Over the past decade, pharma’s interaction with digital health has grown more sophisticated and purposeful. In the last year however, amongst the general economic upheaval that 2022 ushered in, innovation wrapped around the drug has become the object of budgetary scrutiny in pharmaceutical companies. In many ways, the scrutiny is justified; a great number of digital health initiatives backed by the pharmaceutical industry have yet to provide a return on investment, demonstrate significant adoption, or prove true value to the end user.
So why continue to invest in digital health at a time when budgets are shrinking?
The HealthXL team is tackling this question in a new report focused on the next phase of digital health in pharma titled, ‘Pharma 3.0: Doing Digital Health Better’. With contributions from over a dozen experts across pharma and digital health, our team analyses the root causes of pharma’s challenges and provides a framework to guide the industry in building stronger foundations for digital health.
Pharma can iteratively build and reap value from its digital health initiatives provided they move from opportunistic to truly strategic initiatives, and focus on the right use cases for the business, and the genuine needs of the end customer.
Value capture with digital health happens at many different levels – unparalleled access to real world data, new disease insights, tech-enabled patient supports and remote monitoring, to name but a few. If done right, digital health will undoubtedly feed into the bottom line and improve healthcare.
Our new report will arm you with the information needed for pharma’s next digital phase. It includes insights on:
- Building a framework for better digital health solutions
- Determining the fit for digital in pharma and moving away from ‘one size fits all’
- Choosing success metrics that resonate
- Rethinking internal resources and partnering for a successful ecosystem
- Tailoring business models to achieve long term objectives
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Access the full report here.