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.