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Medicine is not the Best Medicine

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As health data proliferates, it is becoming evident that clinical trial outcomes are routinely not replicated in the real world. The pharmaceutical industry can look elsewhere for outcomes. In services. A services-founded approach enables product and medical device companies, pharmaceutical companies, “big Pharma” and emerging biotechs to improve clinical and economic outcomes. This approach can help companies deliver new value to customers and strengthen competitiveness. True services-founded offerings may also command new revenue streams themselves. Realizing these gains demands rethinking services, transforming how they are designed, deployed and measured to fuel growth, profitability and trust.

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Medicine is not the Best Medicine

  1. 1. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
  2. 2. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. In fact, statistics show that medicines by themselves often don’t work. Millions of people are taking medications that will not help them. One study reveals that the top 10 highest-grossing drugs in the US help only between 4% and 25% of the people who take them.
  3. 3. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. So how can pharmaceutical companies still help patients—and drive value? AN ANSWER LIES IN SERVICES.
  4. 4. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. SERVICES DEFINED Services are health-related care management tools for patients, providers or caregivers that enable patients to achieve better health outcomes. Services include a rapidly expanding array of interventions such as: • Digital tools and apps • Nursing support • Remote monitoring • Counseling • Transportation
  5. 5. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. SERVICES SHOULD BE BORN IN R&D The condition, not the therapeutic, must become the focus. Pharma must put the same design and development rigor into services as it does into products. In this new world, services and drug development happen in conjunction.
  6. 6. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. BECOMING SERVICES-CENTERED TAKES TRUE TRANSFORMATION—IT IS NOT FOR EVERY COMPANY. THE RIGHT CANDIDATES NEED SEVERAL FUNDAMENTALS.
  7. 7. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. GET INTENTIONAL ABOUT SERVICES Companies need a clear commercial construct for services. That means setting expectations for their contributions to business performance, which include: • Leadership buy-in • Resources and investment • A fit-for-purpose incentive model • Independence • Consistent accountability
  8. 8. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. DON’T GO IT ALONE Pharma companies can tap into the strengths of others to deliver breakthrough services. Think of it as an ecosystem of care built with partners. Key benefits from partner/ecosystem relationships include: • Bigger selection of services for patients • Better alignment with health authorities’ needs • More opportunities to scale services faster
  9. 9. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. SHAPE THE MARKET Pharma will need to educate stakeholders on the value that services can deliver to influence outcomes-based reimbursement. This will be a long game: • Act now to define the messages instead of waiting for the market. • Value delivered and consumer preferences will be the ultimate drivers of change, with technology and science the enablers.
  10. 10. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. BE DIGITAL Achieving a true services-founded approach requires pivoting the entire business and making the most of digital tools and skill sets. Companies need to: • Transform the operating model. • Align around the disease state with related product portfolio. • Speed R&D processes with digital tools. • Develop the right skills.
  11. 11. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Learn how to reimagine services to improve pharmaceutical competitiveness. Download the full report at: @AccentureStrat Medicine is not the best medicine JOIN THE CONVERSATION: @AccentureLifSci https://www.linkedin.com/company/accenture-strategy https://www.linkedin.com/showcase/10331490/

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