Pharma companies have begun to realize that to stay competitive, they can no longer afford to conduct their business with traditional methods. A one-size fits all sales strategy no longer works! Pricing pressures brought on by a plethora of healthcare reforms, intensifying competition, and a hostile regulatory environment have all contributed to the industry’s shrinking […]
Digital technology is continuing to emerge in the pharma industry – when implemented well, sales teams can customize their approach to meet the needs of specific providers and quickly adjust to market shifts. Of course, there’s still a lot of competition, even with digital technology. According to a ZS Associates Inc. survey, more than 50% […]
With the growing number of physicians avoiding meeting in-person with industry representatives, pharma sales reps have their work cut out for them. A decade ago, almost 80 percent of providers were accessible to pharma and biotech company reps. Today, however, we are looking at a completely different picture. In 2017, only 44% of HCPs were […]
Whether it was from movies, books, or on the internet, you’ve most likely heard of therm “Artificial Intelligence” or AI. Maybe you know if it as nothing more than just a buzzword, but trust us when we say it is much more than just that. Especially in the pharma industry. In 2018, the global AI […]
In 2003, the cost to fully develop an FDA approved drug was $803 million. Now, however, that price has skyrocketed up to 2.6 billion and there have been no signs of this rate slowing down! Unfortunately, while the price to develop drugs have increased, the rate of clinical trial success has decreased by about 12% […]
In the past, the relationship between pharma companies and patients may have been restricted to visiting a brand website to find out about risks and side-effects, but times are changing. Research suggests that a significant proportion of patients want more interaction with pharma brands, and the rise of digital technology and patient and customer-focused services […]
Collecting data can be incredibly beneficial for improving outcomes, increasing efficiency and creating a more positive patient experience, but how do you go about ensuring that you’re taking full advantage of the information you gather? We live in an age where it’s commonplace to collect and evaluate data, but success is not a given. There’s […]
If you are in the highly competitive drug development market with multiple products entering the commercial phase of the product lifecycle, there are some key considerations which will make or break your success in the pharma market. These factors directly impact the infrastructure which supports your entire commercial sales and marketing strategy – setting a […]
In 2019, commercial pharmaceutical companies operate in a progressively changing environment; the ever-increasing pressure to reduce healthcare costs puts the industry under even greater scrutiny from both the public and regulatory bodies.
In an Internet of Things (IoT) world, objects – from doorknobs to pill capsules – have computerized eyes and brains which can talk to each other and to us.