As pharmaceutical companies near the threshold of a new health economy, Financial Times (FT) Live and Infosys invited leaders in the sector to explore the digital evolution of pharma. They explained how digital transformation, which was previously on the backend, is driving rapid transformation across all touchpoints of the pharma chain. In the present, it has witnessed an evolution, cementing its position in the current economy and continues to receive investments directed toward improving patient journeys and commercial platforms.
The Role of Data
The discussion pointed out how a French pharmaceutical and healthcare company has been assimilating digital transformation by simultaneously integrating three key pillars: new data foundations, cloud migrations, and looking at the application landscape. Data analytics has been a central player here in boosting efficiency and building speed in business, showing the importance of data in successful IT integration. Going forward, manufacturers need the capability to successfully leverage data. Today, a large number of investments are trying to ensure democratized, harmonized and good-quality data across the organization. This is of high priority, as inaccurate data can provide insights that are unusable, which can only be resolved by investing in the right technology.
The current patient-centric ecosystems for healthcare and life science companies require looking at data from a different perspective. Pharmaceuticals can utilize this transformational nature of IT and data analytics to change the entire game: from enhancing drug cycle time and democratizing high-quality data to making patient journeys more seamless. For example, a big medical devices company collaborated with Infosys to create a software as a medical device (SaMD). The AI-powered platform has improved the health outcomes and journey of patients, allowing them to access personalized diabetes management. These capabilities hold the potential to be transferred to other pathways such as oncology, renal failures, and respiratory to name a few.
Looking to The Future
With the mounting global challenges amidst the need for digitization, success for pharma is defined by adapting to uncertainty. And achieving this is fully based on the adoption of agile tech, tactical collaboration and human transformation. It starts with recognizing the shift in the ecosystem, followed by mapping a proper strategy. Throughout this digitalization, the real transformation has to happen in terms of the workforce, identifying, planning with and empowering personnel that can understand data latency and operate in the target state.