Transforming the future of clinical development
In the last decade, biopharma companies successfully brought to market many breakthrough treatments that have transformed deadly diseases into manageable chronic conditions, raised the standards of medical care, and helped improve the quality of patients’ lives.
However, many in biopharma R&D admit that the current high-risk, high-cost R&D model is unsustainable.
A number of clinical trial activities still use the same processes as in the 1990s, and the clinical development enterprise has largely failed to keep pace with the ever-growing amounts of real-world evidence, genomics information, and emerging data sources (such as biosensors). Harnessing this data could help demonstrate that new treatments result in differentiated improvements in patient and health economic outcomes. Yet companies are challenged to generate this evidence as efficiently as possible to allow for meaningful return on R&D investment.
Digital technologies can transform how companies approach clinical development by incorporating valuable insights from multiple sources of data, radically improving the patient experience, enhancing clinical trial productivity, and increasing the
amount and quality of data collected in trials. Collectively, digital technologies can help achieve the following strategic objectives in clinical development:
- Engage effectively with patients and stakeholders through targeted, omni-channel interactions to meet their needs and foster loyal relationships
- Innovate in patient care by catalyzing the development of products and services to deliver value for patients, health care providers, and payers
- Execute efficiently by digitizing and rationalizing processes to drive efficiencies, cycle time reductions, and cost savings