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Healthcare systems around the world are in crisis. Patients increasing longevity, rising expectations, unhealthy lifestyles, multiple co-morbidities and healthcare cost inflation are all contributing.
As a result healthcare systems are being forced to find ways to solve a simple but difficult question – how to secure better patient outcomes at a lower cost?The new healthcare landscape is changing dramatically across every market in the world. This is the catalyst which provides pharmaceutical companies with the opportunity to demonstrate its real value! With new ecosystems built around patients, not providers.
In mature markets, medicines constitute roughly 10 of the total healthcare bill. To achieve better patient outcomes for less money, the initial focus has to be the other 90% of the budget.
I believe a much greater partnership between pharmaceutical companies and the wider healthcare eco-system can contribute significantly to the solution.
The new healthcare landscape is changing dramatically across every market in the world. This is the catalyst which provides pharmaceutical companies with the opportunity to demonstrate its real value!
This is a time of Healthcare convergence – where all stakeholders in the healthcare ecosystem will need to work together to achieve one aim: better patient outcomes at a lower cost
With new ecosystems built around patients, not providers.
I see a world where combining the global infrastructure of Pharma with the care experience of providers and risk management experience of payers could create new ways to deliver improved value to the patient.
In every country that I visit I see health systems transforming themselves from a 20th century model of care to a 21st century, emerging economies with a strong Life Science base can provide great services to millions if not billions of people through the development of new technology, new modalities of treatments and new partnerships of models between health systems and life science companies. Patients want more control, they want more information, they want more knowledge - clever life science firms, clever pharmaceuticals will realise patients want to be partners.
I believe there are three strategies for success if Pharmaceuticals are to become a true partner to the wider Healthcare eco-system.
Pharma needs to understand their customer, their challenges and provide solutions to those challenges.
Pharma needs to better anticipate the shifting power structures in the wider healthcare system- it needs to be engaged and partner appropriately in each country in which it operates.
Pharma needs to continue to re-shape its R&D to deliver products and services which will meet future needs and provide an adequate return to shareholders
I believe this approach will ultimately catapult Pharma’s position to the realm of Partner, rather than a supplier.
Pharma has to change.
Global Lead for Life SciencesKPMG in the UK
+44 207 3118512
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