The power of collaboration: tackling pharmaceutical challenges
Inez Cornell, Marketing Manager at Radleys discusses the power of collaboration when tackling pharmaceutical challenges.
Pharmaceutical companies have started to embrace a more collaborative way of working as part of a movement to help overcome some of the challenges the industry is facing. Expiring patents and a tight regulatory environment are just some of the issues that are hoped to be resolved through forming partnerships across the industry, and even with competitors.
Radleys believe collaborative working is likely to play an important role in the pharmaceutical industry for years to come because of a number of trends which are emerging:
Technology is opening up new opportunities
Technology is slowly being introduced and utilised within healthcare and is revolutionising the pharma industry. When it comes to utilising technology and staying ahead of digital trends, the care industry is not necessarily well-recognised for this. However, with everything becoming increasingly more automated and digitised, care homes, hospitals and other care related establishments need to be adopting the latest technological advancements or risk being left behind.
From software solutions which help out with administrative work, to smart home capabilities which can enhance staff productivity, to robotic technology which has proven results in increasing health; there are many advancements which should be considered - as well as the potential collaborations that could help streamline operations.
There is also scope for more pharmaceutical and technology partnerships to develop products which will help to realise the vision of delivering personalised medicine. Partnering with technology companies to enhance productivity using automation is just one way the pharmaceutical sector can avoid wasting money on pursuing research into treatments that later turn out not to be viable.
Software solutions have allowed for the digitisation of records including care plans, residents’ medical records, and staff employment and management records. This has led to the optimisation of operational and administrative processes in the care industry and systems have played a large role in reducing the pressure on staff within care homes by providing a faster and more efficient way of recording resident information. Often a consultation with a specialist provider will outline possible solutions. Efficiency and productivity will be improved by partnering with relevant software companies, as will an enhanced quality of care to clients.
Prioritisation of tackling complex diseases
The rise of conditions like diabetes and Alzheimer’s, alongside staff shortages is putting a huge amount of pressure on the US health system, so tackling these should definitely be a priority.
Alzheimer’s disease affects more than 5.8 million people in the US, and this number is predicted to rise to 14 million by 2050. There are various initiatives and plans to help tackle this crisis. They set out the ambitious aim to find a cure, however finding treatments for brain diseases is incredibly complex and can’t be done without the help and insights of other industries.
It wasn’t that long ago that pharma giants were nothing less than fierce competitors, but the need for a shift has been identified. This leads to the collaborations of pharma companies as this is important for sharing knowledge between experts.
Patient’s needs are changing
Times are changing and patients are no longer content with going with the status-quo when it comes to healthcare; they demand more personalised health plans that are shaped around their own individual needs. Consumers have shown that they want new therapies that are better than anything on the market, and the pharmaceutical companies must have real-world research to back up such claims. This movement has been identified by the pharma industry, as well as by healthcare providers such as the NHS.
Through collaborations between pharma organisations, healthcare providers and patients, a more streamlined focus on the outcomes that matter to patients can be made possible. According to research by the drug development company Covance, 84% of senior decision-makers in the field of clinical development agree that pharmaceutical companies must incorporate the patient voice in drug development more effectively.
Traditionally, pharmaceutical companies may not have embraced collaborative working, but now it is more of a necessity that is expected to become common. Despite providing rewards such as the ability to align decisions with patients' wants, needs, and preferences, patient-centric care can also provide challenges for the pharmaceutical industry. The main challenge for 2019 will be focused around the potential of the direct consumer becoming the pharmaceutical company’s most strategic partner. This will involve determining how to leverage the power of health technology, and how to shift focus from partnerships with the medical community to partnerships directly with the consumer.
There has been a shift towards consumerism within the pharma industry in recent years with pharmaceutical advertisements and it is expected that as a trend this is only going to grow. It will strengthen and position drug companies, giving them more opportunity to reach the consumer through wearables and other devices.
The next few years will prove to be a crucial year for the pharmaceutical industry for many reasons, but in particular, to foster a relationship with the public, and establish relevant and valuable collaborations with other industries.
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Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.