Πηγή: PharmExec
Kaush Gandhi looks at how healthcare and pharma are following other
industries in embracing ‘disruptive’ digital technology.
In today’s globalized economy, it is not uncommon to read about the digital
transformation of an entire industry along with the demise of a once-mighty
corporation. Household names across many industries, such as EMI music,
Woolworths, Thomas Cook, Blockbuster, Ladbrokes and Encyclopaedia Britannica
have radically restructured, or in some cases, gone into bankruptcy, as new
digital entrants have disrupted their traditional business models.
This disruptive thinking, defined by economist Joseph Schumpeter as the
‘creative destruction’ of established businesses, has led to new business
practices. Many of these have leveraged some aspect of the digital environment
and today we have the opportunity to better understand how some of these ideas
have already been applied in the healthcare industry.
In the pharmaceutical industry, decades of double-digit growth seem a
distant memory and many healthcare companies are now looking at new
opportunities to develop a competitive advantage. In the last few years,
healthcare has started to learn and adopt digital ideas coming from outside the
sector. It could be argued that pharma is unusual, in that it has a strict
regulatory framework covering its marketing activities. But the same is true
for other industries, such as financial services, a sector that has also been
transformed by the internet.
Creative destruction has transformed the travel industry and allowed
innovation to flourish. This has been out of necessity for the incumbent
flagship airlines, which, faced with upstart newcomers with innovative digital
marketing, had to react and find new ways to innovate. The internet has since
facilitated a closer relationship between the airlines and their consumers, via
direct selling or travel comparison websites, in the process negating the need
to use travel agents as intermediaries. Now we have companies engaging with
consumers across multiple digital access points, allowing their customers to
book tickets, check in to flights and complete other functions from a website,
mobile website or smartphone application. More recently, Delta became the first
airline to offer check-in and flight status on Facebook and 24/7 customer
service through its Twitter account. Other innovators include KLM, which has
introduced a ‘Meet and Seat’ program, allowing passengers to share and view
other (opted in) passenger Facebook or LinkedIn profiles when choosing
their airline seating.
Healthcare companies are beginning to follow suit. Recent examples include Health Tap, which offers an online interactive physician network providing free
online and mobile answers from thousands of physicians accessed via their
website, social media and smartphone apps. Others such as Sharecare offer expert answers to healthcare questions via their website and social
media platform using consumer friendly language collaborating with leading US
medical institutes, healthcare companies and renowned physicians.
The online retail sector has also been transformed in the last decade,
driven by companies like Amazon, which show innovation and leadership across
multiple sectors. Amazon has introduced a number of customer-friendly
innovations, including 1-click ordering, customer reviews, recommendations and
the hosting of third-party retailers on its website. Recommendations play a big
part in the Amazon offering through customer reviews, complementary products
and even alternative suggestions. Another recent innovation is showing the
purchasing habits of other Amazon customers with a similar profile or interest.
Healthcare websites such as iwantgreatcare.org, zocdoc.com, and others have taken the
idea of recommendations and are allowing consumers to post reviews on different
aspects of their healthcare, including clinics, hospitals, physicians and even
treatments. Others, like PatientsLikeMe.com,have over
130,000 patients sharing their medical records with others, peer-to-peer. One
consequence of this free service is that 10% of those sharing their experiences
have changed their GP. This increase in the patient demand for better
healthcare is radiating across all aspects of their treatment, including
medication and we are seeing many examples of patient communities leveraging
latest social media channels to discuss their treatment. We also now have
websites like DestinationRX.com making the
first tentative steps in applying the concept of comparison price shopping
websites into healthcare with online tools offering services like lower-cost
medication alternatives to existing prescription choices.
In one of the most notable examples of business transformation, Apple,
Napster, Amazon, and others have radically impacted the music business by
changing consumer behavior in the listening and purchasing of music with
dramatic consequences for the incumbents in this sector. The traditional
business model of buying pre-packaged albums from music retailers has been
replaced with the download and purchase of music as either singles or the more
traditional albums with this model now extending into sales of TV programs and
movies.
This replacement in the physical consumption of music and video with
digital downloads has affected retailer and manufacturer alike and led to
significant changes in their profitability and organization.
Although, healthcare has the benefit of being a physical consumable, the
industry has the attention of a number of new digital start-up companies, many
of which are focused on helping consumers attain fitness and well-being with
the goal of disease prevention. Examples include Massive Health, which supports consumers in managing their health using smartphone apps
that leverage the latest social and design trends; another interesting example
is Stickk, which seeks to integrate
consumers’ social media relationships and activities to drive positive
behavioural change in personal well-being and health. We also have Skimble, providing consumers with exercise, dietary and well-being advice and
support. Many of these digital solutions work across multiple platforms and are
heavily influenced by the latest smartphone technology and design trends.
There are numerous other examples in healthcare industry where it has
borrowed ideas from other industries to improve or shape business, and this
trend will only increase as incumbent healthcare and pharmaceutical companies
become more open to new ideas and are willing to accept that our industry like
others is in a state of transformation. We must also recognize the growing
number of new digital start-ups in healthcare who are seeking to reshape our
industry by applying ideas and concepts from Silicon Valley and the wider
digital eco-system. These innovations will help shape our industry for tomorrow
and allow pharmaceutical companies to get closer to their customers and maybe
even the consumer. It is an exciting future for those who can spot digital
opportunities and trends in other industries and can implement these ideas into
healthcare.
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