The Life Sciences industry is at an inflection point and dealing with challenges of reducing cost and improving patient health outcomes. In the post-pandemic world, patients and consumers are taking charge of their lives and now they are more health-conscious and better informed and believe in prevention rather than treatment. Hence, this pandemic has been a wake-up call for Life Sciences players to ensure improved health outcomes while transforming patient experience and optimizing the cost leveraging digital technologies and new ways of working. With changing patient and consumer expectations, Life Sciences companies are in dire need of changing their business model and address the consumer challenges.
Modern technologies & ways of working can address the age-old challenges in this space:
Life sciences companies are still leveraging old and manual ways for data collection, drug testing, drug doses identification etc which is expensive and increasing time to market. It’s time for companies to focus on Automated Drug discovery enabled by AI ML and leverage cutting edge technologies like Digital Twin for drug testing.
Pandemic has led to a disruption in the existing in-person clinical trials. Enterprises are struggling to develop a new model to improve accessibility and participant diversity. Adoption of decentralized clinical trials has increased but it again requires complex technological integrations, data security and easy to use apps / solutions which can be integrated with wearables.
Data breach and privacy issues are frequent in lieu of robust data infrastructure which causes severe damage to patient trust. Hence, robust data infrastructure considering the latest rules and regulations which includes patient information, medical history is need of the hour.
In the era of digitization, patient’s expectations are increased, and they are looking for more contextual and personalized care, which is derived from his digital footprints, medical history etc. Companies need to for focus on patient data analytics, image analytics, medical history, and patient demographic to deliver patient centric solutions and build personalized products/offerings.
Increased redundancy in processes including sourcing and manufacturing due to lack of integrated platform and holistic infrastructure. Lack of integrated platform with real-time forecasting, tracking and a holistic architecture.
Slower adoption of modern innovative technologies like Digital twin & AI ML for Drug discovery needed for competitive positioning and meeting the consumer expectations. Monolithic and legacy systems take a lot of time and effort to reconfigure and achieve compliances.
To realize the above solutions, Life Sciences companies need to leverage Modern Application Development Services.Modern applications are applications that are decoupled, cloud-based, modular, easy to change, and easy to evolve. Modern application development (MAD) services help companies fasten their digital transformation, build modern applications and products quickly, and enhance custom development to deliver business value outcomes.
Below are the key areas where LS companies can focus and transform patient experience, improve patient outcomes, enhance operational efficiency, and reduce time to market to achieve competitive advantage:
Patients are looking for personalized and engaging experience enabled leveraging advance analytics (medical history, genetic history demographics and lifestyle) and experience driven solution or application. Seamless experience and easy to use applications integrated with wearables drives the adoption of decentralized clinical trials, keeps patients engaged and helps in accurate data collection.
Existing monolithic and legacy systems are not extensible to meet growing business needs and changing regulatory compliances. Hence, LS companies need to leverage microservices driven architecture and modular platforms to ensure agility, speed, and exceptional experience.
Days are over when Life Sciences companies were managing platforms and solutions end to end. In the era of clouds, they must disintegrate the infrastructure and application and let experts manage their infrastructure while they focus on core businesses. Cloud provides an advantage of higher availability, scalability, agility, and cost effectiveness.
Life Sciences companies involved in Drug manufacturing and other activities are facing issues of higher time to market and on top of that traditional and old ways of software development is increasing it further. Life Sciences companies must adopt new ways of working like Agile, DevOps which ensure high predictability, quicker feedback etc.
Life Science companies are becoming Life tech companies and this massive shift is propelled by advancement in digital technologies and modern application development practices, which are turning the tide of innovation across the value chain. To reap the benefits of technological advancement, Life Sciences companies need to build and adopt the right IT strategy in sync with their vision. Once IT strategy is in place, companies need to conduct a detailed evaluation to figure out how to leverage MADS across the functions like R&D, Manufacturing, Supply chain and patient support. Companies can start with a pilot and replicate their success across the ecosystem.
Brillio, a leader in Modern Application Development Services and your true digital partner, has vast experience in delivering solutions across geographies. We understand the unique challenges of this industry and apply fresh thinking to build holistic patient experience and develop innovative solutions to solve them leveraging our deep Life Sciences domain expertise, Product centric mindset and Agile execution.
