Businesses today are in the midst of a migration toward a new business model that places a premium on using social platforms to enhance brand reputation, provide customer service and strengthen relationships with key stakeholders, both externally and internally. This adoption of a new social business model is no small undertaking for corporations, but it is undoubtedly the direction in which top companies are heading, according to an in-depth study on social media trends released today.
Social business is still being defined, but at its core, it is about leveraging social tools, technologies and strategies that transform the way enterprises interact with internal and external stakeholders to jointly generate value, according to a study presented jointly by FedEx and Ketchum, a communications agency, which analyzes the changing impact of social media today. The study updates and expands upon research findings first released in 2010.
Social media tools have radically transformed the way people engage with the world around them. That ethos is now being internalized by businesses, the study found.
Pharmaceutical Industry | NEWS | General | NICE to offer early advice to payers about new medicines - Will provide evidence summaries ahead of publishing its formal health technology assessments | PMLiVE...
'Social collaboration value can be measured in a variety of ways by pharma.
Patient-reported outcomes, including adverse events or reactions and quality of life, are used to determine if a product is safe and whether it should be reimbursed. If patients are willing to share this information socially, there is a largely untapped opportunity to collect data for both product and market research.
Additionally, patient advocacy groups can leverage social collaboration to influence product reimbursement and pricing.
There are also the very obvious benefits to be gained in identifying potential adverse events earlier.
Think for a moment about the impact of the lack of collaboration.
When a chronic disease impacts less than 1 percent of the population, the ability to learn from others with the disease, identify specialists, or pinpoint the correct diagnosis can be invaluable to patients, caregivers, and healthcare professionals.
With social technologies in place to facilitate collaboration, innovation for new treatments could be fostered through global research communities within and across organizations, and researchers might avoid setbacks by learning from others faster.'
This is an article about the problems the pharmaceutical industry is facing and offers some solutions.
- Listen. In today’s incredibly over-stimulated society, just shutting up and listening is a rare activity by individuals, much less an entire industry. But if pharma would listen – truly listen – to its customers, and genuinely work harder to meet their needs, the industry could go a long way towards better understanding its stakeholders.
- Put patients in the center. Of your business model. Of your product portfolio. Of your products’ marketing and communications plans. Of your universe. Make no mistake: without patients there would be no pharma.
In April 2001, Directive 2001/20/EC (the Clinical Trials Directive) came into force with the objective of harmonizing clinical trial processes and detailing the legal provisions for Good Clinical Practice (GCP) and Good Manufacturing...
This is an article that highlights the challenges to social media in the pharmaceutical industry and the benefits of overcoming them.Social media for the pharmaceutical industry leaders in particular has huge potential for demonstrating the benefits of certain medications, but there arises a possibility of irresponsible reporting, which could have dire implications.
There is no question that social media for pharmaceutical industry can deliver. Currently, the marketing processes follow the intentions of the regulatory bodies which, despite being outlined for what is believed to be for the good of the public, actually prevent information that is prospectively far more expedient from being released. Were the reins to be loosened a little, and the potential social media risks for pharma managed better, the resulting benefits would outweigh any conceivable disadvantages.