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Which Digital Innovations Are Most Important to Pharma?

Companies must understand the digital opportunities for the pharmaceutical industry that this revolution offers. Since they have a unique opportunity to accelerate the digital pulse of the socio-health sector and the way in which the different actors are related: patients, hospitals, companies.

The digital revolution reaches all kinds of companies and sectors. No matter how long they have been in the market, whether they are emerging businesses of the new economy or veterans fully established in the market, digital permeates everything. The pharmaceutical industry is no exception to this rule and must urgently adapt to the demands of these environments of permanent changes that, propitiated and accelerated by technology, living today. And it is not that the pharmaceutical sector is a newcomer to the technological universe. No, much less. In many aspects this industry has been a benchmark in terms of taking advantage of the possibilities offered by technology for decades. In product innovation, for example, its behavior is exemplary. None of the amazing developments in pharmacology and medical treatments that continually leave their laboratories would be possible without the comprehensive and systematized high-tech competition in the research and manufacturing processes. 

Another change will come through the sales channel.

The digital opportunities for the pharmacy industry will allow sellers and representatives to have the right tools to win new customers and retain existing ones. Through agile processes where they can find the information and documents they need in real time. Although face-to-face meetings will remain very important. Especially from the point of view of trust and prescription. The digitization for the interaction of sales channels online and offline help improve retention rates and conversion.

The proliferation and massification of information through all types of digital channels will force the pharmaceutical industry to react.

Traditionally, companies controlled both the generation and dissemination of information on their products. However, the rise of these virtual channels has broken that paradigm.

  • Allowing the emergence of new sources of information and online communities and discussion forums. Where users, without professional knowledge, share their experiences. This will force pharmaceutical companies to rethink their traditional communication channel.
  • To seek the formula to continue exercising authority over the truthful information of their products and their results. Anticipating rumors and comments that arise in all these new digital channels.
  • The opportunity of IoT (Internet of Things) for the pharmaceutical industry is another consequence of digitalization.
  • Opening a new range of opportunities for care and relationship with patients. Giving these devices algorithms of Artificial Intelligence, without supplanting doctors. But they can become support staff for accompanying therapies. For example, to attend and give conversation or pose memory exercises and mental agility in older people or with Alzheimer’s.

Additionally, they may remember the need to take certain medications. And they can explain the benefits of these medicines or clarify the doubts that arise for patients. Thus, for organizations to survive and thrive in a digitalized healthcare sector, pharmaceutical companies must begin to generate ideas and implement digital strategies immediately to develop a business model that allows them to transform their capabilities and strengths.

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