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Pivot to the Patient
The document discusses the rapid evolution of life sciences, transitioning from product volume to value-driven healthcare outcomes. It highlights the impact of socio-economic trends, technology, and the demand for personalized medicine, emphasizing the need for life sciences companies to adapt to new models focusing on patient experience and data utilization. The potential economic benefits of applying digital solutions to therapeutic areas suggest significant opportunities for innovation and improved healthcare delivery.
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Pivot to the Patient
- 1. Patient Inspired. OutcomesDriven. PIVOTTO THEPATIENT
- 2. Successive waves ofdisruption are reshaping healthcare – at pace and magnitude. RIDINGWAVES OFDISRUPTION Copyright © 2018 Accenture. All rights reserved. 2 In response to converging forces, life sciences is evol ving rapidly from selling products at volume to delivering value through better patient outcomes. For those ready to seize the opportunity, it’s creating infinite new possibilities to reinvent the patient experience and redefine the future of healthcare.
- 3. FORCESOFCHANGE INTODAY’S BUSINESSMODELS Copyright ©2018 Accenture. All rights reserved. 3 Socio-economic Trends + Healthcare Consumerization + New Science Landscape Catalyzed by Technology, Digital & Data
- 4. Rise in healthcareoutstripped rise in GDP by 55% in 2017 in US.* Payors are demanding proof of improved patient outcomes—value-based contracts have nearly tripled since 2006. THEECONOMICS DON’TLINEUP Copyright © 2018 Accenture. All rights reserved. 4 SOCIO-ECONOMICTRENDS *Source: US Department of Commerce; Centers for Medicare & Medicaid Services
- 5. 5 WHY SHOULD HEALTHISSUES STOP MEFROM LIVING MY LIFE? Patients now expect technology will help them live a happy, fulfilled, ‘normal’ life, despite their medical issues. 50% of millennials seek out care at on the go retail locations. HEALTHCARECONSUMERIZATION Copyright © 2018 Accenture. All rights reserved.
- 6. Digital therapeutics arestarting to achieve outcomes comparable to classical treatments—and they aren’t just complementary to the therapeutic—they are the therapeutic. IT’SABRAVE NEWWORLD Copyright © 2018 Accenture. All rights reserved. 6 NEWSCIENCELANDSCAPE This is paving the way to new science, new markets and new business models.
- 7. Mapping the humangenome enabled breakthroughs in personalized treatments where investment and efficacy can be more certain. Specialized medicines expected to contribute to 52% of top 100 product sales by 2024.* Genomics expected to generate more data than YouTube and other sources by 2025.** THISTIME IT’SPERSONAL Copyright © 2018 Accenture. All rights reserved. 7 NEWSCIENCELANDSCAPE *Source EvaluatePharma World Preview 2017 **Source: Stephens, Zachary D., “Big Data: Astronical or Genomical;” PLoS Biology, 2015
- 8. 8 NEWTECH, NEWWORLD AI, IoT, cloudand wearables allow for real-time data and insight. This creates opportunities for entirely new business models and “always” on patient care. Copyright © 2018 Accenture. All rights reserved.
- 9. 9 …WITHDATA INTHE DRIVINGSEAT Copyright © 2018Accenture. All rights reserved. Life sciences companies need to grapple with big data sets produced by many sources including payers, health providers, devices, and a host of other third party data sources.
- 10. Copyright © 2018Accenture. All rights reserved. 10 PERVASIVE SENSORS/IoT Health monitoring at point of need Smart tattoos | Connected clothing Digestible sensors DATA Genomic | EMR | Behavioral | Lifestyle Nutritional FASTER, CHEAPER, CONNECTED COMPUTING POWER Private and Public Cloud | Limitless data storage Quantum Computing BLOCKCHAIN Secure EMR | Digital clinical trials Supply chain integrity/anti counterfeiting | Patient services ARTIFICIAL INTELLIGENCE RPA/Machine learning | Algorithms Bots | Chatbots AUTOMATED DELIVERY/DRONES Drones | Uber services Autonomous vehicles PERSONALIZED SCIENCE Genomic technologies | CRISPR CarT | Nanobots | Digital pills 3D PRINTING/ MANUFACTURING IoT Bioprinting - bones, tissues | Devices | Proactive maintenance in manufacturing | Lights-out factories | Connected, responsive supply chains LIVING SERVICES ANALYTICS Prescriptive | Predictive | Cognitive Visualization THEPOWEROFDATAANDAI CONVERGINGAROUNDTHEPATIENT
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- 12. FAST-CHANGING COMPETITIVE LANDSCAPE The life scienceslandscape is getting fiercely competitive. New players and digital entrants are muscling in while incumbents are repositioning to stay competitive. Everyone wants a bigger share of the healthcare value chain—with many intent on fundamentally changing it. Copyright © 2018 Accenture. All rights reserved. 12 DECEMBER 2017 JANUARY 2018 FEBRUARY 2018 MARCH 2018 APRIL 2018 + + + + + + + + + + JUNE 2018 + +
- 13. Copyright © 2018Accenture. All rights reserved. 13
- 14. WHOSEBETTINGON NON-MOLECULARMEDICINE? Copyright © 2018Accenture. All rights reserved. 14 Six Example Deals & Relative Company Investment in Digital, Data and Genomics, Private and Public funding Transactions 2007 — 2017 (Accenture Research Infographic) DIGITAL DATA GENOMICS Biogen 95K – $400M Sanofi Ventures – $400M Otsuka – Collaboration Harbin Gloria – $40M (JV) 2016 Many more Roche Sanofi Ventures UCB Amgen Ventures Lilly Novartis Gementtry Novo – $9M 2017 Pfizer – $9M 2017 JNJ BMS Celgene Merck (MSD) (Others as well non-pharma) GRAIL $900M (Series B) FLATIRON $1.9B Acquisition AMRA MEDICAL PROTEUS DIGITAL HEALTH VERILY SCIENCE 37 *Source: Accenture Research, CBInsights, and Rock Health 2017 Investment Data
- 15. The opportunity tocreate new value is up for grabs. In the US, applying digital to just six therapeutic areas could deliver an economic impact of $96B+. THE OPPORTUNITY TORELEASE TRAPPED VALUE Copyright © 2018 Accenture. All rights reserved. 15 $96.9B potential $60B+ risk adjusted potential* $24B Congestive Heart Failure 6,325,226 US patients $13.6B risk adjusted $42B Diabetes 38,260,665 US patients $30.3B risk adjusted $10B Alzheimer’s Disease 5,400,000 US patients $6.2B risk adjusted $9.7B HIV 1,329,913 US patients $4.8B risk adjusted $7.5B Breast Cancer 3,369,487 US patients $2.8B risk adjusted $4.7B Multiple Myeloma 148,728 US patients $2.3B risk adjusted *Source: “Digital Affectability: Therapeutic Lens on Value;” Accenture Research, 2017
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- 17. Copyright © 2018Accenture. All rights reserved. 17 Patient Do patients love the experience? Paying entity Do you drive value for the payor and whole system? Health & Wellness System Do you drive value by connecting all pieces? Enhanced Product Outcome Focused Platform EconomyData Platforms Intelligence/AI Tech Digital Basics Data Platforms CHOOSEYOURPATHTO NEWMODELS Science Does the science drive breakthrough results? Product
- 18. ROTATETO THENEW Copyright © 2018Accenture. All rights reserved. 18 1. The timing, scale and direction of investment are crucial – transformation will be ongoing and paced. 2. Traditional products will coexist with specialized, digitally-enabled science and services demanding a modernized acquisition & growth strategy. 3. The Wise Pivot is vital to protect your core business while building new outcomes-driven models where the right partnerships are crucial.
- 19. Reimagine your corebusiness to create new efficiencies and unlock trapped value. TRANSFORMYOURCORE Copyright © 2018 Accenture. All rights reserved. 19Copyright © 2018 Accenture. All rights reserved. 19Copyright © 2018 Accenture. All rights reserved. 19 BECOME THE MODERN ENTERPRISE Apply automation, robotics, machine learning and analytics to accelerate and improve R&D, manufacturing /supply, and access to markets. ACHIEVE COMPETITIVE AGILITY Clarify value and simplify systems. Acquire and release value to the core while redefining your current position in the healthcare landscape. EMBRACE NEW IT Adopt new tech and analytics to make better business decisions that improve patient care. Leverage insights to enhance your go-to-market models. TRANSFORM FUNCTIONS Consolidate and strengthen your therapeutic position, while enabling cross- functional scale and connectivity via data, digitization and your portfolio strategy.
- 20. Invest in productsand capabilities to create new value, using core strengths to improve your competitive position and power better, faster innovations. GROWYOURCORE Copyright © 2018 Accenture. All rights reserved. 20Copyright © 2018 Accenture. All rights reserved. 20 USE APPLIED INTELLIGENCE Relentlessly pursue value creation by using new data- driven insights and analytics to inform better, more timely, streamlined decisions. BECOME A TRULY LIVING BUSINESS Create dominant positions in select therapies and/or segments. Redefine the new normal patient and customer drivers and evolve to a flexible personalized service design. EMBRACE INDUSTRY X.0 Capitalize on the digital reinvention of industry via smart, connected, ‘living’ tech to transform your business and accelerate innovation. SHAPE YOUR FUTURE WORKPLACE Transform your capabilities with new talent, skills and expertise to enable a more liquid, responsive and innovative future workforce.
- 21. Construct patient-centered, digitallyenabled ecosystems, reaching new markets via collaboration with traditional and non-healthcare players. Copyright © 2018 Accenture. All rights reserved. 21 SCALEINTHENEW ENHANCE PRODUCTS Apply intelligence and services to the scientific and therapeutic model across your value chain to attract new customers and compete with new entrants. FOCUS ON OUTCOMES Reposition offerings as outcomes-driven programs. Compete on portfolio vs product metrics. Share in value with customers across care pathways and ecosystems. LEVERAGE THE PLATFORM ECONOMY Drive value, grow revenue, and build competitive advantage via new platform offerings that scale and cater to multiple customers simultaneously with a system-lead strategy.
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