Digital transformation in life sciences

How pharma and medtech can shift from doing digital to being digital

Digital transformation is no longer a buzzword—it’s a strategic imperative. Life Science companies should tackle enterprise-wide digital transformation head-on with a holistic, business-driven approach.

Tech Trends 2021: A life sciences perspective

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Digital transformation: A new competitive imperative

A convergence of events— COVID-19, the acceleration of digital health, economic uncertainty, ecosystem collaboration, and new competition—has impacted life sciences by both accelerating and advancing digital initiatives already underway, and it has jump-started future initiatives. Companies that understand the impact of these events also understand that to thrive, they should change the way they approach digital transformation.

In an increasingly digital, patient-experience and insight-driven health care world, a scatter-shot approach to digital transformation simply won’t work any longer. Companies should move from merely doing digital to being digital. Starting now, executive leadership should tackle enterprise-wide digital transformation head-on with a holistic, business-driven approach.

Why? Because connected and enterprise digital transformations are not a technology fad; rather they are a competitive imperative to help amplify science, insights, productivity, and collaboration to succeed in a digital health ecosystem.

Moving forward in a digital world

To rethink their future, it will be critical for life sciences organizations to stop adopting digital in pockets and instead initiate broader, enterprisewide digital transformation programs that will help position them to be competitive in a digital health care world.

Companies that fail to successfully navigate enterprise digital transformations risk becoming minimized or boxed in the future digital health care ecosystem. Enterprise digital transformations deliver more significant business advantages by applying innovation and digital technology to existing and new business models in strategic, creative, and agile ways for patient, partner, and employee impact, which allows companies to accelerate their core mission to deliver improved health, wellness, and experiences for their patients; drive business impact; and inspire company employees and stakeholders.

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