McKinsey on pharma digital marketing

UnknownSuccessful pharma companies will rethink their business and operating models, transform their cultures and capabilities, and adopt a new, longer-term mind-set that fosters innovation and bold strategic moves. These conclusions stem from three important themes.

These themes strongly suggest that success in the new digital environment will require three big shifts: forging ahead beyond the pack mentality and embracing experimentation and risk taking, developing a collaborative culture and challenging barriers to sharing, and reinventing companies by building capabilities beyond traditional healthcare and updating the operating model.

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1ne:Healthcare will be driven much more by consumers than physicians, with patients increasingly coming to their doctors with more information, parameters they measured at home, and an informed opinion about how they should be treated,” says Dr. Bertalan Mesko, medical futurist and author of My Health: Upgraded (Webicina, September 2015) and The Guide to the Future of Medicine (Webicina, 2014). … “In the next three to five years,” Goldsmith says, “instead of patients just being informed and more inquisitive, they will be actively designing the therapeutic and treatment approaches for themselves with their physicians.”

2wo: As patients assume greater control over their own health, including the therapeutics they take, pharma companies must recognize this new decision-making power and develop better ways to engage them. … But it is difficult because they often don’t know exactly who their patients are and also have a hard time determining exactly what engagement model resonates with their patients.”

…As the customer-experience director at one top pharma company says, “We use different approaches, depending on the target audience, to reach patients across a number of channels that relate specifically to their preferences.

3hree:With health data becoming more readily available in a more digestible form, payors and providers alike will have more information to link drugs to outcomes and inform value-based pricing,” says Amy Abernethy, MD and PhD, the chief marketing officer and senior vice president of oncology at Flatiron Health.

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As Neeraj Mohan of Blackstone Group says, “Pharma companies may think they need to keep their data secure, but not being transparent about clinical trials will in fact put them at a perilous disadvantage in front of patient groups and, eventually, regulators.”

The associate director of US medical affairs at one global pharma company agrees, adding, “One of the most exciting values of digital to the pharmaceutical industry is how technology may be able to supplement or support pharmacological therapies to more effectively address the problem of suboptimal outcomes.”

These insights will drive their technology strategy, which will help them to integrate vast amounts of data from disparate sources and to use analytics or other tools that support the entire business.

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“People like clinical informaticists who know how to work with electronic health-record data, clinicians who understand the science and didn’t just drop out of academia, or data scientists who aren’t just the IT guys in the basement but are business partners with the senior leaders.”

The digitization of healthcare, even in the early stages, is having a real impact on how not only doctors but also patients manage those patients’ health and how pharma companies need to do business.