Patients’ needs around the world sound pretty simple: they need best therapy outcomes, the right drugs and devices at the right time, and the costs to be covered by payers or at least be affordable.
The truth is that fulfilling these needs is challenging for the life sciences industry. Complexities include:
Moving forward, life sciences companies must analyze genomic, proteomic, scientific, and other data in real time, collaborate with research partners effectively, align demand and supply efficiently, establish global process and quality standards, and provide a unique customer experience to the entire target market and ecosystem. To achieve this as quickly as possible, simplifying processes wherever possible will be the first step.
But simple is not easy! How can life sciences companies fight complexity? The following areas are the best starting points on the journey to simplification:
These examples show that running more simply enables life sciences companies to achieve benefits such as accelerated growth rates, optimized spend and working capital, compliance across the enterprise, and increased market share and customer loyalty. Life sciences companies can also accelerate integration processes after M&A and maximize shareholder value by using flexible and real-time analytics on one single platform across the enterprise.
Simplification is not just a bold idea; it is becoming real across the industry. Here are some successes of first movers: Medtronic has accelerated global complaint handling and global sales processes significantly, MKI analyzes genomes quickly, Himedia Laboratories generates reports fast, and Roche Diabetes Care facilitates personalized health management.
These are just a few of many best practices in the dynamic life sciences market. What are your observations and greatest stories? Please let us know your thoughts in the comment area, and discuss with us on twitter @SAP_Healthcare!
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