Patient capital – why user focus is a defining trend for life sciences

Why user focus is a defining trend for life sciences

We’ve asked global leaders from the Exceptional Women in Life Sciences programme about the key trends in life sciences. The consensus is clear: it’s all about the patients.

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Patient capital – why user focus is a defining trend for life sciences

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.

  1. Commissioning agencies – insurers in the US or state health services such as the NHS in Europe – are unrelenting in their drive for cost efficiency. There are limits to margin squeezes and volume discounts. Value based models are sure to come to the fore.
  2. Regulatory pressures in both business practices and treatment approvals. Compliance for each part of the patient supply chain in isolation is going to become very costly. Meanwhile regulations – from IP rights to drug approvals – are becoming globalised.
  3. Data - Diagnostics of all kinds are improving and getting cheaper, and that’s reshaping the landscape for preventative health and early intervention. But the data collected by primary care providers, life sciences businesses and, above all, patients themselves is changing the way we look at end-user interactions. From wearable tech and the internet of things, to sophisticated analytics and open data, bits and bytes look set to continue their sector-defining role.

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.

Exceptional Women in Life Sciences

Exceptional Women in Life Sciences

This series is one of the initiatives that demonstrates KPMG’s commitment to the development, advancement and leadership of women.

Rethinking Life Sciences

Rethinking Life Sciences

Read Rethinking Life Sciences to find out the latest news and trends from across the pharmaceutical industry.

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Life Sciences

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