The Creative Gene
Most of us would agree that the truly great creative people we have met or admired are a little different from the rest of us. Recent breakthroughs in...Read More
“The cheapest patient is a dead patient.”
- From an anecdote shared by Kenneth Munie, Managing Director, Strategy Life Sciences, Accenture
The healthcare sector is facing a GLOBAL revolution. No matter what country you live in, the conversation is the same. Ongoing need to reduce the cost of care, higher service expectations from consumers/patients, and advances with big data in being able to predict disease faster and more accurately all point to the growing international focus on digital health. The use of such technology enables us to build out our focus and investment in health care (wellness planning) where we can proactively enable better health and disease prevention (or early diagnosis), while ultimately minimizing the cost of sick care (damage control) where we must reactively manage a disease once it has been diagnosed.
Digital health is not about having a Facebook or Twitter page or even an app. It is about creating a value constellation: value to the patient (e.g., 5.3 months more of disease-free survival for a cancer patient); value to the healthcare stakeholder ecosystem (e.g., billions in cost avoidance); and ultimately value to pharma (beyond the pill).
In a world where 4 million apps exist yet users only turn to 5 on a daily basis, a key performance indicator in digital health is becoming one of those 5 apps that gets used daily. And that is something we must become obsessed with as we prepare digital health solutions that address the constellation of varying stakeholder needs.
The Digital Health World Congress this week has been a source of inspiration for the healthcare industry as a whole, demonstrating growing successes, contributions and continued investments by hospitals, payors and pharmaceutical manufacturers in moving health technology from being a gadget to becoming a standard of care. While they may not be magic bullets just yet, clear demonstrations from organizations like Medopad, Echo, GSK, AstraZeneca, Google, NHS and Accenture have given proof that digital health can add clear and measurable value to improving care across the value constellation - making patients feel more confident in managing their health and/or illness and with that becoming part of a standard of care with HCPs.
With patients, payors and providers all expecting greater support and more informed experiences, digital health brings with it the ability to deliver true beyond-the-pill value creation for Pharma as part of the value constellation, while also enabling advances in pharmaceutical R&D through the use of partnerships, connected data and deep learning. Companies like Insilico Medicines are leading this pack, and have recently launched Longenesis (in partnership with Bitfury), which is a blockchain-based data marketplace that “provides modular toolsets coupled with integrated advanced Artificial Intelligence (AI) systems to store, manage, and trade life data [derived from] social network data, health data and medical records.”
The topics of focus during the congress led us to three clear digital health opportunities that will move our industry towards the creation of a value constellation via the delivery of INTELLIGENT PHARMACEUTICALS over the next 5-10 years.
These opportunities will require the bridging data, security, technology, artificial intelligence, human design and customer engagement management and don’t come without challenges (as stated by Matt Bona, the Head of Intelligent Pharmaceuticals at AstraZeneca) such as design and development, defining the benefit, scale, compliance and regulation. Even with the challenges ahead, being part of the healthcare revolution is worth it –as is each patient success story that comes with every small and large step we take towards its success!