Unlocking the Value in Connected Health
Accelerated digital healthcare adoption amid the pandemic means now is the time for biopharma companies to transform their connected health portfolios
The COVID-19 pandemic has rapidly accelerated the openness to and use of digital technologies in healthcare. Connected health – which sits at the intersection of digital and traditional care – is regularly discussed as a way to harness the power of new technology to improve patient engagement and health outcomes.
Historically, attempts to introduce innovation to the healthcare sector have been hindered by a multitude of factors. But has the pandemic brought the healthcare sector to a technological tipping point at which it can be transformed by connected health?
In our newest Capgemini Research Institute report, Unlocking the value in connected health: Why now is the time for biopharma companies to transform, we sought to answer this question. To this end, we surveyed 523 life science executives within the pharmaceutical and biotechnology sectors. What we found is that biopharma executives see great potential in connected health, but their organizations have been slow to roll out and scale new offerings; only 16% of surveyed respondents have brought connected health products to market. We highlight six key actions biopharma companies can take to close this maturity gap and scale their connected health products and services effectively:
- Define a commercial connected health strategy aligned to established portfolio plans
- Design connected health products to drive measurable value and outcomes
- Build a data ecosystem that promotes data sharing and interoperability within, and outside the organization
- Upskill talent in data, behavioral science, and agile development
- Centralize governance, operating model, and financial structures for connected health to drive growth and regulatory coordination
- Build a connected health ecosystem that provides structure and guardrails, but also embraces open innovation.