Digitization plays an
ever-evolving role in today’s era of transformations in the pharmaceutical industry,
featured by increased number of patients, doctors and new entrants. To stay
consistent, companies need to adopt a customized approach and make data the
primary key of marketing. The industry challenges from rising competition and cost
pressures to reducing profitability and changing regulations have impacted the
conventional business model.
Today, pharma companies utilize innovative
technologies to create a team of marketing, sales and digital experts who work
seamlessly to cater to emerging customer needs. Therefore, mobile-enabled e-learningcourses are designed for the sales personnel to foster collaboration with
customers.
Most of the companies in
pharma industry lack a perfect strategy to embrace digital disruptions. They initiate
learning process without a clear understanding of industry needs and market
dynamics. As a result, companies face repercussions when they empower sales
employees with laptops. The most robust technology is interactive mobile app
which is a ready-made platform for workforce engagement and effective healthcare
solutions. Today, pharma companies realize the value of mobile devices which
enable workforce to learn at their own pace as per their customized needs. They
have shifted towards patient-oriented approach to improve communication between
pharma industry and their patients.
Digital
Innovation in the Pharmaceutical Industry
Technological advancement
and digital innovations are developing at a very fast pace. Despite various
barriers, the adoption of new technologies has enabled pharma companies to deliver
‘beyond-the-pill’ services. The biggest innovation in this industry is the
blend of biology and technology, which is known as blockchain technology. It is
a shared record of peer-to-peer transactions created from linked transaction blocks.
Each patient’s data is made a ‘block’ part of a complete patient profile which
is later shared with healthcare professionals. Blockchain technology helps companies store
patient data, improve operational efficiency, secure medical information and
simplify access to that data. It is highly efficient and secure framework for
data sharing with the potential to digitally transform the industry. Blockchain
can benefit pharma companies in different ways:
- · Track movements through multiple channels
- · Enhance drug safety
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