Industry forces are converging the Life Sciences and Healthcare Value Chain – the industry convergence is driven by bioscience innovation, increasing healthcare costs, the aging population and technology adoption .
Over and above this, there are changing expectations as patients and individuals want more control and empowerment over their health management.
The life sciences – healthcare value chain is also transforming and the key factors driving the transformation are cost burdens, inefficiencies, quality of care, individual wellness and regulations / compliance.
Technology is at the heart of improving business & health outcomes, and this can be achieved by the following:
1. Acceleration in business growth & speedy innovation to transform health: Some of the areas which can help accelerate business growth being bridge information gap between research and clinical care, power biosciences (genomic and proteomic) research and discovery, speed time to market of new pharmaceutical agents, enable “personalized medicine” through value chain collaboration and empower individuals to manage their health.
2. Lowering costs & Improving operational efficiencies: Lower operational costs increase efficiency in the healthcare business and this can be achieved through reduction in waste