Health Care Current: September 15, 2015 – Moving beyond the hype of analytics, by Deloitte Healthcare
The Deloitte Center for Health Solutions conducted a survey of healthcare systems aiming to find out if they are investing in building analytics capabilities which will equip them for the new era in healthcare. The respondents agreed that analytics are essential to succeed in transitioning to value-based care. However, their approach is fragmented and with limited coordination at the enterprise level. Several respondents indicated that their current analytics programs cover reporting, data warehousing, and business intelligence, but need to also add forecasting and advanced analytics. Although analytics is an investment priority, the majority of respondents admit that their organizations do not have a clear, integrated strategy and vision for deployment of analytics systems.
Personalized Medicine Ultimate Form of Patient-Centricity, by Eye for Pharma
Identifying patient populations that are likely to benefit from a specialized treatment and providing this treatment to them is pharma’s Holy Grail. One-size-fits-it-all does not work anymore: healthcare professionals recognize the need of taking individual approach in identifying the best treatment for a patient. The uptake in personalized medicine is already benefitting some of the big pharma companies – the number of FDA-approved personalized medicines is growing and sales pipelines are in good shape. To ride the wave companies need technologies that will allow doctors to target the right medication to the right patient at the right time while also decreasing costs. Personalized medicine puts the patient back at the center of healthcare as well as informs product and service development.
Solving the Big Data “Abandonment” Problem, by Information Week
Despite the c-suite’s mandate to their organizations to harness big data potential, majority of big data projects fail (Gartner). Adoption is not the problem, but turning the data into value is a major challenge. The article explores different ways in which organizations can overcome current shortcomings and demonstrate higher ROI of their big data projects:
- Aligning IT and business stakeholders: a strong partnership between IT and business owners will ensure the success of the initiative
- Identifying the right data assets: the real challenge with big data today is not its volume, but getting data from multiple sources
- Operationalizing big data projects: getting on board a cross-functional group of people, identifying the right use case, establishing executive governance and process, arming the team with critical technology for every step of the project.
Smart devices will improve pharma sales: survey, by Medical Marketing and Media
A survey by Accenture released on September 15 shows that pharma executives are beginning to embrace the idea of using wearables and smart devices to collect real-world data and facilitate the shift from delivering volume to delivering improved patient outcomes. 73% of the executives polled said they were experimenting with wearables to engage customers, employees and business partners. The growing adoption of new technology reflects the high hopes of the industry that collecting real-word data with smart devices will enable companies to improve patient care, promote adherence to prescription drugs and enhance relationships between pharma and customers.
The use of wearables is a signal of something more than just aspirations for improving pharma sales and brand awareness – using data from smart devices represents a paradigm shift in pharma business model. 85% of respondents said that intelligent hardware will help them move from selling drugs to selling value to patients.