid your binge-watching boredom through artificial intelligence and machine learning – a leading cause of the pharmaceutical industry's best innovations and advancements.
As the projected weeks in quarantine rapidly rise, the amount of absorbable content in your queue is likely dwindling. With not much left to consume, now is the time to indulge yourself in all the titles from our list of the top seven artificial intelligence (AI) and machine learning (ML) content pieces that your brain can muster. After all, AI/ML innovations are leading the future healthcare landscape for faster, more efficient data analysis and commercial business operations, which in turn improve healthcare physician (HCP) engagement and drive better patient outcomes.
As of April 20, there are 2,440,528 confirmed coronavirus cases and 167,592 deaths globally. Currently, the U.S. continues as the hardest-hit country in the world, with 749,666 total cases – 238,831 of which are in the current epicenter, New York. In deciding timelines for reopening economies, officials from affected countries, including Italy, Spain, China, and the U.S., are relying on AI/ML-powered predictive models to determine next best actions. Given the unpredictability and rapidly-changing pandemic climate, AI/ML is necessary to overcome COVID-19 eventually.
As per a systemic review1 published in Annals of Internal Medicine, assessing the impact of interventions to improve adherence, it was found that about half the medications prescribed for chronic diseases are not consumed as directed by the physician, and around 20-30% of prescriptions are never fulfilled. This non-adherence results in over 125,000 deaths every year as well as increased emergency department visits and hospitalizations, which costs the American healthcare system to the tune of $100 to $300 billion1.
“Hi Caroline, this is Jeff! You reported feeling heavily symptomatic yesterday. I wanted to see if you are doing better. On a scale from 1-10, how would you rate your pain today?”
Today more than any other day, having started my career in a GE company (the erstwhile GE Capital International Services), I have this involuntary urge to pay my tribute to “Neutron Jack” in my small and perhaps largely insignificant way. But yet, I must, as the words come out, “Straight from the Gut” for the big man, who has left an indelible mark on every individual that he has remotely touched through his rich legacy, leadership, and philosophy.
The world of health and medicine has broken countless barriers over the last few scores. Life sciences companies have continued to invest significantly in their research of globally corroding diseases, drug molecules discovery and development, and closely monitored clinical trials, to create industry-approved blockbuster medicines. These drugs, gaining precision with time, are curing more diseases and giving patients a chance at better lives. The pharma journey, however, gets complicated with more in-depth clinical and genetic research, as companies continue to find themselves facing more significant ‘unknowns’ than ever before.
The life sciences industry has always been propelled by research and innovation, more now than ever, with breakthrough drug development, massive investments to expedite drug launches, and opportunities for medical advancements. To put this into perspective, let’s consider the clinical development trends for the last ten years. There were more than 16,0001 assets in clinical development in 2019, and almost 1,7002 investigational new drug applications (INDs) were filed, up from 9,700 drugs in clinical development, and 1,300 INDs filed in 20103. Along with substantial investments in drug discovery and research and development, life sciences companies are also transforming in the areas of data management, business intelligence, and analytical capabilities by adopting digital transformation, artificial intelligence (AI), machine learning (ML), NLP (Natural Processing Language), and most pertinently, automation.
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Do you have a bookworm or someone who loves to learn on your gift list? Perhaps someone interested in how artificial intelligence (AI) and machine learning (ML) are breaking the traditional barriers in healthcare? Or, maybe you want to grab a hot cup of cocoa and a book on how AI is impacting healthcare to busy your mind on a cold winter day.
Data and technology are etching a new DNA of each touchpoint of our lives today. As we live and breathe, the fourth industrial revolution and its fusion of technologies are dissolving the boundaries of physical, digital, and biological spheres1. As humans, we are more connected than ever before, using extremely advanced technologies, creating unbelievable amounts of extremely granular data. This data explosion is feeding into AI-based quantum computing engines for instant and highly-personalized insights, which help us make better decisions. To operationalize our informed decisions, Internet of Things (IoT) and its connected experience step in to deliver instantaneous desired results. As customers, we are embracing these advancements towards elite customer experiences. As professionals, we need to follow suit, by leveraging data and technology to create innovative products, operational efficiencies, stronger customer equity, and higher profit margins.
