What is the Role of Digital Technology in Transforming Life Sciences?
Getting one view of the patient has been a vital challenge for the life sciences industry, provided the inherently siloed nature of organizations in the sector.
FREMONT, CA: As patient-centricity highly becomes the crux of all life science organizations, the speed of digitization within the industry has picked up the pace significantly. Organizations have been very fast to understand the requirement to implement transformative technologies like AI, analytics, IoT, blockchain, and cloud platforms, to develop an environment of patient centricity and personalized value-based medicines. Here are a few ways of how digital technologies will shape every stage of the drug lifecycle.
Digital technologies are starting to make a revolutionary impact on how pharmaceutical and other life sciences companies are recruiting for and operates clinical trials. The application of AI-driven analytics is honing patient recruitment by going through patient records to select the most suitable candidates.
The same technologies are augmenting retention and adherence by leveraging individual-level targeted insights and trigger-based digital media in order to manage the patient requirements more proactively. Physicians can oversee and prompt to make sure the treatment regimens are being followed. AI technologies associated to IoT platforms are facilitating massive change in the sector towards the virtual trails. The enhancement of patient convenience and the power to remote monitor might reduce the number of people quitting the trials.
For some years now, there has been interesting in deploying the connected technologies of Industry 4.0 to manage the quality performance, consisting of the costs of both good and bad quality. Several companies have started to increase the resolution of the data they gather using IoT and analytics. This does not stop at the factory wall. Instead of inspecting the parts as the primary quality activity, companies are starting to inspect their suppliers’ quality and processes in order to address downstream quality problems.
The enterprise-wide transition to a focus on patients and more significant collaboration among all the stakeholders is perhaps most felt in commercialization. As patients are becoming more empowered, the life sciences industry is starting to better serve them by the medicines it produces and the services that smooth’s the road for access—from diagnosis to therapy to reimbursement.
Adding to empowering the patients, pharmaceutical companies should search for ways to empower the physician with the right information and support to enhance diagnosis and drug prescription.
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