Delivering clear beneficial outcomes over a well-defined patient journey looks set to be the defining model for primary health providers, drug and medtech companies, as driven by three factors.
To read what KPMG’s Exceptional Women in Life Sciences think about the key trends in life sciences, download the Rethinking Life Sciences magazine. A preview is below:
Hilary Thomas, Chief Medical Adviser and Partner at KPMG in the UK:
The industry is starting to see the real value it brings to patients. We strive to help companies understand how they can maximise that, whether it’s by changing their business model; the way they engage with patients and with healthcare systems; or exploring the total value chain for a drug. It’s about how we make sure that patients are engaged in their healthcare and how taking their health seriously adds value.
Anne-Marie Detert, Director in People and Change at KPMG in the UK:
I’m really excited about the sales and commercial models in life sciences. For example, technology like wearables and virtual reality means we can influence people to take medicines in a more proactive way. Companies that can design an experience around the patient to help them self-diagnose, take preventative action and self-treat will do well. We need payers, patients and the industry to work together to help people take more ownership of their healthcare. KPMG works across the patient pathway to help deliver this vision.
Allison Little, Life Science Advisory Leader at KPMG in the US:
Companies are really trying to figure out how they’re going to create value in the future. Specialise in a particular therapeutic area and differentiate on the science? Or diversify to capitalise on market reach with a larger portfolio? It’s a tremendous opportunity for transformation. Even the specialists are focused on the patient journey, trying to provide supporting services or devices that make it more manageable.
There will also be breakthroughs in science that will make some conditions that people struggle with curable, or at least more manageable. People will live a longer, healthier, happier life. But there will still be care needed and end of life management. We have an opportunity to see the quality of life improve significantly.