Tag: Digital Pharma

5 healthcare companies that have transformed digitally

5 Healthcare Companies that have Transformed Digitally

October 31, 2023

As the world seeks more efficient, patient-centric, and accessible healthcare solutions, companies have emerged as pioneers, pushing the boundaries of what’s possible in this critical sector. In this blog, we will explore 5 healthcare companies that have explored the power of digital transformation to reimagine the way we approach medical care, manage health data, and deliver life-saving treatments. From telemedicine breakthroughs to cutting-edge health data analytics, these organisations are at the forefront of a digital healthcare revolution that is changing lives, improving patient outcomes, and shaping the future of the industry. Join us as we delve into their inspiring stories and discover how they’re leading the charge towards a healthier and more connected world. Grail: Grail, a cancer detection company developed a blood test that can detect over 50 types of cancer early, when they are most treatable. The company’s test uses ML to analyse DNA fragments circulating in the blood, known as circulating tumour DNA (ctDNA). Grail’s test is still in the early stages of development, but it has the potential to transform cancer detection and treatment. Tempus: Tempus, a data-driven precision medicine company, helps clinicians make better decisions for their patients with cancer. The company’s platform collects and analyses genomic and clinical data from millions of patients to identify new patterns and insights. It then uses this data to develop personalised treatment plans for each patient. The platform is used by clinicians at over 800 cancer centres around the world. Meddo: Meddo, a digital healthcare platform, provides telemedicine services and other healthcare solutions to hospitals and clinics. The company’s platform offers a variety of features, including online doctor consultations, patient record management, and e-pharmacy services. Meddo’s platform is used by over 1,000 hospitals and clinics in India. Practo: Practo, a digital healthcare platform, connects patients with doctors and other healthcare providers. The company’s platform offers a variety of services, including online doctor consultations, appointment booking, and medical record management. Practo has over 150,000 doctors and 20,000 clinics on its platform, and it serves over 100 million patients each year. PharmEasy: PharmEasy, an online pharmacy delivers medicines and other healthcare products to customers’ doorsteps. The company’s platform offers a wide range of products, including prescription medicines, over-the-counter medications, and personal care products. PharmEasy also offers a variety of services, such as online doctor consultations and diagnostic testing. The digital transformation of the healthcare industry is rapidly changing the way that healthcare is delivered and consumed. The healthcare companies listed above and many more like them are leading the way in this transformation, and they are making a significant impact on the health and well-being of people in India and all across the world.

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How the Large Language Models like GPT are revolutionising the AI space in all domains (BFSI, Pharma, and HealthCare)

How the Large Language Models like GPT are revolutionising the AI space in all domains (BFSI, Pharma, and HealthCare)

April 6, 2023

Large language models or LLMs are ushering in a widespread AI revolution throughout multiple business and industry domains. DALL-E-2 set the cat amongst the pigeons in the AI segment in July 2022, developed by OpenAI, before ChatGPT came into the picture. This has put the spotlight firmly on the invaluable role increasingly played by LLMs (large language models) across diverse sectors. Here’s examining the phenomenon in greater detail.  LLMs make a sizeable impact worldwide With natural language processing, machine learning, deep learning, and predictive analytics among other advanced tools, LLM neural networks are steadily widening the scope of impact of AI across the BFSI (banking, financial services, and insurance), pharma, healthcare, robotics, and gaming sectors among others.  Large language models are learning-based algorithms which can identify, summarise, predict, translate, and generate languages with the help of massive text-based datasets with negligible supervision and training. They are also taking care of varied tasks including answering queries, identifying and generating images, sounds, and text with accuracy, and also taking care of things like text-to-text, text-to-video, text-to-3D, and digital biology. LLMs are highly flexible while being able to successfully provide deep domain queries along with translating languages, understanding and summarising documents, writing text, and also computing various programs as per experts.  ChatGPT heralded a major shift in LLM usage since it works as a foundation of transformer neural networks and generative AI. It is now disrupting several enterprise applications simultaneously. These models are now combining scalable and easy architectures with AI hardware, customisable systems, frameworks, and automation with AI-based specialised infrastructure, making it possible to deploy and scale up the usage of LLMs throughout several mainstream enterprise and commercial applications via private and public clouds, and also through APIs.  How LLMs are disrupting sectors like healthcare, pharma, BFSI, and more Large language models are increasingly being hailed as massive disruptors throughout multiple sectors. Here are some aspects worth noting in this regard:  Pharma and Life Sciences:  Healthcare:  The impact of ChatGPT and other tools in healthcare becomes even more important when you consider how close to 1/3rd of adults in the U.S. alone, looking for medical advice online for self-diagnosis, with just 50% of them subsequently taking advice from physicians.  BFS:  Insurance:  The future should witness higher LLM adoption throughout varied business sectors. AI will be a never-ending blank canvas on which businesses will function more efficiently and smartly towards future growth and customer satisfaction alike. The practical value and potential of LLMs go far beyond image and text generation. They can be major new-gen disruptors in almost every space.  FAQs What are large language models? Large language models or LLMs are specialised language frameworks that have neural networks with multiple parameters that are trained on vast amounts of unlabelled text with the usage of self-supervised learning.  How are they limited and what are the challenges they encounter? LLMs have to be contextual and relevant to various industries, which necessitates better training. Personal data security risks, inconsistencies in accuracy, limited levels of controllability, and lack of proper training data are limitations and challenges that need to be overcome.  How cost-effective are the Large Language Models? While building an LLM does require sizeable costs, the end-savings for the organisation are considerable, right from saving costs on human resources and functions to automating diverse tasks.  What are some potential ethical concerns surrounding the use of large language models in various industries? Some concerns include data privacy, security, consent management, and so on. At the same time, there are concerns regarding these models replicating several stereotypes and biases since they are trained using vast datasets. This may lead to discriminatory or inaccurate results at times in their language. 

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Effective marketing strategies for the pharmaceutical industry

Effective Marketing Strategies For The Pharmaceutical Industry To Achieve Growth

December 19, 2022

Growth marketing for healthcare is an area of focus that often goes neglected. Every pharmaceutical business requires a strategic and dedicated marketing blueprint, one that keeps evolving with the growth of the business as well.  It should have sizable flexibility for staying in sync with market circumstances and other disruptions as well.  The key objectives of healthcare marketing strategies would be scaling up brand engagement and awareness, building a reputation for reliability and trust, communicating information about new treatments and pharmaceutical product launches, and so on.  Of course, the end goal is also higher visibility, revenues and sales, along with ROI.  Here are some best practices for pharmaceutical or medical marketing which may be followed for enhancing growth across diverse channels/verticals:  Have Your Audience In Mind Are you marketing for doctors? Or are you marketing for a retail consumer base? You should first define your audience before embarking on pharma and healthcare digital marketing drives.  Set Your Targets Clearly What are your core objectives? Is it penetrating deeper into the market? Is it the promotion of existing treatments and drugs for a newer market? Is it the introduction of new treatments or drugs? Is it otherwise diversifying, i.e. retailing newer treatments or medicines for a wider audience? Chalk it out before starting off.  Have your USPs Listed Out Once you build your USPs, selling and marketing products will be easier. Create differentiators based on product quality, service, and overall track record, pricing, fulfillment timelines, and other parameters.  Do Some Market Research Ask questions to your target audience. Get their insights to learn more about their needs and preferences. Also do your homework on the communication platforms used by your target audience, the emerging trends in the market, the experience you wish to build for this audience, and differentiators from your rivals.  Have Your KPIs (key performance indicators) Clearly Laid Down These metrics may include average revenues, non-prescription sales, overall profits/revenues/sales, and more. Marketing Activities That May Help You  Update and maintain your website which showcases your company in the best possible manner.  Your site should be mobile friendly.  Make it easier for your target audience to access vital information online.  Have resource sections and guides that might help.  Invest in SEO, blogging, and forum activity.  Connect with doctors through online communities worldwide.  Build your company presence across social media channels.  Use CRM for garnering data about all leads and use it for relationship building. Use this data for send personalized greetings, messages, after-sales support, customized email and other marketing campaigns, free samples, offers, and more.  Build posters and other visual interfaces which can attract a higher number of prospective customers.  Optimize your network-building activities by participating in online discussions, professional events, and more.   Target every audience segment differently.  Always focus on the patient and try to offer solutions to varied needs.  You should have measurable KPIs including the new contract figures, monetary values, number of leads qualified/engaged, net sales figures, revenue growth, operational cash flows, retention figures, and percentage of market share.  Other indicators include traffic to your website, SEO rankings, rates of conversion, and overall engagement on social media.

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New Age Pharma: Opportunities And Challenges

September 25, 2020

While the seismic impact of the CoronaVirus pandemic has shaken the world to the core, incremental and breakthrough innovation in the Pharmaceutical Industry is providing a ray of hope. At this point, healthcare organizations are overstretching their capabilities to battle out the crisis. On the other end, the protection of their frontline staff becomes a concern. Precisely, “Covid-19 is a Humanitarian Challenge”, quotes Mr. Sudarshan Jain, the Secretary-General of Indian Pharmaceutical Alliance. Moreover, tight scrutiny measures to support the ongoing efforts of developing the vaccine & repurpose existing drugs to counteract COVID have brought in a series of unprecedented changes in the Pharma & Healthcare industry over a couple of months. Amidst this stringent lockdown and logistics issues, the industry is experiencing disruptive innovation driven by digital inventions. Technologies like AI, Big Data, Analytics, along with progress in Robotics have fast-paced the digital revival in the Healthcare domain. Alongside it has triggered several challenges down the line. In the current premise of Covid-19, when Digitization is reshaping the business model of Pharma, we have a power-packed session with the top industry leaders offering insightful takes on the current scenario. The Biggest Challenge to the Road Ahead In an industry, which is increasingly people-driven, digital transformation cannot be an overnight process. Also, automation won’t replace it completely. It can only augment the process of healthcare. However, Covid-19 has definitely played the catalyst for this change. According to O.P Singh, the President of Sales and Marketing at Cadila Pharmaceuticals Ltd, “transformation from physical to digital even in the COVID scenario won’t be too easy. Instead, Pharma can be a mix of both, offering a “Phygital” experience.” What Drives the Digital Shift in Pharma As a matter of fact, most of the innovations are happening outside the domain of traditional Pharma. It involves a wide spectrum of products and services, which are leveraging digital models while foraying in the Pharma domain. No doubt, the innovations are amplifying the healthcare capabilities with a deep analysis of data for outcome-based solutions. Starting from the invention of biosensor technologies to portals and a suite of smart tools, multiple exciting breakthroughs are coming to the scene. It enhances the self-monitoring capabilities and patient adherence – which further rationalizes clinical decision-making and treatment success. Adding to that, comes data and analytics fuelling a profound transformational shift. Are the traditional pharma companies falling behind the race? We cannot ignore the fact that COVID 19 has already initiated a sea-change in the way healthcare is delivered so far. “Following breakthrough innovations in Robotics nowadays, it is used for sanitizing clinics, which was unthinkable years before”, says Rahul Avasthy, who is leading the Digital Transformation journey of a Fortune 500 Pharma Company. On the other hand, Mr. Singh believes that Robots cannot fully replace human emotions especially in an industry, which is essentially people-driven. But, it’s true that Digital platforms have empowered patients with more accessibility, which we could not think of years before. From discussing mental health ( which is largely a taboo when talked about in public) topics to routine consultations with doctors, everything has become more accessible with more personalized solutions. Rise of Telehealth: Especially in the COVID crisis, Telehealth making timely and responsive care accessible while maintaining the social distancing norms. Leveraging the Predictive Analytics model, it helps in better prognosis, thus helping doctors to come up with a proper treatment plan well in advance. With every passing day, telemedicine is taking pharma communication “ beyond the pill” and providing customized support & education to the end-users. Open Doors to Microlearning: Digitization is making Microlearning in Pharma a reality. It makes the vast knowledge bank accessible, which was originally owned by a specific group of Pharma Companies. It results in better R& D and aids in more accurate clinical trials. The Takeaway According to Abhishek Rungta, CEO of INT. “at the end of the day, the most important thing is people’s transformation. People don’t change overnight. Habits and mind-sets are created over decades, it takes time to adapt. So is true when it comes to the adoption of digital in Pharma. No doubt, the change has been initiated but will take time to shape up as full-fledged business model.

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