The IBM Institute for Business Value surveyed 205 life sciences executives in 18 countries. The study, conducted in collaboration with the Economist Intelligence Unit (EIU), included chief financial officers (CFOs), chief technology officers (CTOs) and chief information officers (CIOs). Those participating had to meet specific criteria: they were either working with — or planning to work with — blockchains in the next 12 months, and they needed to be familiar with the blockchain strategies of their organizations.
To lead digital transformation, CIOs at pharmaceutical and medical device companies need to adopt new workstyles and mindsets, including C-level relationship-building and the ability to both catalyze innovation and find the talent to execute on it.
This document summarizes the key findings of Deloitte's 2018 Human Capital Trends report for Switzerland. Three major themes were driving the need for businesses to evolve: 1) the rising power of individuals is increasing expectations for work experiences, rewards, and career development; 2) organizations are expected to fill leadership gaps in society by addressing issues like citizenship, social impact, and an aging workforce; 3) new technologies create opportunities for sustainable growth but also unforeseen societal impacts that organizations must address through skills development, data privacy, and leveraging technologies like AI to complement humans. The report provides data on Swiss companies' readiness and priorities regarding these trends and calls for organizations to build social capital through stakeholder engagement, mission/
Our annual review of 11 publicly held global technology consulting firms indicates a soft Q4 in 2018, with HLS business growth dropping below overall company growth. HCL continued to be an exception, growing at an impressive 18.56% on a YoY basis, Wipro’s struggles with the HPS acquisition may be bottoming out. The HLS business could be headed for a breakout year in 2019. Find out about their financial performance, mergers and acquisitions, customer wins, strategic partnerships, new product initiatives and leadership announcements in this edition of the WITCH report.
The Work Ahead in Life Sciences: Cures at the Speed of DigitalCognizant
COVID-19 accelerated digital transformation in the life sciences industry. Life sciences companies had to quickly adapt their operations to digital ways of working and doing business. This included moving to remote work and online engagement with clinicians and patients. As a result, digital technologies have become an operational imperative rather than just a strategic priority. Looking ahead, life sciences companies expect to generate double the revenue from digital channels by 2023 compared to today. They will need to overhaul their business models to support new digitally-enabled care delivery models. Key processes like clinical research and development will become more augmented by technologies like IoT, AI, analytics and automation in the next three years.
Many startup companies are struggling to make it out of the “valley of death” – the period between the initial investment and creation of a commercially-viable product.
Financial pressures that stem from health care reform, the transition to value-based care, tougher insurance coverage, and increased regulatory requirements are causing some corporate and venture capital investors to step back from making investments in early-stage, as yet unproven, medtech innovation and technologies.
Consequently, investment and startup activity in medtech has been declining, putting future medtech innovation at risk.
The document discusses how healthcare is undergoing a paradigm shift driven by rising costs, changing demographics, and issues with quality of care. It outlines how technology is central to addressing these challenges through virtual monitoring, telemedicine, reducing errors, and enabling preventative care. The future of healthcare is predicted to be more integrated, personalized, preventative, and patient-centric with a focus on wellness over sickness. Emerging areas discussed include biologics, genomics, medical devices, electronic records, and integrated solutions that combine products and services.
1. The healthcare informatics industry utilizes information technologies and management strategies to improve processes and efficiency in healthcare. McKesson Technology Solutions is a major player providing clinical software, pharmacy automation, and other IT services to hospitals.
2. McKesson's revenues have increased each year from $108 billion in 2008 to $112 billion in 2009. They are ranked 14th on the Fortune 500 list. McKesson provides solutions for electronic health records, computerized physician order entry, and decision support systems.
3. Trends in the industry include a focus on digitizing paper records, developing automated decision support systems using electronic data, and automating patients' medical histories. Regulatory acts are also driving increased IT adoption,
To lead digital transformation, CIOs at pharmaceutical and medical device companies need to adopt new workstyles and mindsets, including C-level relationship-building and the ability to both catalyze innovation and find the talent to execute on it.
This document summarizes the key findings of Deloitte's 2018 Human Capital Trends report for Switzerland. Three major themes were driving the need for businesses to evolve: 1) the rising power of individuals is increasing expectations for work experiences, rewards, and career development; 2) organizations are expected to fill leadership gaps in society by addressing issues like citizenship, social impact, and an aging workforce; 3) new technologies create opportunities for sustainable growth but also unforeseen societal impacts that organizations must address through skills development, data privacy, and leveraging technologies like AI to complement humans. The report provides data on Swiss companies' readiness and priorities regarding these trends and calls for organizations to build social capital through stakeholder engagement, mission/
Our annual review of 11 publicly held global technology consulting firms indicates a soft Q4 in 2018, with HLS business growth dropping below overall company growth. HCL continued to be an exception, growing at an impressive 18.56% on a YoY basis, Wipro’s struggles with the HPS acquisition may be bottoming out. The HLS business could be headed for a breakout year in 2019. Find out about their financial performance, mergers and acquisitions, customer wins, strategic partnerships, new product initiatives and leadership announcements in this edition of the WITCH report.
The Work Ahead in Life Sciences: Cures at the Speed of DigitalCognizant
COVID-19 accelerated digital transformation in the life sciences industry. Life sciences companies had to quickly adapt their operations to digital ways of working and doing business. This included moving to remote work and online engagement with clinicians and patients. As a result, digital technologies have become an operational imperative rather than just a strategic priority. Looking ahead, life sciences companies expect to generate double the revenue from digital channels by 2023 compared to today. They will need to overhaul their business models to support new digitally-enabled care delivery models. Key processes like clinical research and development will become more augmented by technologies like IoT, AI, analytics and automation in the next three years.
Many startup companies are struggling to make it out of the “valley of death” – the period between the initial investment and creation of a commercially-viable product.
Financial pressures that stem from health care reform, the transition to value-based care, tougher insurance coverage, and increased regulatory requirements are causing some corporate and venture capital investors to step back from making investments in early-stage, as yet unproven, medtech innovation and technologies.
Consequently, investment and startup activity in medtech has been declining, putting future medtech innovation at risk.
The document discusses how healthcare is undergoing a paradigm shift driven by rising costs, changing demographics, and issues with quality of care. It outlines how technology is central to addressing these challenges through virtual monitoring, telemedicine, reducing errors, and enabling preventative care. The future of healthcare is predicted to be more integrated, personalized, preventative, and patient-centric with a focus on wellness over sickness. Emerging areas discussed include biologics, genomics, medical devices, electronic records, and integrated solutions that combine products and services.
1. The healthcare informatics industry utilizes information technologies and management strategies to improve processes and efficiency in healthcare. McKesson Technology Solutions is a major player providing clinical software, pharmacy automation, and other IT services to hospitals.
2. McKesson's revenues have increased each year from $108 billion in 2008 to $112 billion in 2009. They are ranked 14th on the Fortune 500 list. McKesson provides solutions for electronic health records, computerized physician order entry, and decision support systems.
3. Trends in the industry include a focus on digitizing paper records, developing automated decision support systems using electronic data, and automating patients' medical histories. Regulatory acts are also driving increased IT adoption,
Healthcare informatics involves the intersection of business, information systems, and healthcare to support clinical care, health administration, and patient/provider care. Information systems help automate and digitize the healthcare industry by increasing data availability and meeting regulatory compliance. McKesson Technology Solutions (MTS) is a market leading firm that provides enterprise software solutions and services to over 52% of health systems and 20% of physician practices. As a core part of each MTS business unit, the information systems department develops products that support trends in healthcare informatics, such as clinical decision support and electronic pharmacy systems. Recently, MTS expanded its product offerings through a new distribution agreement while also facing several lawsuits.
Historically, the medical device industry has been highly attractive and relatively stable. As a consequence, established players have been able to compete successfully across the device spectrum, applying common business models and processes without much need for differentiation.
The future, however, is very different as disruptive change is underway. Companies will need to look at new segments and offer end-to-end solutions to secure additional revenue and maintain their profit margins.
Deloitte research found that while many medtech companies are well-positioned to drive the future of health, they likely won’t be able to do it alone. Rather than focusing on making incremental
improvements to their devices, they should focus on using transformative and cognitive technologies
to enhance products and offer services. They could do this by developing or partnering to acquire
sophisticated data analytics capabilities, getting much closer to the consumer, and leveraging new
cognitive technologies to improve operations.
Payers are being challenged as the industry shifts from volume-based care to a value-based reimbursement structure that would benefit the patient, the healthcare provider and the payer. New payment models including fee-for-service only and pay-for performance creates impetus for payers to acquire, aggregate, and analyze data.
Prescriptions for Healthcare's Digital CIOsCognizant
This document discusses the changing role of healthcare CIOs as the industry undergoes digital transformation. It finds that CIOs must take on new roles like chief integration officer to help their organizations adopt digital capabilities. The top driver for digital adoption is improving the patient experience. CIOs must partner closely with CMOs, as marketing owns the digital customer experience. However, CIOs have unique expertise in integrating legacy systems and data that is critical for digital initiatives. Overcoming barriers like limited budgets and legacy systems will require CIO leadership.
This document provides an overview of nine macro technology forces that are shaping technology trends: digital experiences, analytics, cloud, digital reality, cognitive technologies, blockchain, modernizing core systems, transforming the business of technology, and evolving cyber strategies. It discusses how these forces have evolved from emerging innovations to foundational components of business and technology. Specifically, it notes that while digital experiences, analytics, and cloud are now ubiquitous, their full potential remains largely untapped. It also describes how digital reality, cognitive technologies, and blockchain are poised to become equally impactful macro forces. The document emphasizes that harnessing the power of these nine intersecting forces through "controlled collision" can drive meaningful digital transformation and help organizations journey beyond the digital frontier.
In recent years, medical device manufacturers have embarked on an acquisition binge. We’ve seen a series of blockbuster deals as well as numerous smaller transactions. This M&A bonanza has been sparked in part by the belief that absolute scale creates competitive advantage.
But does it? In many other industries, we find a clear correlation between overall scale and profitability. Classic strategy has long focused on building scale because larger companies tend to wield more influence with customers and have a greater ability to maintain pricing discipline. They also benefit from the most accumulated experience with driving down costs and can spread costs over the widest base of business.
Yet in medtech, the correlation between industry scale and profitability is quite weak. Instead, Bain research shows that profitability is more a function of category leadership than overall scale.
The Hospital Digital Experience Index: Research AbstractDave Wieneke
Dave Wieneke is creating a patient experience benchmark for hospital systems to use to score how well their website serve patients in comparison to others and best practices.
U.S. Healthcare - Converting Vision to RealityCognizant
The document discusses the ongoing transformation of the U.S. healthcare industry as it works to address rising costs and improve quality of care. It describes several key areas of change: 1) the development of a national healthcare IT infrastructure to share patient data electronically, 2) integrated health management through coordinated care models like patient-centered medical homes and accountable care organizations, and 3) personalized medical care enabled by new diagnostic technologies. Realizing this vision will require overcoming challenges around standards, costs, and adapting to disruptive trends in technology and demographics.
Interoperability between electronic health record systems will continue to be a major issue in 2016. Healthcare consumerism is expected to grow as consumers demand more convenient access to healthcare information and services through digital technologies. However, the value of big data analytics may be difficult to prove as healthcare organizations struggle with data integration and a lack of analytics talent. There is also a risk that some healthcare startups could run afoul of regulators or have their apps shut down if they do not properly address privacy, safety and licensing issues. The role of technology leadership in healthcare organizations may broaden beyond the traditional CIO to include other executives focused on specific areas like analytics, security and digital transformation.
The Fourth Industrial Revolution will permanently change how medical device companies do business. Historically, the medical device industry has created tremendous value via the creation of therapeutic devices. It is now time for the industry to invest more effort in analytics-based solutions that enable seamless, real-time care management.
Contemporary Health Information Technology (HIT): Opportunities and Challenges
Wullianallur Raghupathi1, Viju Raghupathi2, Joseph Tan3*
1Professor, Gabelli School of Business, Fordham University, USA
2Associate Professor, Koppelman School of Business, Brooklyn College of the City University of New York
3Professor, DeGroote School of Business, McMaster University
This document discusses contemporary health information technology opportunities and challenges. It describes how most healthcare organizations have implemented basic HIT like EHRs but must now adopt more transformational applications using technologies like AI, big data analytics, blockchain, cloud computing and more. However, technological issues around interoperability, costs and expertise remain challenges. Managerial challenges also exist regarding security, privacy, governance and demonstrating return on investment of HIT. Overall healthcare organizations need to address both technical and managerial challenges to successfully transform with HIT.
iHT2 Health IT Summit Boston 2013 – Scott Lundstrom, Group Vice President Presentation, IDC Health Insights "IT Strategies for an Uncertain Future - Embracing Change and Innovation"
Presentation "IT Strategies for an Uncertain Future - Embracing Change and Innovation"
The widespread changes demanded by reform continue to create angst and opportunities for healthcare providers. Quality, cost and compliance initiatives, changing business models, and new care delivery technologies are all demanding our attention. Uncertainty is high, but the call to action is strong, and there is tremendous pressure to show broadly based progress across the technology portfolio. How can IT and the business move forward on a common plan in these uncertain times? Leading organizations are already building a platform for the future. By focusing on reducing costs, improving quality, and supporting business innovation technology, significant progress can be made to support a broad range of possible post reform business models. By focusing on a core group of enabling technologies health organizations can become better prepared to survive in the post reform market. What are the core key enabling technologies required by any health organization in the future? Where should resource constrained organizations focus their attention?
Distributed Ledger Tech Applications - Health Report V1-12Sean Manion PhD
This document provides an overview of distributed ledger technology applications in healthcare. It discusses using blockchain to improve value and outcomes in health research by more efficiently allocating research funds and facilitating data sharing between researchers. It proposes a system called Value Based Health Research that would standardize and analyze research administration data using blockchain to speed up the research process and better link research funding to health outcomes. The document also provides a top 10 list of blockchain events in healthcare in 2018.
Advanced analytics playing a vital role for health insurersBodhtree
Insurance companies are realizing the benefits of using advanced analytics for designing products, segmenting and developing metrics for risk management.Analytics can enable the compilation of information about trends, patterns, deviations, anomalies and relationships and reveal insight.
Reducing Health Care Costs by Pulling IT into Healthcare Organizationsosloy2k
Much has made of the government’s effort to “push” IT, or more accurately electronic health records into healthcare. This article examines how we might pull other IT solutions such as evidence based medicine and secure physician communication into healthcare organizations.
This document discusses 4 key challenges for healthcare entities in harnessing big data and analytics: 1) Gaining access to different data streams from other organizations due to fragmented healthcare systems, technological hurdles, and strategic/privacy concerns. 2) Ensuring high quality data by addressing inconsistencies across data sources. 3) Developing robust algorithms and analytics that are supervised by domain experts and can evolve over time. 4) Investing in analytics solutions that are flexible and scalable given the rapidly changing technological environment.
Digital technologies like 3D printing, blockchain, and robotics are disrupting the traditionally regulated life sciences sector. This transformation brings new compliance risks around issues like:
- Partnerships with companies from other sectors that may not understand life sciences compliance
- Use of data from wearables and how it will be protected and used ethically
- Interactions with regulators to approve innovative, non-traditional products like those using artificial intelligence
- Power of informed patients who want treatments based on measurable outcomes
The high level of sector regulation remains, but methods of improper practices may change. Ongoing monitoring of issues like interactions with healthcare professionals and reliance on third parties will still be needed to mitigate corruption risks in this disrupted environment
How the Internet of Things Is Transforming Medical DevicesCognizant
The Internet of Things (IoT) should be a central focus for medical device companies, as IoT dramatically expands and enhances the field for the entire stakeholder ecosystem. We offer a roadmap for medical devices companies seeking a wise and effective path forward with IoT.
Healthcare informatics involves the intersection of business, information systems, and healthcare to support clinical care, health administration, and patient/provider care. Information systems help automate and digitize the healthcare industry by increasing data availability and meeting regulatory compliance. McKesson Technology Solutions (MTS) is a market leading firm that provides enterprise software solutions and services to over 52% of health systems and 20% of physician practices. As a core part of each MTS business unit, the information systems department develops products that support trends in healthcare informatics, such as clinical decision support and electronic pharmacy systems. Recently, MTS expanded its product offerings through a new distribution agreement while also facing several lawsuits.
Historically, the medical device industry has been highly attractive and relatively stable. As a consequence, established players have been able to compete successfully across the device spectrum, applying common business models and processes without much need for differentiation.
The future, however, is very different as disruptive change is underway. Companies will need to look at new segments and offer end-to-end solutions to secure additional revenue and maintain their profit margins.
Deloitte research found that while many medtech companies are well-positioned to drive the future of health, they likely won’t be able to do it alone. Rather than focusing on making incremental
improvements to their devices, they should focus on using transformative and cognitive technologies
to enhance products and offer services. They could do this by developing or partnering to acquire
sophisticated data analytics capabilities, getting much closer to the consumer, and leveraging new
cognitive technologies to improve operations.
Payers are being challenged as the industry shifts from volume-based care to a value-based reimbursement structure that would benefit the patient, the healthcare provider and the payer. New payment models including fee-for-service only and pay-for performance creates impetus for payers to acquire, aggregate, and analyze data.
Prescriptions for Healthcare's Digital CIOsCognizant
This document discusses the changing role of healthcare CIOs as the industry undergoes digital transformation. It finds that CIOs must take on new roles like chief integration officer to help their organizations adopt digital capabilities. The top driver for digital adoption is improving the patient experience. CIOs must partner closely with CMOs, as marketing owns the digital customer experience. However, CIOs have unique expertise in integrating legacy systems and data that is critical for digital initiatives. Overcoming barriers like limited budgets and legacy systems will require CIO leadership.
This document provides an overview of nine macro technology forces that are shaping technology trends: digital experiences, analytics, cloud, digital reality, cognitive technologies, blockchain, modernizing core systems, transforming the business of technology, and evolving cyber strategies. It discusses how these forces have evolved from emerging innovations to foundational components of business and technology. Specifically, it notes that while digital experiences, analytics, and cloud are now ubiquitous, their full potential remains largely untapped. It also describes how digital reality, cognitive technologies, and blockchain are poised to become equally impactful macro forces. The document emphasizes that harnessing the power of these nine intersecting forces through "controlled collision" can drive meaningful digital transformation and help organizations journey beyond the digital frontier.
In recent years, medical device manufacturers have embarked on an acquisition binge. We’ve seen a series of blockbuster deals as well as numerous smaller transactions. This M&A bonanza has been sparked in part by the belief that absolute scale creates competitive advantage.
But does it? In many other industries, we find a clear correlation between overall scale and profitability. Classic strategy has long focused on building scale because larger companies tend to wield more influence with customers and have a greater ability to maintain pricing discipline. They also benefit from the most accumulated experience with driving down costs and can spread costs over the widest base of business.
Yet in medtech, the correlation between industry scale and profitability is quite weak. Instead, Bain research shows that profitability is more a function of category leadership than overall scale.
The Hospital Digital Experience Index: Research AbstractDave Wieneke
Dave Wieneke is creating a patient experience benchmark for hospital systems to use to score how well their website serve patients in comparison to others and best practices.
U.S. Healthcare - Converting Vision to RealityCognizant
The document discusses the ongoing transformation of the U.S. healthcare industry as it works to address rising costs and improve quality of care. It describes several key areas of change: 1) the development of a national healthcare IT infrastructure to share patient data electronically, 2) integrated health management through coordinated care models like patient-centered medical homes and accountable care organizations, and 3) personalized medical care enabled by new diagnostic technologies. Realizing this vision will require overcoming challenges around standards, costs, and adapting to disruptive trends in technology and demographics.
Interoperability between electronic health record systems will continue to be a major issue in 2016. Healthcare consumerism is expected to grow as consumers demand more convenient access to healthcare information and services through digital technologies. However, the value of big data analytics may be difficult to prove as healthcare organizations struggle with data integration and a lack of analytics talent. There is also a risk that some healthcare startups could run afoul of regulators or have their apps shut down if they do not properly address privacy, safety and licensing issues. The role of technology leadership in healthcare organizations may broaden beyond the traditional CIO to include other executives focused on specific areas like analytics, security and digital transformation.
The Fourth Industrial Revolution will permanently change how medical device companies do business. Historically, the medical device industry has created tremendous value via the creation of therapeutic devices. It is now time for the industry to invest more effort in analytics-based solutions that enable seamless, real-time care management.
Contemporary Health Information Technology (HIT): Opportunities and Challenges
Wullianallur Raghupathi1, Viju Raghupathi2, Joseph Tan3*
1Professor, Gabelli School of Business, Fordham University, USA
2Associate Professor, Koppelman School of Business, Brooklyn College of the City University of New York
3Professor, DeGroote School of Business, McMaster University
This document discusses contemporary health information technology opportunities and challenges. It describes how most healthcare organizations have implemented basic HIT like EHRs but must now adopt more transformational applications using technologies like AI, big data analytics, blockchain, cloud computing and more. However, technological issues around interoperability, costs and expertise remain challenges. Managerial challenges also exist regarding security, privacy, governance and demonstrating return on investment of HIT. Overall healthcare organizations need to address both technical and managerial challenges to successfully transform with HIT.
iHT2 Health IT Summit Boston 2013 – Scott Lundstrom, Group Vice President Presentation, IDC Health Insights "IT Strategies for an Uncertain Future - Embracing Change and Innovation"
Presentation "IT Strategies for an Uncertain Future - Embracing Change and Innovation"
The widespread changes demanded by reform continue to create angst and opportunities for healthcare providers. Quality, cost and compliance initiatives, changing business models, and new care delivery technologies are all demanding our attention. Uncertainty is high, but the call to action is strong, and there is tremendous pressure to show broadly based progress across the technology portfolio. How can IT and the business move forward on a common plan in these uncertain times? Leading organizations are already building a platform for the future. By focusing on reducing costs, improving quality, and supporting business innovation technology, significant progress can be made to support a broad range of possible post reform business models. By focusing on a core group of enabling technologies health organizations can become better prepared to survive in the post reform market. What are the core key enabling technologies required by any health organization in the future? Where should resource constrained organizations focus their attention?
Distributed Ledger Tech Applications - Health Report V1-12Sean Manion PhD
This document provides an overview of distributed ledger technology applications in healthcare. It discusses using blockchain to improve value and outcomes in health research by more efficiently allocating research funds and facilitating data sharing between researchers. It proposes a system called Value Based Health Research that would standardize and analyze research administration data using blockchain to speed up the research process and better link research funding to health outcomes. The document also provides a top 10 list of blockchain events in healthcare in 2018.
Advanced analytics playing a vital role for health insurersBodhtree
Insurance companies are realizing the benefits of using advanced analytics for designing products, segmenting and developing metrics for risk management.Analytics can enable the compilation of information about trends, patterns, deviations, anomalies and relationships and reveal insight.
Reducing Health Care Costs by Pulling IT into Healthcare Organizationsosloy2k
Much has made of the government’s effort to “push” IT, or more accurately electronic health records into healthcare. This article examines how we might pull other IT solutions such as evidence based medicine and secure physician communication into healthcare organizations.
This document discusses 4 key challenges for healthcare entities in harnessing big data and analytics: 1) Gaining access to different data streams from other organizations due to fragmented healthcare systems, technological hurdles, and strategic/privacy concerns. 2) Ensuring high quality data by addressing inconsistencies across data sources. 3) Developing robust algorithms and analytics that are supervised by domain experts and can evolve over time. 4) Investing in analytics solutions that are flexible and scalable given the rapidly changing technological environment.
Digital technologies like 3D printing, blockchain, and robotics are disrupting the traditionally regulated life sciences sector. This transformation brings new compliance risks around issues like:
- Partnerships with companies from other sectors that may not understand life sciences compliance
- Use of data from wearables and how it will be protected and used ethically
- Interactions with regulators to approve innovative, non-traditional products like those using artificial intelligence
- Power of informed patients who want treatments based on measurable outcomes
The high level of sector regulation remains, but methods of improper practices may change. Ongoing monitoring of issues like interactions with healthcare professionals and reliance on third parties will still be needed to mitigate corruption risks in this disrupted environment
How the Internet of Things Is Transforming Medical DevicesCognizant
The Internet of Things (IoT) should be a central focus for medical device companies, as IoT dramatically expands and enhances the field for the entire stakeholder ecosystem. We offer a roadmap for medical devices companies seeking a wise and effective path forward with IoT.
The Work Ahead: How Data and Digital Mastery Will Usher In an Era of Innovati...Cognizant
In this installment of our Work Ahead series, we focus on the impact of digital transformation on the life sciences industry and what it will take to transform an industry value chain in need of drastic modernization.
Distributed Ledger Tech Applications - Health Report V1.5Sean Manion PhD
This document provides a summary of recent developments in applying distributed ledger technology (DLT) like blockchain to healthcare. It discusses several articles about using blockchain for medical record sharing, clinical trials, and scientific research. Upcoming events are also mentioned, including conferences on applying blockchain in healthcare and a "Blockchain Bootcamp" being held on the topic.
Healthcare Digital Transformation - Outlook and recommendations for 2019Damo Consulting Inc.
In our inaugural review of healthcare’s digital transformation, we assess the current state of digital, analytics, and technology-led innovation in healthcare, and offer our recommendations to healthcare enterprises and technology solution providers.
Distributed Ledger Tech Applications - Health Report V1.2Sean Manion PhD
The document is a newsletter about distributed ledger technology applications in health. It provides summaries of recent blockchain and healthcare news stories, including Blackberry announcing healthcare applications on its Spark platform, Dubai using blockchain for licensing health staff, and a survey finding most hospitals are learning about blockchain but over half may pilot it in the next two years. Upcoming blockchain and healthcare conferences are also listed.
Medtech Joining the Digital Party - December 2015Megan Aparicio
The document discusses how the medical technology (medtech) industry has been slower than other industries and sectors of healthcare to embrace digital transformation. A survey found that only 33% of medtech companies see digital technologies as a major disruptor compared to 57% across all industries. Medtech companies also lag in having a clear digital strategy, properly structured organizations for digital initiatives, and appointing dedicated digital leadership roles. For successful digital transformation, the document recommends medtech companies focus on strategic clarity, appropriate structures, defining ownership of digital efforts, and hiring the right digital talent.
Healthcare: Blockchain’s Curative Potential for Healthcare Efficiency and Qua...Cognizant
Blockchain promises to upend healthcare by streamlining operations, integrating patient medical records and creating new business models. Healthcare organizations must come to grips with the blockchain thinking and technology required to remedy key pain points, our latest research reveals.
Data-driven Healthcare for ManufacturersLindaWatson19
Medical Device Equipment and Hospital Supplies Manufacturers also face increased pressure to comply with strict regulatory procedures to ensure patient safety. Product transparency and efficient end-to-end processes that optimize the manufacturing process and decision making are very important.
Data-Driven Healthcare for Manufacturers Amit Mishra
Data-driven healthcare empowers the providers with a common data platform to discover untapped data-driven opportunities. Healthcare data and its impact on the patient care decision process via accurate, real-time, reliable data from disparate sources is creating a digital health revolution. Physician groups, nursing facilities, hospitals, pharmaceutical companies, clinical researchers, and medical equipment manufacturers are all churning out vast amounts of data during their daily operations. This data has tremendous value and can revolutionize patient care, diagnosis, real-time decisions and help deliver new, unimagined innovations with quality of patient care. Know more about data-driven healthcare at https://www.solix.com/solutions/data-driven-solutions/healthcare/
Blockchain technology has several potential applications in healthcare:
- It can decentralize healthcare data storage and prevent tampering with medical records.
- It can help reduce fraud in pharmaceutical supply chains by allowing every drug dose to be traced from manufacture to administration.
- It may improve healthcare delivery in developing regions like Africa by boosting data sharing and record keeping.
با گسترش فناوری اطلاعات و سرویس های مختلفی امروزه در زندگی انسان ها ارائه می شود حوزه سلامت و درمان هم بی بهره از این گسترش فناوری نبوده و در صورتی که سیاستمداران و برنامه ریزان کشور بتوانند از ظرفیت های ترکیب دانش پزشکی و فناوری اطلاعات بهره ببرند شاید با وجود افزایش جمعیت کهنسال و نیاز به رسیدگی های خاصی که در این قشر احساس می شود بتوان در کاهش هزینه های درمان گامی برداشت
#Infographic DIGITAL HEALTH TECH VISION 2018 Intelligent Enterprise Unleashederaser Juan José Calderón
#Infographic DIGITAL HEALTH TECH VISION 2018 Intelligent Enterprise Unleashed.
THE WORLD
HAS REACHED
A POINT
where technology is deeply embedded in our
lives—and the lines between business and
personal are blurred more than ever.
Learn about the healthcare IT trends that will shape 2017 and beyond. Discover how healthcare on the blockchain will move from theory to practice, how the Trump presidency will rock the healthcare boat, how demand will drive adoption of healthcare e-commerce and how telehealth will finally go mainstream.
The document discusses how major tech companies like Amazon, Google, Microsoft, Apple, and Oracle are expanding their presence in the $11 trillion healthcare market. It provides an overview of each company's focus areas and recent activities, including Amazon acquiring One Medical to enter the primary care market, Google's focus on life sciences and precision medicine through Verily, Microsoft building tools for clinical care through partnerships, Apple's strategy to bring its devices into healthcare, and Oracle's acquisition of Cerner to integrate healthcare IT solutions.
Will Blockchain Revolutionize Healthcare? The Truth or A HypeJamesSmith56195
The healthcare industry is complex, with many different stakeholders involved in the patient care. These include doctors, hospitals, insurance companies, and even government agencies. Blockchain technology could streamline communication between all of these parties, making it easier to exchange information critical to patient care.
Distributed Ledger Tech Applications - Health Report V1.6Sean Manion PhD
This newsletter provides updates on applications of blockchain and distributed ledger technology in healthcare. It discusses several healthcare organizations working on blockchain projects related to credentialing and genetic data. Upcoming events are also highlighted, including a webinar on blockchain compliance and cybersecurity from Indiana University Health and Sentara Healthcare, and a blockchain bootcamp at the Node Digital Medicine Conference in December.
A review of recent trends in the health sector using Blockchain Technology (BT)IRJET Journal
This document discusses the potential applications of blockchain technology in the healthcare sector. It begins by outlining several significant uses of blockchain in healthcare, including securely storing patient medical records, authenticating transactions, improving security and transparency, giving patients ownership of their health records, supporting clinical trials, and reducing costs. It then examines some key enablers of blockchain for healthcare like network structure security, identity verification, and authorization patterns. The document concludes that blockchain technology could transform various areas of the healthcare system by facilitating more efficient and secure data sharing between healthcare providers and other stakeholders.
Similar to How life sciences can win with blockchain (20)
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Em consonância com os ODS – Objetivos do Desenvolvimento Sustentável e a Estratégia Global para a Saúde das Mulheres, Crianças e Adolescentes, e aplicando uma abordagem baseada nos direitos humanos, os esforços de cuidados pós-natais devem expandir-se para além da cobertura e da simples sobrevivência, de modo a incluir cuidados de qualidade.
Estas diretrizes visam melhorar a qualidade dos cuidados pós-natais essenciais e de rotina prestados às mulheres e aos recém-nascidos, com o objetivo final de melhorar a saúde e o bem-estar materno e neonatal.
Uma “experiência pós-natal positiva” é um resultado importante para todas as mulheres que dão à luz e para os seus recém-nascidos, estabelecendo as bases para a melhoria da saúde e do bem-estar a curto e longo prazo. Uma experiência pós-natal positiva é definida como aquela em que as mulheres, pessoas que gestam, os recém-nascidos, os casais, os pais, os cuidadores e as famílias recebem informação consistente, garantia e apoio de profissionais de saúde motivados; e onde um sistema de saúde flexível e com recursos reconheça as necessidades das mulheres e dos bebês e respeite o seu contexto cultural.
Estas diretrizes consolidadas apresentam algumas recomendações novas e já bem fundamentadas sobre cuidados pós-natais de rotina para mulheres e neonatos que recebem cuidados no pós-parto em unidades de saúde ou na comunidade, independentemente dos recursos disponíveis.
É fornecido um conjunto abrangente de recomendações para cuidados durante o período puerperal, com ênfase nos cuidados essenciais que todas as mulheres e recém-nascidos devem receber, e com a devida atenção à qualidade dos cuidados; isto é, a entrega e a experiência do cuidado recebido. Estas diretrizes atualizam e ampliam as recomendações da OMS de 2014 sobre cuidados pós-natais da mãe e do recém-nascido e complementam as atuais diretrizes da OMS sobre a gestão de complicações pós-natais.
O estabelecimento da amamentação e o manejo das principais intercorrências é contemplada.
Recomendamos muito.
Vamos discutir essas recomendações no nosso curso de pós-graduação em Aleitamento no Instituto Ciclos.
Esta publicação só está disponível em inglês até o momento.
Prof. Marcus Renato de Carvalho
www.agostodourado.com
ABDOMINAL TRAUMA in pediatrics part one.drhasanrajab
Abdominal trauma in pediatrics refers to injuries or damage to the abdominal organs in children. It can occur due to various causes such as falls, motor vehicle accidents, sports-related injuries, and physical abuse. Children are more vulnerable to abdominal trauma due to their unique anatomical and physiological characteristics. Signs and symptoms include abdominal pain, tenderness, distension, vomiting, and signs of shock. Diagnosis involves physical examination, imaging studies, and laboratory tests. Management depends on the severity and may involve conservative treatment or surgical intervention. Prevention is crucial in reducing the incidence of abdominal trauma in children.
These lecture slides, by Dr Sidra Arshad, offer a quick overview of the physiological basis of a normal electrocardiogram.
Learning objectives:
1. Define an electrocardiogram (ECG) and electrocardiography
2. Describe how dipoles generated by the heart produce the waveforms of the ECG
3. Describe the components of a normal electrocardiogram of a typical bipolar lead (limb II)
4. Differentiate between intervals and segments
5. Enlist some common indications for obtaining an ECG
6. Describe the flow of current around the heart during the cardiac cycle
7. Discuss the placement and polarity of the leads of electrocardiograph
8. Describe the normal electrocardiograms recorded from the limb leads and explain the physiological basis of the different records that are obtained
9. Define mean electrical vector (axis) of the heart and give the normal range
10. Define the mean QRS vector
11. Describe the axes of leads (hexagonal reference system)
12. Comprehend the vectorial analysis of the normal ECG
13. Determine the mean electrical axis of the ventricular QRS and appreciate the mean axis deviation
14. Explain the concepts of current of injury, J point, and their significance
Study Resources:
1. Chapter 11, Guyton and Hall Textbook of Medical Physiology, 14th edition
2. Chapter 9, Human Physiology - From Cells to Systems, Lauralee Sherwood, 9th edition
3. Chapter 29, Ganong’s Review of Medical Physiology, 26th edition
4. Electrocardiogram, StatPearls - https://www.ncbi.nlm.nih.gov/books/NBK549803/
5. ECG in Medical Practice by ABM Abdullah, 4th edition
6. Chapter 3, Cardiology Explained, https://www.ncbi.nlm.nih.gov/books/NBK2214/
7. ECG Basics, http://www.nataliescasebook.com/tag/e-c-g-basics
Promoting Wellbeing - Applied Social Psychology - Psychology SuperNotesPsychoTech Services
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8 Surprising Reasons To Meditate 40 Minutes A Day That Can Change Your Life.pptxHolistified Wellness
We’re talking about Vedic Meditation, a form of meditation that has been around for at least 5,000 years. Back then, the people who lived in the Indus Valley, now known as India and Pakistan, practised meditation as a fundamental part of daily life. This knowledge that has given us yoga and Ayurveda, was known as Veda, hence the name Vedic. And though there are some written records, the practice has been passed down verbally from generation to generation.
NVBDCP.pptx Nation vector borne disease control programSapna Thakur
NVBDCP was launched in 2003-2004 . Vector-Borne Disease: Disease that results from an infection transmitted to humans and other animals by blood-feeding arthropods, such as mosquitoes, ticks, and fleas. Examples of vector-borne diseases include Dengue fever, West Nile Virus, Lyme disease, and malaria.
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Local Advanced Lung Cancer: Artificial Intelligence, Synergetics, Complex Sys...Oleg Kshivets
Overall life span (LS) was 1671.7±1721.6 days and cumulative 5YS reached 62.4%, 10 years – 50.4%, 20 years – 44.6%. 94 LCP lived more than 5 years without cancer (LS=2958.6±1723.6 days), 22 – more than 10 years (LS=5571±1841.8 days). 67 LCP died because of LC (LS=471.9±344 days). AT significantly improved 5YS (68% vs. 53.7%) (P=0.028 by log-rank test). Cox modeling displayed that 5YS of LCP significantly depended on: N0-N12, T3-4, blood cell circuit, cell ratio factors (ratio between cancer cells-CC and blood cells subpopulations), LC cell dynamics, recalcification time, heparin tolerance, prothrombin index, protein, AT, procedure type (P=0.000-0.031). Neural networks, genetic algorithm selection and bootstrap simulation revealed relationships between 5YS and N0-12 (rank=1), thrombocytes/CC (rank=2), segmented neutrophils/CC (3), eosinophils/CC (4), erythrocytes/CC (5), healthy cells/CC (6), lymphocytes/CC (7), stick neutrophils/CC (8), leucocytes/CC (9), monocytes/CC (10). Correct prediction of 5YS was 100% by neural networks computing (error=0.000; area under ROC curve=1.0).
Integrating Ayurveda into Parkinson’s Management: A Holistic ApproachAyurveda ForAll
Explore the benefits of combining Ayurveda with conventional Parkinson's treatments. Learn how a holistic approach can manage symptoms, enhance well-being, and balance body energies. Discover the steps to safely integrate Ayurvedic practices into your Parkinson’s care plan, including expert guidance on diet, herbal remedies, and lifestyle modifications.
Integrating Ayurveda into Parkinson’s Management: A Holistic Approach
How life sciences can win with blockchain
1. Team Medicine
How life sciences can win with blockchain
IBM Institute for Business Value
survey conducted by
The Economist Intelligence Unit
2. How IBM can help
As one of the world’s leading research organizations, and one
of the world’s top contributors to open source projects, IBM
is committed to fostering the collaborative effort required to
transform how people, governments and businesses transact
and interact. IBM provides clients the blockchain technology
fabric, consulting and systems integration capabilities to design
and rapidly adopt distributed ledgers, digital identity, blockchain
solutions and consortia. IBM helps clients leverage the global
scale, business domain expertise and deep cloud integration
experience required for the application of these technologies.
Learn more at ibm.com/blockchain.
IBM enables life sciences companies to strategically define,
develop and commercialize solutions that facilitate research and
development (R&D) innovation, help enhance quality of care and
help improve healthcare cost efficiencies. IBM solutions, powered
by Watson Health, can assemble the available data assets with
knowledge-and data-driven analytics and create clinical, scientific
and economic evidence to address multiple needs. IBM can
play an integral part in enabling life sciences organizations as
they seek to increase R&D productivity; drive growth; and enrich
relationships among life sciences companies, payers, providers
and patients. For more information on IBM data, analytics and
solutions to address critical business issues in the life sciences
industry, visit ibm.com/lifesciences
Executive Report
LIfe Sciences and Blockchain
3. Executive summary
The IBM Institute for Business Value surveyed 205 life sciences executives in 18 countries.
The study, conducted in collaboration with the Economist Intelligence Unit (EIU), included
chief financial officers (CFOs), chief technology officers (CTOs) and chief information officers
(CIOs). Those participating had to meet specific criteria: they were either working with — or
planning to work with — blockchains in the next 12 months, and they needed to be familiar
with the blockchain strategies of their organizations.
In our analysis of responses, we focused on First Movers:
• “First Movers” — These are the life sciences companies that are making the initial forays
into blockchain. Twenty percent of life sciences executives surveyed said they are working
with and investing in blockchain now. They expect blockchain to accelerate internal
transformation, improve their ability to access secure, accurate information and enhance
collaboration with other members of the healthcare and life sciences ecosystem.
• New business models and benefits — First Movers expect to see significant reductions in
cost, time and risk, as well the opportunity for business model innovation across four areas:
regulation and compliance, intercompany processes, patient empowerment and end-to-
end serialization (E2E).
More efficient and secure
Life sciences organizations are eager to take the next
steps toward better patient outcomes and service
delivery. However, antiquated and inefficient processes,
along with regulatory concerns and an inherent caution
in applying new technologies, have combined to cause
life sciences to trail other industries in exploring the
potential of blockchain. By providing faster access to
trusted information, better collaboration and increased
transparency, blockchain could go a long way to help
transform life sciences in such areas as personalized
patient engagement, reduced counterfeit medicines
and more effective research and development (R&D).
1
4. • Disruption potential — For life sciences First Movers, our survey reveals that disruption is
possible across three completely different areas: revenue management, adverse event
tracking, and outcome-based contracts. All of these are currently being transformed
across the industry.
Life sciences organizations face different challenges than those in many other industries
when implementing new processes and technologies. The industry is highly regulated, and
significant geographical differences exist in the degree of regulation. Therefore, as life
sciences companies proceed upon their pathways to blockchain, they must consider how
fast should they move, whether network-wide standards are possible and how new delivery
models can be initiated.
20 percent of life sciences industry
executives surveyed, the First
Movers, are working with and
investing in blockchain today
Nearly 70 percent of all life sciences
executives surveyed expect to have
a blockchain network in production
by 2020
7 in 10 of First Movers anticipate
that blockchain will help introduce
new business models and transform
patient engagement
2 Team Medicine
5. Life sciences First Movers – who they are and what
they expect
While executives in life sciences profess a keen interest in developing blockchain solutions,
the expected time frame for doing so trails the first wave of industries we surveyed: banking,
financial markets, healthcare, government and electronics. As a collective, 15 percent of
organizations in those industries — the Trailblazers — planned to have commercial blockchain
solutions at scale by the end of 2017, and a significant majority said they expected to have
such a solution in production by 2019 (see Figure 1).
Figure 1
Playing catch-up: Life sciences industry adoption rate compared to first wave of industries (banking, financial markets,
healthcare, government, electronics)
2017 2020
Trailblazers
15%
Mass adopters
53%
2018 20212019
Life sciences
59%
31%
First-wave industries
32%
10%
Followers
3
6. Even though 20 percent of life sciences organizations surveyed indicated they are working
with and investing in blockchain now, the path to commercialization is expected to be slower
than the first wave of industries. As the green curve in Figure 1 shows, 10 percent of life
sciences organizations plan to have fully functional blockchain solutions in place by 2019,
and almost 70 percent expect to have programs in production by 2020.
Differences also exist in the adoption of blockchain solutions among the various subsectors
of life sciences. Biotechnology companies, pharmaceuticals and generic manufacturers
account for almost 80 percent of First Movers within life sciences. Medical technology,
contract services (research, clinical, manufacturing) and academia make up most of the
remaining First Movers.
For those companies ready to begin implementing solutions, blockchain has the potential to
provide a more transparent and secure way to conduct business, resulting in consensus,
provenance, immutability, finality and efficiency — all of which are areas in which life sciences
organizations have room to improve.
Reducing the frictions that impede progress
In our initial blockchain study, we defined three friction domains that blockchains can help
overcome: information, interaction and innovation (see Figure 2).1
Growth requires a steady
march against friction. Today, friction adds costs and remains a drag on global business. It
has the power to slow progress and sometimes stop it cold.
2 | Interaction
Transaction costs
Degrees of separation
Inaccessible marketplaces
1 | Information
Imperfect information
Inaccessible information
Information risks
3 | Innovation
Restrictive regulations
Institutional inertia
Invisible threats
Frictions
Figure 2
Frictions framework: Blockchains are expected to greatly reduce
nine frictions.
4 Team Medicine
7. We asked life sciences First Movers to identify, from among these three domains, the top
frictions they expect to have the greatest impact on their organizations. They selected
institutional inertia, imperfect information and degrees of separation. (see Figure 3).
Figure 3
Freefall: Top three frictions life sciences First Movers expect to diminish using blockchain
73% | 48% 72% | 58%
Imperfect information
Decision making impeded by
inaccurate, misleading or
incomplete information
Institutional inertia
Legacy systems and bureaucratic
processes that slow down the
ability to innovate and adapt
% 24%
more
71% | 58%
Degrees of separation
Multiple intermediaries exist that
slow down transactions between
parties in your business network
First Movers All others
22%
more
52
more
%
Life sciences First Movers stand out in their expectation that blockchain will help overcome
institutional inertia. Restrictive regulations, bureaucracy and legacy processes are primary
reasons for inertia. Interestingly, institutional inertia ranks among the top three frictions in only
one other industry we surveyed: government. Both life sciences and government march in
lockstep with the regulations and processes that bind them, which makes transformation
much more difficult than in many other industries.
5
8. It isn’t surprising that First Movers see blockchain impacting imperfect information. In life
sciences and healthcare, much patient and clinical data is digitized. But risk and regulations
keep many organizations from sharing data. The lack of interoperability standards further
shuts down the exchange and accessibility of information. Finally, even where data is shared,
too often it isn’t trusted — in part because it is incomplete or may include errors that result
from the manual re-entry of data. Verifying data increases costs and delays.
Life sciences was the only industry surveyed in which degrees of separation was ranked
among the top three frictions. Multiple intermediaries, such as medical distributors, slow
down transactions among various entities within the large and complex life sciences/
healthcare network. But, perhaps, the biggest issue is that life sciences companies do not
have direct access to the ultimate consumers of their products. They often have to buy the
data they need.
Being distanced from the end-user also is a significant contributor to a general lack of trust in
the industry. Pharmaceuticals, in particular, struggle with consumer trust. More than 80
percent of people surveyed in one report say pharmaceutical companies put profits over
people, and a similar number prefer governments more tightly regulate the industry.2
Not every life sciences organization should respond to blockchain technology the same way.
For some, blockchain technology can be transformational. Others, however, may see varied
benefits. How individual organizations respond will depend on their individual circumstances
and needs. As with any new, potentially transformational technology, there is no “one-fits-all”
approach. However, the plans, priorities and investments of the First Movers now working and
investing in blockchain can provide a high-level blueprint for others to follow.
6 Team Medicine
9. New benefits and business models
Slow, antiquated processes that are inefficient and expensive, along with the industry’s failure
to fully embrace digital technology, make life sciences prime for disruption from outside
influences. Such sources as new competition, customer expectations/engagement, shifting
focus, changing regulations and innovation have the potential to significantly impact the
industry. Blockchain can be a solution that helps life sciences organizations mitigate some
of these disruptors.
Life sciences executives recognize that blockchain technology has the potential to provide
benefits, such as the reduction of cost, time and risk, as well as open opportunities
for new business models to emerge. Approximately seven in ten First Movers anticipate the
highest blended benefits (cost, time, risk) to accrue in three areas: regulation and compliance,
intercompany processes and patient empowerment. And they expect new business models
to emerge in three areas: patient empowerment, E2E serialization, and regulation and
compliance (see Figure 4).
Figure 4
Blockchain benefits and business models: First Movers see impact across six areas
Blended benefits
(cost, time, risk)
1. Regulation and compliance
2. Intercompany processes
3. Patient empowerment
Open new
business models
1. Patient empowerment
2. E2E serialization
3. Regulation and compliance
7
10. Regulation and compliance
Regulation and compliance ranked first in blended benefits and third in new business models
among First Movers in life sciences (see Figure 5).
Blockchain solutions not only track compliance, they also can enable smart contract-based
checks as a deterrent to non-compliance. They establish a trusted audit trail verifiable in real
time. This means they also streamline enforcement and deter bad actors from the outset.
Instead of relying on periodic spot inspections, blockchain-enabled smart contracts can help
make sure the appropriate parties are notified of non-compliant events as they happen.
Blockchains establish a platform to automatically enforce privacy regulations because rules
embedded via smart contracts dictate what can be seen and when. Moreover, as data and
transactions are shifted or linked to blockchains, organizations can track who has shared data
and with whom, without revealing the data itself.
Figure 5
Regulation and compliance: Streamlining monitoring and enforcement
Regulation and compliance
Blended benefits (cost, time and risk)
73%
64%
73%
67%
New business models
First Movers All others
Regulation and compliance
Blended benefits (cost, time and risk)
73%
64%
73%
67%
New business models
First Movers All others
Percentage of respondents who see blockchain impacting
blended benefits and business models
8 Team Medicine
11. Intercompany processes
Our survey revealed that blockchain First Movers in life sciences rank intercompany
processes, such as transfer of funds, services, raw materials and finished goods, as the
area in which they expect blockchain will most reduce risk (see Figure 6).
Smart contracts can assure the reliable exchange of goods and information among
companies in the complex life sciences ecosystem. Transactions over the intercompany
supply chain are subject to compliance and audit in finance, accounting, transfer pricing,
capital control and more. In each area, current processes are inefficient and cumbersome.
Blockchain has the potential to bring all transactions into a single platform, making planning
and compliance easier.
One example is a collaboration in which two organizations are exploring blockchain for the
medical devices supply chain. In specialties such as cardiology, the process of getting
devices to hospitals is unwieldy and involves multiple exchanges. Every time data is
exchanged, a potential point of failure is created, such as loss of transparency of assets or the
introduction of incorrect data. Blockchain, however, introduces a method of recording data to
a single, immutable chain. As a result, full transparency of assets would be available across the
supply chain all the way to the patient — ultimately increasing efficiency and reducing waste.3
Figure 6
Intercompany processes: Shortening the audit trail
Intercompany processes
Blended benefits (cost, time and risk)
70%
61%
71%
53%
New business models
First Movers All others
Regulation and compliance
Blended benefits (cost, time and risk)
73%
64%
73%
67%
New business models
First Movers All others
Percentage of respondents who see blockchain impacting
blended benefits and business models
9
12. Patient empowerment
Increasingly the patient is being put at the center of healthcare to drive better health outcomes
and take out cost. Not surprisingly, patient empowerment led the way among life sciences
First Movers as a way to save cost and create new business models (see Figure 7). Blockchain
provides the opportunity for life sciences companies to add patient data in a unified manner
in such areas as consent, adherence and integrated device data — something never
before possible.
Examples of how blockchain can be used for patient empowerment are beginning to emerge
across the industry. The U.S. Food and Drug Administration (FDA), for instance, recently
began a blockchain initiative aimed at defining a secure, efficient and scalable exchange of
health data.4
Transformative healthcare solutions are possible when healthcare researchers
and providers have access to a 360-degree view of patient data. This blockchain technology
is also designed to give patients the opportunity to share their data securely — for research
purposes or across their healthcare providers — and creates opportunities for major
advancements in patient care.
Figure 7
Patient empowerment: Putting patients in the center
Patient empowerment
Blended benefits (cost, time and risk)
68%
55%
73%
58%
New business models
First Movers All others
Regulation and compliance
Blended benefits (cost, time and risk)
73%
64%
73%
67%
New business models
First Movers All others
Percentage of respondents who see blockchain impacting
blended benefits and business models
10 Team Medicine
13. Case study: PokitDok – Blockchain for healthcare and
life sciences API5
PokitDok, with offices in California and South Carolina, powers the DokChain blockchain
for healthcare and life sciences. The company recently partnered with PillPack Pharmacy
and Intel.
PillPack entered into a strategic alliance to leverage PokitDok’s Pharmacy Plan API and
Pharmacy Formulary API to get a consolidated view of patient prescription plans, qualified
formularies, and related financial information.
DokChain provides identity management to validate that each party involved in the
transaction is who they say they are, whether consumer or provider. Also, it can perform
what it is known “autonomous auto-adjudication.” The blockchain can also validate the
supply chain so that, for example, when a doctor writes a prescription, it gets logged on the
chain with transparent pricing for the consumer. This solution has broad implications for
inventory and order management of medical supplies and pharmaceuticals. When
combined, all three of these functions provide a level of proof that makes it much harder to
introduce fraud into the system, while eliminating much of the friction in the current workflow
and protecting the privacy of patient data.
11
14. E2E serialization
More than 70 percent life sciences First Movers ranked E2E serialization — a non-disputable
record of supply chain transactions — second among areas in which they anticipate
blockchain to spur business model innovation. Additionally, more than 60 percent expect
blockchain to help reduce cost, time and risk in E2E serialization (see Figure 8).
Counterfeit drugs create a worldwide problem in both patient health and lost revenue. It is
estimated that illegal operators globally cause more than 100,000 deaths per year and cost
pharmaceutical companies around 18 billion USD in lost revenue.6
Blockchain, however,
makes trusted data available in real time and strips uncertainty out of each step of the process
across the supply chain. For life sciences, this means improved provenance and traceability.
Every transaction in the supply chain, from origin to distributor, can be accurately traced,
assuring delivery of authentic products. Any sudden interruptions or bottlenecks — such as
the shipment of a partial order or products delayed at customs — can be detected. The U.S.
Drug Supply Chain Security Act (DSCSA) requires serialization in the United States for certain
prescription pharmaceutical shipments, and similar legislation exists in Europe.7
Figure 8
E2E serialization: Improving provenance and traceability
E2E serialization
Blended benefits (cost, time and risk)
63%
56%
73%
57%
New business models
First Movers All others
Regulation and compliance
Blended benefits (cost, time and risk)
73%
64%
73%
67%
New business models
First Movers All others
Percentage of respondents who see blockchain impacting
blended benefits and business models
12 Team Medicine
15. Chronicled, a company specializing in smart supply chain solutions, has partnered with
The LinkLab, which focuses on serialization in life sciences, to create the MediLedger project,
a serialized track-and-trace pilot for the pharmaceutical industry.8
The companies, both
based in San Francisco, are aiming for a more secure approach to meet existing regulatory
requirements that is less expensive and cumbersome. The project’s goal is to develop
blockchain solutions around GS1 (barcode) standards and to emphasize data privacy.9
Another example is how temperature-controlled supply chains or cold chains, in conjunction
with blockchain technology, can help preserve the intended attributes of temperature-
sensitive pharmaceuticals.
Blockchain technology can enable a complete record of a product’s temperature to be
tracked from shipping to end user.10
Temperature deviations from prescribed levels — either
too hot or too cold — can trigger early warning signals and prompt necessary adjustments.
These include changing “use by” dates (based on previous pharmaceutical stability testing),
rerouting goods for express delivery or pulling goods from distribution.
Case study: Verifying drug provenance11
A cell phone artificial intelligence technology is being
developed that can identify unique substances and
liquids and thus prove the authenticity of
pharmaceutical products. The application captures
detailed information about a product, and places that
record on the blockchain. The pharmaceutical
product can then be scanned as it passes from one
party to another in the supply chain, to verify that the
data matches what was originally placed on the
blockchain when the substance was created, thus
helping prevent the transport and sale of counterfeit
products. For instance, the application can scan two
pills that look similar to the naked eye and tell them
apart, or even detect if a drug label has been
switched or counterfeited.
13
16. Business areas ripe for disruption
Previously, we listed many external forces that could cause disruption to the industry, such
as new competition and highly restrictive regulations. But what internal processes within life
sciences companies are prone to disruption by blockchain?
First Movers selected gross-to-net revenue management as the area most likely to be
disrupted by blockchain. More than 60 percent identified this as an area they expected
blockchain to improve, compared to just 45 percent from all other organizations. Adverse
event and safety monitoring, and outcome-based contract management were the other areas
in which at least half of First Movers expected to see the most disruption from blockchain
(see Figure 9).
Gross-to-net revenue management
The fact that First Movers identified gross-to-net revenue management as the area most likely
to be disrupted indicates the premium they are placing on the areas where blockchain can
bring the most financial value. For example, it is common for life sciences companies to lose
a percentage of revenue through errors in chargebacks, rebates, returns and undocumented
shortages.12
In the United States alone, revenue loss from “leakage” accounts for tens of
billions of dollars.13
Blockchain technology can help alleviate this issue by providing better
efficiencies in tracking and tracing areas where leakage occurs. A single version of the truth
provides transparency for every action and interaction.
Adverse event and safety monitoring
Fifty-six percent of First Movers cited blockchain as a potential disruptor for adverse event
and safety monitoring. For example, the pharmaceutical industry has the prime responsibility
for the safety of medicines, vaccines, blood products, biotechnology, herbal medicines and
traditional medicines. Many companies have developed innovative and efficient monitoring
systems that have contributed to the successful detection of new safety signals.14
Figure 9
Business areas disrupted: Revenue management tops the list
Disruption
Gross-to-net revenue management
61%
45%
56%
51%
Adverse event, safety and monitoring
First Movers All others
51%
46%
Outcome-based contracts
management and automation
Regulation and compliance
Blended benefits (cost, time and risk)
73%
64%
73%
67%
New business models
First Movers All others
Top three internal processes respondents say blockchain
will disrupt.
14 Team Medicine
17. Healthcare providers are the major contributors of case reports of suspected adverse drug
reports (ADR). With reporting from all healthcare professionals involved in patient care,
blockchain makes it is possible to detect the full spectrum of complications related to
pharmaceutical treatment. Patients also play an important role in pharmacovigilance
activities, from reviewing the product information to the spontaneous reporting of adverse
events from their medicines.
Blockchain to track dispensation of opioids15
Opioid abuse is becoming more common. In the United States, healthcare issues
associated with opioid overdose have become epidemic.
Today when a dispenser orders a controlled substance, the seller, either a distributor or
manufacturer that sells direct, checks the order against a suspicious order monitoring
(SOM) system. Part of that check is the number of opioids the dispenser has ordered in
the past. However, each seller only knows what it has sold the dispenser. No industry-wide
consolidation of records exists.
Blockchain can create an industry-wide, single source of aggregate information about
opioid orders for each dispenser. The total amount would then be available to sellers to use
in SOM systems, while still maintaining the confidentiality of individual order information.
With such information, analytics could be used to determine how many opioids are too
many for a dispenser to order, taking into consideration the nature of the dispenser. For
example, the needs of a pain clinic would likely differ substantially from the needs of a
neighborhood pharmacy.
15
18. Outcome-based contracts
The value of a new drug depends on several variables. For example, what is the disease
progression in the patient and what outcome can be reasonably expected? Given the
well-publicized rise in drug prices, increasing pressure is being applied to pharmaceutical
companies to prove the effectiveness of their offerings. At the same time, the costs for life
sciences to develop new drugs via traditional methods have risen to levels that stifle innovation.
Outcome-based contracts provide for payment once value is demonstrated. For example,
one pharmaceutical company just entered a contract with the U.S. Centers for Medicare
Medicaid Services (CMS) that stipulates payment for a new leukemia drug will be made only
if patients respond to treatment by the end of the first month of administration.16
The cost of
the medication approaches a half million USD for a one-time application. Industry experts
expect the same arrangements to be offered to private insurers. The net result is that pay-for-
performance pricing may increase immediate drug costs, but, in the long term, reduce patient
cost. Blockchain technology can help manage this process by providing trusted verification of
outcomes at the individual level.
16 Team Medicine
19. Recommendations
To best extract value from blockchains, we recommend life sciences organizations to ask
themselves and consider their answers to three questions:
How fast should I move?
Twenty percent of life sciences organizations surveyed have already started. And 70 percent
expect to have blockchain production in progress by 2020. Organizations not investing now in
blockchain should prepare to join the industry in exploring blockchain use cases and potential
network partnerships as soon as possible. However, for many life sciences companies,
the path forward may be a bit bumpier than that for many other industries. The stringent
regulatory environment, a perception of lack of mature technology and insufficient blockchain
skills in the industry all serve as barriers to early blockchain adoption (see Figure 10).
Life sciences companies, in deciding how to move, should pick specific use cases relevant to
their businesses and examine what challenges exist and what steps to take. For example,
consortia should look at use cases, led by regulators, that require industry-wide standards.
Smaller working groups might look for use cases focused on regional ecosystem differences.
Figure 10
Blockades: Barriers to rapid blockchain adoption
Barriers to successful adoption
57%
56%
52%
46%
42%
47%
43%
44%
48%
54%
58%
53%
Percent ranked in top 3 Percent not ranked
Regulatory constraints
Immature technology
Insufficient skills
Lack of executive buy-in
Lack of clear ROI
Insufficient business case
17
20. Can I achieve network-wide standards?
As Figure 10 illustrates, life sciences organizations are aligned on the barriers to blockchain
adoption, with regulatory constraints topping the list. However, blockchain provides the
technology to mitigate a number of regulatory challenges. Blockchain provides the visibility
regulators, such as the FDA, need at every step of the process, from product creation and
approval through delivery to the end user. Blockchains can provide up-to-the-minute, trusted
audit trails, which create widespread accountability and, potentially, reducing the need for
regulatory spot checks.
Consortia, such as non-profit PhUSE, have been laying the groundwork for a better
understanding of blockchain benefits for the life sciences industry, with many organizations
already recognizing that strategic partnerships are necessary to create new business models
across the value chain.17
How can I scale with new revenue models?
Our survey shows that nearly half of life sciences First Movers ranked the lack of a clear ROI
strategy and executive buy-in as barriers to blockchain implementation. These are issues that
should be organizational priorities. Also, dedicated efforts must be in place to attract the talent
needed to address the lack of necessary skills.
Blockchain is an effective technology to solve industry challenges that transcend
organizational boundaries. The business case is predicated on “collective benefits” and the
industry needs to embrace collective solutions. Focus on shared industry problems that
deliver value for all parties.
18 Team Medicine
21. Study team
Mark Treshock, Blockchain Offering Leader, Healthcare and Life Sciences, IBM Services
Heather Fraser, Healthcare and Life Sciences Industry Leader, IBM Institute for Business Value
Veena Pureswaran, Global Research Leader, Blockchain, IBM Institute for Business Values
Contributors
The study team would like to thank the following for their contributions to this executive report:
Julie Bowser, Peter Brandstetter, Christina Busmalis, Francisco Curbera, Nicky Hekster, Wim
Huybrechts, Sumeet Kad, Susheel Ladwa, Selina Lee, Roman Malina, Jordan Mcafoose,
Sunanda Saxena, Vinit Shah, Smitha Soman and Lauren White.
For more information
To learn more about this IBM Institute for Business
Value study, please contact us at iibv@us.ibm.com.
Follow @IBMIBV on Twitter, and for a full catalog of our
research or to subscribe to our monthly newsletter,
visit: ibm.com/iibv.
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Services, develops fact-based strategic insights for
senior business executives around critical public and
private sector issues.
19
22. Notes and sources
1 Cuomo, Jerry, Shanker Ramamurthy, James Wallis, et al. “Fast forward: Rethinking enterprises, ecosystems and
economies with blockchains.” IBM Institute for Business Value. September 28, 2016. https://www-935.ibm.com/
services/us/gbs/thoughtleadership/blockchain
2 White, Kym. “Trust in healthcare: Making progress.” Edelman Website. March 2017. https://www.edelman.com/post/
trust-healthcare-making-progress
3 IBM Institute for Business Value analysis, based on internal case studies or interviews.
4 “IBM Watson Health Announces Collaboration to Study the Use of Blockchain Technology for Secure Exchange of
Healthcare Data.” IBM. January 2017. http://www-03.ibm.com/press/us/en/pressrelease/51394.wss
5 PillPack Deploys PokitDok for Instant Pharmacy Eligibility Assessments.Business Wire. July 2016. http://www.
businesswire.com/news/home/20160721005100/en/PillPack-Deploys-PokitDok-Instant-Pharmacy-Eligibility-
Assessments ; PokitDok teams with Intel on healthcare blockchain solution. Tech Crunch. May 2017. https://
techcrunch.com/2017/05/10/pokitdok-teams-with-intel-on-healthcare-blockchain-solution/
6 Gilbert, David. “Blockchain Technology Could Help Solve $75 Billion Counterfeit Drug Problem.” International
Business Times. April 19, 2016. http://www.ibtimes.com/blockchain-technology-could-help-solve-75-billion-
counterfeit-drug-problem-2355984
7 “Drug Supply Chain Security Act.” U.S. Food and Drug Administration. https://www.fda.gov/Drugs/DrugSafety/
DrugIntegrityandSupplyChainSecurity/DrugSupplyChainSecurityAct/
20 Team Medicine