October 27, 2015 at various locations in USA
We live in an exponential world … Rapid shifts in power, the disruptive power of technology and awakening of new aspirations and possibilities. Every market, sector and geography, is being shaken up by new ideas, radical innovation and a new generation of brands and businesses. “Gamechangers”. You can read about them and how they win, in my new book.
Healthcare, and in particular the world is pharmaceuticals, is about to go through the most radical reinvention. As we live longer, and seek more, our attention turns to the science and technology, behaviours and devices that enable this. Look at the Apple Watch. Wellbeing is its number one proposition, with diagnostics, trackers, games and workouts to engage us in better living.
My new keynote, workshop and consulting service FutureHealth 2020 is all about rethinking and reinventing the world of healthcare.
Download my recent keynote here: FutureHealth2020
Healthcare is no longer being rewarded for incremental innovation, me-too products and selling the most pills. Companies will need to demonstrate that their brand adds value to patients and they will have to offer a package of products and health services that the market not only wants and needs but is willing to pay a premium for. Here are just some of the challenges:
- Chronic disease is soaring
- Healthcare policy makers and payers are increasingly mandating what doctors can prescribe
- Pay-for-performance is on the rise
- The boundaries between different forms of healthcare are blurring
- The markets of the developing world, where demand for medicines is likely to grow most rapidly over the next 13 years, are highly varied
- Governments are beginning to focus on prevention rather than treatment
- Regulators are becoming more risk-averse
In order to be successful, companies will need to stop the aggressive marketing focusing only on the product of the current model and:
- Recognise the interdependence of the payer, provider and pharmaceutical value chains
- Invest in developing medicines the market wants to buy
- Adopt a more flexible approach to pricing
- Develop plans for marketing and selling specialist therapies
- Manage multi-country launches and live licensing
- Form a web of alliances to offer supporting services
- Create cultures that are suitable for marketing specialist healthcare packages
- Develop marketing and sales functions that are fit for the future and a knowledge based commercial organisation
Time to think different. FutureHealth 2020 introduces a new vision, inspired by the innovators in healthcare and across every other sector too. Disruptive innovators like 23andMe and Epocrates, Organova and SecondSight. But equally Airbnb and Beauty’in, Uber and Zidisha. The next five years will be crucial, demanding new mindsets and leadership, strategies and innovation, and bold action. What is most exciting is that in this sector compared to all others, we can make the bigger impact, to make life better.Find out more and book >