Three Opportunities for the Healthcare and Pharma Industry

Opportunities for the Healthcare and Pharma Industry

Three opportunities which could bring revolutionary changes to healthcare and pharma industry

Two factors are constantly pressurizing the costs and margins of the Healthcare and pharmaceuticals world – demographic shifts and the tech-led competitions. In a discussion with Consultancy.eu, the Manager at a Spanish management consultancy Alfa Consulting – Joaquim Grau, explained the three trends that might bolster the healthcare industry:

New age communication 

Grau suggested that healthcare providers – in an era of social network, apps and other digital communications mediums could provide the patients a better healthcare journey by tapping into more communication channels. He also suggested that doctors, patients, and other health professionals can now turn onto these new tech-avenues to stay informed, interact and resolve discrepancies. Companies might also use these apps rationally to allow the selection of messages customized to each individual profile before sending them the relevant information. However, he also warns, “it is important to keep an eye on the privacy of patients… We must not forget that this is a sector with many restrictions and compliance limitations that also apply to the online world.”

Altering organizational models

To cope up with changing and complexing of environment – new and innovative organizational models are emerging. For Grau, it is especially the case for those who are light-footed and are able to adapt to new emerging opportunities and challenges (agile development model). It is making a big impact on healthcare and pharmaceuticals, quick decision making in operations and ultimately making people empowered to improve the way in which they work. It is also improving the business process by getting into changing consumer demand. Grau also added, “The development of equipment management systems that promote self-management, enabling the creative development of its members must also be a target. Defining and standardizing the process for the development of cycles which reduce the time dedicated to organizational activities, administration and repetitive tasks are also important.”

The power of data science

Data science is emerging as a moving force for any industry in this digital era. By properly formulating this new technology it could serve a massive potential for the healthcare industry. In 2014, NHSS reportedly invested £640 million on consultants alone in a ‘cost-saving’ practice as the institutions bid to access such analytics on where resources were best used. The appropriate use of technology, in this case, could eliminate such a cost. He also explains that with the development of the analysis and visualization tools such as Tableau, Qlick and Power Bi, have allowed the complex statistical analysis and attractive designs tools access to all the users.

Daniel is our UK-based freelance Editor. As part of our quest towards credible news, Doctor's Clinic Blog India affiliates with individuals from other parts of the world to provide an in-depth focus on essential topics. Daniel received his degree from the University of Sheffield, and since then, worked to multiple sites as a freelance contributor and editor.

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