Shaping the future of healthcare

Focusing specifically on healthcare companies, we've identified four major currents of change that are specifically impacting the healthcare industry.

Informed by these, while exploring the commercial and strategic potential of creative technologies and services, healthcare companies can find new ways to create experiences that bring the customer closer to the company.

Societal and environmental changes are pushing companies in the healthcare industry to position themselves and act in a timely manner on matters beyond their core product and service focus. Purpose creates trust in a world where trust is challenged like never before.

Companies in the healthcare industry need to stand firm behind their purpose and demonstrate – through voice and action – a sincere intent to help solve societal and environmental challenges. Doing good for people, the planet, and nature is good for business.

New technologies and digital communication tools – such as generative AI –are increasingly becoming integral to any company. They shape strategies, business, and customer experience in meaningful new ways. In the healthcare industry, new technologies offer the potential for direct product improvements, leading to better compliance and potential outcomes.

Further, behavioral data, when handled according to ethical and legal standards, provides fruitful insights into behavior and preferences that can be used for product innovation and more individualized communication with healthcare professionals and patients.

Compared to other sectors, many companies in the healthcare industry are simply lagging on digital transformation. But COVID-19 and the proliferation of AI tools have now enforced a gigantic leap forward on their digital journey. Keep it up!

Patients demand to be truly empowered. They educate themselves online at all stages of their disease, discuss their conditions and medications with peers on social media, and expect the best treatments. They challenge their doctor and expect an individualized approach at all times. Although the healthcare professional remains an essential and direct customer for many pharma and med-tech companies, patient empowerment is becoming increasingly important.

Throughout the industry, the full patient journey must be understood and leveraged to ensure meaningful patient interactions – while overcoming legal and regulatory barriers. A strong patient focus is needed to secure patient engagement and advocacy and improve treatment adherence.

To be successful, it is no longer sufficient to measure against the ‘best in the industry’ and rely solely on in-house developments and initiatives. New partnerships and closely knit ecosystems offer new opportunities. Adapting to new ways of working and engaging in new constellations gives a competitive edge today and tomorrow.

For the industry, this means working closer with important players not necessarily native to the industry to optimize customer reach and engagement.

Transformation is needed to obtain a sufficient level of agility for new business models. However, it can be difficult to strike the perfect balance between ‘organisational agility’ on the one hand and ‘long development lead times and robust processes’ on the other. This is where management must lead the way.