Life Sciences

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.

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People Placement constitutes the activities related to assignment of sales reps, following any major sales force territory alignment or change in the size and structure of sales force. Placing the best available rep into each territory is critical to the success of any sales force realignment effort.

Numerous publications, blogs, etc. have reported how quickly the pharmaceutical industry is changing and how manufacturers need to modify their approaches and structures to survive the competition. The pace of change necessitates that Pharma companies undergo a transformation; with organizations expanding the capabilities of their commercial models through smarter experimentation, scalable measurement, faster learning, and dynamic decision making regarding their commercial models.

Prescribing decisions in the institutional setting differ considerably from the retail setting. As noted in the figure below, HCPs are influenced by several parties, both internal and external. While the health of the patient and safety of medications continue to be of paramount importance, over the past several years, financial considerations have increased attention on quality of care. No longer is a hospital’s survival dependent on the “hotel model” (where higher occupancy equals greater profitability), rather insurance companies, in an effort to control costs, are incentivizing institutions (IDNs) to keep patients healthy, reduce the length and frequency of hospitals visits, etc. Further, as new information systems and technologies are implemented (many driven by requirements outlined in the Affordable Care Act) the ability of key payers to manage costs and processes will improve. This will continue to drive the behaviors of healthcare professionals and their employers.

Talk about famous last words. When we last left this topic, I was wrapping up coffee with my colleague, Rick, with the ominous, “Once we get your data organized …”