The COVID-19 pandemic brought about an urgent need for the biotech industry to adapt to the changing economic environment, especially with the rise of New Science. To do well in this new environment, the biopharma/biotech industry must accept New Science as a source of growth and find ways to cut costs while becoming a business that is ready for the future and can change how it creates, captures, and shares value.
In the wake of the pandemic, the biotech industry is facing a number of big problems, such as the need to change expectations for innovation, the speed at which new treatments reach the market, and rising price pressures.To address these challenges, biopharma companies must shift their strategies and reimagine R&D with digitally powered and patient-centric design using data, advanced analytics, and technology. We help businesses make this shift, reduce costs from billions to millions, aid in adopting new science, and radically change the pipelines for commercialization and access.
Telemedicine companies are well-positioned to lead the transformation in Digital Health due to their unique understanding of therapeutics, patients, and providers. The increasing popularity of digital devices, many of which are already in the hands of consumers, is driving growth. However, without the right digital foundation to support these companies internally, digital insights will be difficult to leverage to create a comprehensive Digital Health solution. Four key technology trends, including WebMe, the Programmable World, the Unreal, and Computing the Impossible, are shaping the industry's future. These metaverse components will create truly humanized digital approaches that will bring us closer to meeting the unmet needs of patients, employees, and healthcare professionals in previously unimagined ways.