Healthcare industry is a huge landscape and pharmaceutical industry is an integral part of it. Pharmaceutical industry stays at the heart of Healthcare space that’s just beyond the medicines because it is the place where researches are done, pills are tested and thereafter the drugs becomes available in the market for treatment.
The work and responsibility of pharmaceutical companies made it mandatory to keep pace with technology advancement. Being aware of the disruptive potential of technology, the companies have started taking the digital initiatives to scale up.
Combining the power of mobile, big data and sensors, the industry is doing wonders and results are groundbreaking, which led many pharmaceutical companies to rethink business strategy and repurpose the products/services.
Here are the disruptive benefits that drive value to the pharmaceutical industry:
– Making treatment outcome based
The strict government rules and regulations are putting more pressure on pharmaceutical companies to create the cost-effective pills that improve patient’s health outcomes. Here, the mobile applications come to the rescue.
According to Skyscape, “70% of physicians rely heavily on their mobile device for clinical decision support.”
When pharmaceutical companies start selling their drugs along with a digital solution as a complete package, eventually their sales and outcome gets better. As the sensors attached with drugs would collect the data regarding patient’s health, analyze it and then send it to the healthcare providers remotely. This way both parties needs get served and Pharmaceutical industry as well.
For instance, WellDoc launched BlueStar application, the first FDA-approved mobile app for managing type 2 diabetes.
– Getting health data for research
Gone are the days when patient’s health data history remain confined to the wall of healthcare establishments. With the emergence of mobile health apps or wearable health and fitness devices, the companies are getting access to the crucial data and collecting the data for further research. Even, the open discussion is held on online communities to get valuable insights out of the health data, which in turn help the pharma companies as well.
– Know the product performance
As, aforementioned, the control over health data that’s pharmaceutical companies keeping for the years is now weakened. Independent online channels are openly sharing and discussing the patient’s health, impact of treatment, patient’s experience and more. The aggregated data would sometimes help the companies to know the performance of the drugs in general. This real-life experiences help in further analysis and generate a new insight into drug safety and efficacy.
– Targeted marketing
Mining the wealth of data and driving insight out of prescribing behavior, patient’s profile and the region where increasing number of prescriptions of certain kind are filed, help pharmaceutical companies’ Salesforce to know where and which prescription healthcare providers prefer. This way drugs marketing would be improved and become target-oriented.
The final word
Mobile technology is bringing a new wave of automation in the pharmaceutical industry and streamlining the processes with more transparency. Leveraging digital innovation, pharmaceutical products and services can be offered to the patients and physicians in a more personalized way.
To capture the value, pharmaceutical companies need to monitor the business model, their strategy and be clear with a vision of what digital changes they want to integrate in. If you find digital talent scarce, turn to a leading mobile app development company that can help you become a digital center of excellence.