digital business Historically, the pharmaceutical industry has been slow to adopt digital business models. This is because the industry is typically highly regulated, and many companies have been hesitant to make significant changes to their business model until they have been proven in other industries. However, that has all changed in recent years. The rise of digital health and the increasing demand for personalised medicine have forced pharmaceutical companies to embrace the transition to digital. A recent report by McKinsey found that pharmaceutical firms that are implementing digital change are investing at least 20% of their Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) on digital and analytics programmes. This shift is being driven by several factors. First, digital technologies can help pharmaceutical companies to improve their Research & Development (R&D) processes, clinical trials, and drug manufacturing. Secondly, they can be used to create more personalised patient experiences and improve patient outcomes. Third, they can help pharmaceutical companies to better understand and respond to the needs of healthcare providers. However, becoming an inherently digital business involves working independently from the current complex and siloed business and technology environment that is viewed as creating opportunities for growth. Another distinction is […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
