Digitizing the Life Sciences Value Chain
The healthcare and life sciences industry is undergoing a wholesale transformation. In every corner of the world, healthcare and life sciences companies — which include pharmaceutical, biotech and medical device manufacturers — face similar challenges. While each region has different expectations about how medical products and therapies should be developed and delivered, companies are seeing growing healthcare demand, medical technology advances and a fundamental shift in who pays for their products.
The question for CIOs is how to lead their organizations from their focus on providing treatments for diseases to becoming a valued part of a healthcare ecosystem focused on population health and well-being.
A key part of this effort is digital technologies, such as software-defined networks, hyperconverged cloud, big data and mobility – and most importantly, digital patient engagement. Digitization is making a vast impact at every point along the pharmaceutical value chain, from the R&D lab, through distribution channels to the pharmacy shelf. And digitization will play a crucial role in medicine itself with low-cost genomic scanning, machine learning and analytics.
The new role of the CIO is to lead their organization’s digital journey all along the value chain.