Healthcare and Pharmaceutical Industry

All the leading organizations in the Healthcare and the Pharmaceutical industry understand how fundamental effective data management and advanced analytics are for their industry.

 

They are always searching for the means to competently use the delicate and significant opportunities in this ever-growing amalgamation of Big Data and Technology, which once transformed into influential insights, can empower every resource within their organization to make smarter, faster and even more accurate decisions.

 

In a critical service industry like Healthcare, the onus always lies in developing new innovative service models, care models and impeccable dissemination of information. Due to standard regulatory changes and various industry challenges Pharmaceutical manufacturers are constantly in the spotlight, while delivering life-changing values to the consumers.

 

In such a dynamic operational scenario, the means to meet critical challenges like globalization, budgetary constraints and multifaceted information management holds the key. Service delivery can only be improved through regular efficient data analysis and implementing ensuing actionable insights.

 

The decisive initiatives that the Healthcare industry should undertake in improving their service delivery model can be based on the following tenets :

  • With the advent of Social Media, Mobility, Big Data Analytics and Cloud Computing (SMAC) the patient-centric Healthcare industry is gradually evolving and revolutionizing. Nowadays virtual clinics are replacing the traditional ones.
  • Healthcare industry generates a huge plethora of data like electronic medical record (EMR), genomic & genetic data, financial data and patient-reported data which once churned out using appropriate data-modeling can generate valuable insights. These insights, derived from the Big Data, can act as a strong base in developing service-models that can provide the highest overall value at lowest possible costs to the patients.
  • Various key Healthcare industry regulatory reforms like Accountable Care Organizations (ACOs) will go a long way in encouraging effective use of data analytics. Using various data like EMR and e-prescribing, physicians and insurance companies will be able to track patients’ outcomes over a long-term period.

 

The crucial initiatives the Pharmaceutical industry needs to undertake in today’s scenario are :

  • Hand-in-hand collaboration among the Pharmaceutical companies and the Healthcare industry. Effectively utilizing all these data and the ensuing insights can go a long way in improving areas of drug development, whilst meeting insurers’ needs can also act as a major-trigger for credibility of the drug benefits.
  • Data collection will also play a very crucial role for the Research & Development functions of the Pharmaceutical companies. Data can be efficiently collected across multiple sources like retail medical outlets, contract research organizations (CROs), academic institutions, diagnostic labs, and public health institutes. This Big Data once transformed into meaningful insights can help Pharmaceutical manufacturers in greater understanding on the efficacy and safety of drugs & medical devices, that too at much lower risks and costs.

 

We at Annik Technology Services, collaborate with the world’s leading Healthcare companies and Pharmaceutical manufacturers to enable change through insights and technology. Our teams of experts are able to create actionable insights for the most-critical business issues in this space. We help companies attract, manage and retain market-share by applying a wide-range of Advanced Analytics offerings, competently tailored to suit every business need.