Apac
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    DevOps

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    IT Services

    Marine Tech

    Networking

    PropTech

    Remote Work

    Robotics

    Scheduling Software

    Sensor Tech

    Simulation

    Smart City

    Software Testing

    Startup

    Storage

    Unified Communication

    Web Development

    Wireless

  • Automotive

    Banking

    Capital Market

    Construction

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Gov and Public

    Healthcare

    Insurance

    Legal

    Logistics

    Manufacturing

    Media and Entertainment

    Metals and Mining

    Pharma and Life Science

    Retail

    Sports

    Travel and Hospitality

  • CISCO

    Google

    IBM

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Collaboration

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Digital Signage

    Enterprise Architecture

    Enterprise Asset Management

    Enterprise Communications

    Enterprise Contract Management

    Enterprise Performance Management

    ERP

    Facility Management

    Field Service

    Fleet Management

    Gamification

    HR Technology

    IT Infrastructure

    IT Service Management

    Managed Services

    PLM

    Procurement

    Product Management

    Project Management

    RegTech

    Revenue Management

    Sales Tech

Menu
    • Pharma and Life Science
    • CISCO
    • Collaboration
    • Compliance
    • Contact Center
    • Healthcare
    • IT Service Management
    • Microsoft
    • Retail
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • Pharma and Life Science
    Editor's Pick (1 - 4 of 8)
    left
    The 4Ps of Digital Transformation in Pharmaceutical Industry

    Debraj Dasgupta, Operating Officer, Head of Strategy and Go-To-Market Planning Division, Nippon Boehringer Ingelheim

    Cloud Computing: Pharma Takes the Plunge

    Andy Newsom, SVP & CIO, CSL Behring

    Machine Learning & Artificial Intelligence in Healthcare Industry

    James Woo, CIO, The Farrer Park Company

    Connected Patients: Healthcare and the Internet of Things

    Geoff Feakes, Group CIO, Tunstall Healthcare Group

    Building a Quality-Focused IT Foundation for a Biopharmaceutical Enterprise

    Andy Newsom, SVP, CIO, CSL Behring

    Points of Focus for CIOs to Succeed in the Next Decade and Beyond

    Dr. Joseph Frassica, CMIO/CTO, Patient Care and Monitoring Solutions, Philips Healthcare

    Innovating Technology -Based Metadata Solutions for Improved Data Analysis

    Douglas Barta, CIO, PAREXEL International

    Real-Time Actionable Intelligence with a Solid Analytics Platform

    Rajeev Nair,

    right

    The Rise of Digital Health and Need for Partnerships in the Asian Pharmaceutical Industry

    By Dr. Joseph Mocanu, Managing Director, Verge Capital Management

    Tweet
    content-image

    Dr. Joseph Mocanu, Managing Director, Verge Capital Management

    I spent about seven years in management consulting, ending my career as the Life Sciences practice leader for Oliver Wyman across APAC. Our region, densely populated with over 3 billion people and wildly heterogeneous healthcare systems, is experiencing a fundamentally insufficient supply of healthcare resources and a significant gap in the affordability of healthcare services, most notably ethical pharmaceutical products.

    A significant part of my work focused on large multinational pharmaceutical companies looking for guidance on non-traditional market access routes—this meant creating innovative business models and building successful partnerships with insurers, providers financial institutions, and even startups, that could overcome some of the financing, education, and delivery challenges that prevented the success of both traditional and novel market access approaches. We also helped our clients develop strategies to generate the right kind and level of evidence conveying the value of their medicines and how to engage critical public and private sector stakeholders to best deliver said evidence.

    As a part of my client engagements, I discovered many entrepreneurs working towards improving their local health systems yet struggling to find the capital to do so, even with a clear business case and strong technology foundation. I started investing in these companies in a personal capacity, and very recently left Oliver Wyman to start Verge Capital Management to do this full-time with a couple of likeminded partners. Our mission is to extend healthy life spans of all people and we are doing this by providing capital to early stage companies focused on disease prevention, health system efficiency, and curative therapies.

    Trends Transforming the Pharmaceutical Industry in Asia

    While the pharmaceutical industry might be under constant internal transformation and consistently at the top of biomedical innovation, the business model itself has not changed very much in the past decades. However, with the increasing veracity, velocity and ubiquity of information, and the accompanying exponential changes in technology powered by it, they will soon need to rethink the way they work, prioritize and conduct research, innovate, manufacture and meet stakeholder expectations. I say stakeholder as it is no longer a monologue with physicians as key decision makers but rather full conversations with public and private payers, other healthcare practitioners, health system administrators, service partners and most importantly, the patients themselves.

    As such, I have seen three major trends rise here in Asia in response to some of these looming changes. Firstly, pharmaceutical companies have finally started to realize that digital health is an important enabler that overcomes some of the traditional limitations on providing services ‘beyond the pill.’

    They have begun engaging with digital health companies on topics such as cloud-based disease management programs, expanded patient access and support programs, and enablement of novel financing mechanisms, to help make their treatments more affordable, accessible and accountable.

    Secondly, there is the growing awareness and importance of compelling clinical outcomes data within emerging markets given the commitment many governments have made to universal healthcare coverage. They have committed to expand access but are faced with limited resources, so they need to see if the treatment proposed is cost-effective and if it produces real-world results that are beneficial to patients and health systems. Digital health can help through the more thorough and consistent collection of data, either directly from patients or via their providers.

    Lastly, there is also the increased role of the private sector. As consumer expectations rise faster than governments can meet them, the private sector is stepping in. Of most significance to Pharma is that private health insurers are starting to take a considerable interest in healthcare, shifting their attention to medical management, rather than taking more passive approach of flat limits and increasing premiums. This is a double-edge sword for pharmaceutical companies as this also like entails the formation of drug formularies, which can potentially mean exclusions/tiers like in the U.S. or expanded access to those pharmaceutical companies that have a strong portfolio of drugs that can demonstrate value. The management of disparate healthcare resources requires a decentralized data-driven approach.

    Implications for Pharmaceutical Companies in Asia

    Pharmaceutical companies are increasingly in need of partners who can allow them to reach the scale and efficiency needed in APAC regions to act on these above trends where they do not have as many resources as their North American or European headquarters. This is not surprising considering 80-90 percent of global pharmaceutical revenue originates from the U.S., EU5 and Japan. Moreover, this region tends to moves faster and multinationals will need to keep pace, unencumbered by long decision making and integration processes.

    This is making pharmaceutical companies realize the necessity and importance of having these effective partnerships, many of which must be digital by nature as the resources do not exist to build the traditional ‘brick-and-mortar’ models. However, executing these partnerships in the context of existing systems and processes can be quite challenging, and this is one area where CIOs can make a critical difference in the success or failure of these initiatives.

    Some of these challenges at the technology level are technical in nature with partnerships stalling due to interoperability, data exchange, ownership and governance issues. Others are more political in nature, with in-house teams asking why a partner is needed at all and insisting on “DIY” first, often forgetting key details about the end customer experience, ideal use cases and/or patient journey in the process (not to mention ensuring the spurned partner entertains working with the direct competition).

    What It Means for Budding Pharma CIOs

    A Pharma CIO seeking or tasked to facilitate the transformation of the core business should consider the following:

    • Get involved from day one: Ensure you have a seat at the table of partnership initiatives at the inception stage—alongside the innovation, product, regulatory and market access teams to see how IT can play a role in ensuring a smooth cross-disciplinary collaboration across processes and systems.

    • Focus on your core strengths: Do not hesitate to outsource when your team is stretched—most IT functions were designed to be internally facing and iterative in nature. For example, a Pharma IT function cannot hope to be best in class vs. Silicon Valley and Chinese technology companies in analytics, machine learning, etc. This does not mean the teams should not shadow their partners to upskill themselves and understand what ‘good’ looks like.

    • Build the ecosystem, as one size does not fit all: Be open to accepting different solutions across geographies or disease areas as one vendor will likely not satisfy all the requirements or be present in all markets. Instead, emphasize standards, specifications, and interfaces to keep the same working language across multiple partners. Pharma has tremendous leverage given the difference in both size and resources—most partners would be ready to bend over backwards to be a long term partner.

    Overall, it is an exciting time to be a pharmaceutical CIO, as your importance in improving the lives of your patients has never been greater, and the tools at your disposal to achieve this are formidable and improving by the minute.

    tag

    Pharmaceutical

    Financial

    Startups

    Machine Learning

    Life Sciences

    Customer Experience

    Data Exchange

    Weekly Brief

    loading
    Top 10 Pharma and Life Science Technology Companies - 2020

    Featured Vendors

    Cbig Consulting

    Cameron Price, Managing Partner, Asia-Pacific Region

    Bluesoftware

    Stephen Kaufman, Chief Product Officer

    ON THE DECK

    Content Management System 2020

    Top Vendors

    Contactless Payments 2020

    Top Vendors

    Admired Tech 2020

    Top Vendors

    Corporate Finance 2020

    Top Vendors

    AI 2020

    Top Vendors

    Travel and Hospitality 2020

    Top Vendors

    Startup 2020

    Top Vendors

    Networking 2020

    Top Vendors

    FinTech 2020

    Top Vendors

    CRM 2020

    Top Vendors

    Scheduling Software 2020

    Top Vendors

    Education 2020

    Top Vendors

    Business Intelligence 2020

    Top Vendors

    PropTech 2020

    Top Vendors

    Salesforce 2020

    Top Vendors

    Big Data 2020

    Top Vendors

    Simulation 2020

    Top Vendors

    Product Management 2020

    Top Vendors

    Legal 2020

    Top Vendors

    Remote Work 2020

    Top Vendors

    Cryptocurrency 2020

    Top Vendors

    CEM 2020

    Top Vendors

    Insurance 2020

    Top Vendors

    Data Center 2020

    Top Vendors

    Banking 2020

    Top Vendors

    RegTech 2020

    Top Vendors

    Wireless 2020

    Top Vendors

    Procurement 2020

    Top Vendors

    Cognitive 2020

    Top Vendors

    Drone 2020

    Top Vendors

    HR Technology 2020

    Top Vendors

    HPC 2020

    Top Vendors

    Pharma and Life Science 2020

    Top Vendors

    SAP 2020

    Top Vendors

    Food and Beverages 2020

    Top Vendors

    Cloud 2020

    Top Vendors

    Blockchain 2020

    Top Vendors

    Cloud 2020

    Top Vendors

    Logistics 2020

    Top Vendors

    Augmented Reality 2020

    Top Vendors

    Contact Center 2020

    Top Vendors

    Oracle 2020

    Top Vendors

    Cyber Security 2020

    Top Vendors

    E-Commerce 2020

    Top Vendors

    Compliance 2020

    Top Vendors

    Enterprise Architecture 2020

    Top Vendors

    Digital Transformation 2020

    Top Vendors

    Manufacturing 2020

    Top Vendors

    Agile 2020

    Top Vendors

    CISCO 2020

    Top Vendors

    Field Service 2020

    Top Vendors

    Contact Center 2020

    Top Vendors

    IoT 2020

    Top Vendors

    Microsoft 2020

    Top Vendors

    Retail 2020

    Top Vendors

    Aviation 2020

    Top Vendors

    Healthcare 2020

    Top Vendors

    IT Service Management 2020

    Top Vendors

    Top Vendors

    Big Data 2019

    Top Vendors

    Digital Signage 2019

    Top Vendors

    Sales Tech 2019

    Top Vendors

    Startup 2019

    Top Vendors

    Salesforce 2019

    Top Vendors

    AI 2019

    Top Vendors

    Google 2019

    Top Vendors

    Smart City 2019

    Top Vendors

    FinTech 2019

    Top Vendors

    Admired Tech 2019

    Top Vendors

    Big Data 2019

    Top Vendors

    IT Services 2019

    Top Vendors

    Business Intelligence 2019

    Top Vendors

    Education 2019

    Top Vendors

    Project Management 2019

    Top Vendors

    Enterprise Asset Management 2019

    Top Vendors

    CRM 2019

    Top Vendors

    Data Center 2019

    Top Vendors

    PropTech 2019

    Top Vendors

    Capital Market 2019

    Top Vendors

    Travel and Hospitality 2019

    Top Vendors

    Legal 2019

    Top Vendors

    IT Infrastructure 2019

    Top Vendors

    Plastic Tech 2019

    Top Vendors

    Facility Management 2019

    Top Vendors

    Fleet Management 2019

    Top Vendors

    CEM 2019

    Top Vendors

    Sensor Tech 2019

    Top Vendors

    RegTech 2019

    Top Vendors

    Marine Tech 2019

    Top Vendors

    Collaboration 2019

    Top Vendors

    Software Testing 2019

    Top Vendors

    Facility Management 2019

    Top Vendors

    Automotive 2019

    Top Vendors

    Food and Beverages 2019

    Top Vendors

    Insurance 2019

    Top Vendors

    HPC 2019

    Top Vendors

    Wireless 2019

    Top Vendors

    Simulation 2019

    Top Vendors

    Corporate Finance 2019

    Top Vendors

    Drone 2019

    Top Vendors

    AI Healthcare 2019

    Top Vendors

    SAP 2019

    Top Vendors

    Procurement 2019

    Top Vendors

    Cyber Security 2019

    Top Vendors

    IBM 2019

    Top Vendors

    Construction 2019

    Top Vendors

    Logistics 2019

    Top Vendors

    Managed Services 2019

    Top Vendors

    Manufacturing 2019

    Top Vendors

    Media and Entertainment 2019

    Top Vendors

    Cloud 2019

    Top Vendors

    Banking 2019

    Top Vendors

    Agile 2019

    Top Vendors

    IT Service Management 2019

    Top Vendors

    Retail 2019

    Top Vendors

    HR Technology 2019

    Top Vendors

    Oracle 2019

    Top Vendors

    Cognitive 2019

    Top Vendors

    Compliance 2019

    Top Vendors

    Contact Center 2019

    Top Vendors

    Healthcare 2019

    Top Vendors

    Gov and Public 2019

    Top Vendors

    Microsoft 2019

    Top Vendors

    Pharma and Life Science 2019

    Top Vendors

    DevOps 2019

    Top Vendors

    E-Commerce 2019

    Top Vendors

    Blockchain 2019

    Top Vendors

    IoT 2019

    Top Vendors

    Metals and Mining 2019

    Top Vendors

    Gamification 2019

    Top Vendors

    Field Service 2019

    Top Vendors

    Augmented Reality 2019

    Top Vendors

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Pinpointing Weak Links in an Enterprise Security Chain: Helping Companies Battle Data and Content Security Challenges

    Pinpointing Weak Links in an Enterprise Security Chain: Helping Companies Battle Data and Content Security Challenges

    Hiro Imamura, SVP and GM, Business Imaging Solutions Group, Canon U.S.A. [NYSE:CAJ]
    Evolving Customer Relationship Management: Move Fast or Die Trying

    Evolving Customer Relationship Management: Move Fast or Die Trying

    Ed Ariel, Vice President of Service Operations, ezCater
    Importance of Customer Relationship Management Implementation

    Importance of Customer Relationship Management Implementation

    Drew Fredrick, Vice President, Home Building Technology, Clayton Homes
    How enterprise tech startups and corporates can collaborate for innovation

    How enterprise tech startups and corporates can collaborate for innovation

    Paul Santos, Managing Partner, Wavemaker Partners
    How an Initiative for Standardization and Modularization Leads to Cost Reduction, Increased Efficiency-and Better Teamwork

    How an Initiative for Standardization and Modularization Leads to Cost Reduction, Increased Efficiency-and Better Teamwork

    Faruk Bilgin, Global Director Manufacturing Engineering of Webasto Group
    Empowering the Retail Paradigm

    Empowering the Retail Paradigm

    Jason Williams, VP of Engineering, DICK’S Sporting Goods
    Fortifying the Retail Pardigm Amidst Uncertainities

    Fortifying the Retail Pardigm Amidst Uncertainities

    Vlad Yakubson, Head of Retail, yd.
    Journey from Intelligent Automation (IA) to Artificial Intelligence (AI)

    Journey from Intelligent Automation (IA) to Artificial Intelligence (AI)

    Sanjay Choubey, VP-IT, Briggs & Stratton
    Loading...

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://pharma.apacciooutlook.com/cxoinsights/the-rise-of-digital-health-and-need-for-partnerships-in-the-asian-pharmaceutical-industry-nwid-5314.html