Problem statement for the industry
Pharma companies are pursuing the ultimate moonshot goal of changing the way medicines are developed so the right treatment can be delivered to the right patient at the right time. Thus, enabling the delivery of highly personalized healthcare, which effects the Pharma, Life Science and Healthcare verticals.
As 2021 is now underway, here’s what you can expect from healthcare-centric revenue cycle projects. Budgets and spending may continue to get trimmed throughout the year to offset the financial difficulties and lower margins COVID has brought, but IT and RCM technology projects will be mostly untouched, and may even get bumped-up in priority.
Healthcare has relied on interface engines for decades to transport and transform data between systems. These monolithic systems are typically big, complex and require highly specialized skills to implement and operate. In most cases they represent a large capital investment and are difficult to replace because of how interwoven they become in the organization.
What is the key to driving digital innovation with data analytics—and where should healthcare leaders begin?
What is the key to driving digital innovation with data analytics—and where should healthcare leaders begin?
According to a recent Accenture analysis, two out of three life sciences organizations struggle to achieve optimal return from their investments in cloud computing. This is unfortunate, considering that the cloud is clearly emerging as a game changer in pharma, biotech, medtech and other companies in this space. In pharma alone, the cloud computing market is expected to reach $12.1 billion in 2022, up from $4.7 billion in 2017.
We’re in an era where pharmaceutical companies can predict whether an individual will switch to a new prescription drug based on data captured from that person’s Twitter feed. But many life sciences organizations struggle to rapidly analyze the treasure trove of data they now have access to—and it’s holding them back from innovation.
Data analytics and data science are the buzzwords of the moment for life sciences organizations, and for good reason.
In the life sciences, effective data management is a major factor in patient safety and successful research. Unfortunately, many organizations are relying on outdated methods to manage their large amounts of complex and dynamic data sets; leaving them vulnerable when it comes to compliance.
As the world of life sciences and pharma advances, digital technology can play a critical role in unleashing new potential for all stakeholders. But with constant technological changes taking place, staying up to date on trends is often difficult. According to recent estimates, we are witnessing a monumental shift from Web 2.0 to Web 3.0, which has profound implications for pharma and life sciences professionals alike.
