Like teenage girls unsure of the latest fashion, doctors are susceptible to the social influence of their peers when it comes to prescribing both new and repeat drugs, according to a new Wharton School study. And not unlike said teens, peer influencers change over time. With doctors, however, the study found that the changes occur as a drug moves from new and risky to recurrent status.
The notion of “disruptive innovation” was first used in 1997 by Clayton Christensen (Harvard Business School) to describe an innovation that helps create a new market and value network, and then goes on the destroy what went before. Businesses in the sector have to choose between maintaining status quo (risking extinction) or developing a brand new business model to fulfill its clients’ future or unmet needs. In just a few years, digital technology has profoundly destabilized many sectors: The movie and music industries have been seriously hit by illegal online copies V
“Helping European cardiologists keep up to date. How they choose to do that is changing fast, however, as digital channels create new options for learning, as opportunities to attend conferences are affected by transparency in the...”
There can be no better insight into Pharma’s digital ambition than building a digital agency from scratch with pharmaceutical companies as the core client base. I have been working in pharma my whole career (now some 16 years) and feel very fortunate to have been around at a time of unprecedented change as technology has fundamentally impacted all aspects of the pharmaceutical business; from drug discovery and clinical trial development, through to the very nature of the product as health technology builds an evidence base and the focus moves from illness to wellness.
Having spent the last two years building The EarthWorks I have reflected on how great the impact of digital health has had on pharma companies. When I look at what The EarthWorks are asked to do the strategic direction becomes clear. Over 70% of our output is in health technology design and build. Principally this is focussed on clinically impactful support for patients, however there is also a significant proportion of this work focussed on supporting healthcare professionals - with the best work providing integration and a symmetry between the two. When I first became a marketing manager in a pharmaceutical company, the vast majority of the focus and budget was on marketing materials. This is still an important part of what pharma does but the investment and the excitement seems to have irrevocably shifted.
This got me thinking about how the digital health movement has impacted pharma. There are a great number of examples, including redefining real world data and challenging the nature of the communication between pharmaceutical companies and healthcare professionals. However I think there are two principle pressures stemming from the rise of digital health that is impacting pharma in 2015:
A quick scan of pharma industry articles and blogs often get me excited with all the chatter of new app features, hot new social communities offering patients deeper ways to connect, or the promise of robust and actionable data we can incorporate from all of our quantified-self gadgets. With all that vigor and excitement we strive each day to deliver the best thinking for our client, embracing all these elements as we counsel and guide strategy. But all too often I see brand managers holding bac
In a claim made by Pharma industry heads speaking at a recent digital healthcare event in London, pharmaceutical companies need to make more of an effort to move beyond just manufacturing pills and embrace digital health, or “risk failing patie...
Bertalan Mesko highlights some of the key trends that are set to change our approach to health and wellbeing – and the way pharma does business. It's fascinating to witness how disruptive innovations can truly change the way healthcare is delivered...
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