New research from Accenture reveals gap in Pharma R&D’s journey to delivering better patient outcomes
Adoption of digital transformation to drive patient outcomes may improve competitive position for pharma R&D organizations.
Despite R&D-focused pharmaceutical executives recognizing digital as the primary driver to be more patient-outcome focused, only half of them are currently adopting digital, according to a new report from Accenture.
The report - Industry at a Crossroads: The Rise of Digital in the Outcome-Driven R&D Organization - is based on a survey of nearly 80 R&D executives at leading pharmaceutical companies in the US and Europe.
When asked to identify the areas in which digital technologies will have the greatest impact on the industry, executives cited “transforming their R&D model to become more patient-focused” more often than any other area (29%), ahead of “improving R&D productivity through digitized processes” (22%); “enhancing quality and compliance to meet changing regulatory requirements” (18%); and “cost reduction in R&D to improve productivity” (12%), among other areas.
However, 42% of respondents said they are still “exploring” how digital might improve their organizations, with another 3% saying they are still “waiting and seeing” how digital is deployed before developing their own digital capabilities.
“R&D pharma executives clearly believe that digital can help them accomplish their goal of improving patient outcomes,” said Kevin Julian, managing director of Accelerated R&D Services, Accenture Life Sciences. “Companies that are slow to embrace digital may run the risk of conceding competitive position, profit margin and even customer loyalty.”
While all but one (99%) of the executives surveyed said that increasing focus on patient outcomes is a “critical” or “very important” priority, four in 10 respondents (39%) said that focusing more on patient outcomes was already a key priority of their R&D organizations, and half (49%) said that it should be the top priority by 2020.
The research also revealed those pharmaceutical companies that have already adopted digital report significantly stronger R&D capabilities in key areas. They are far more advanced in core process redesign of Target Product Profile (TPP) and Clinical Development Plan (CDP), collaborating with other commercial organizations, harnessing real-world data analytics, and using digital to make more effective use of Medical Science Liaisons (MSLs).
“R&D plays a critical role in deciding which products or services get developed, and how quickly,” Julian said. “Digital can help R&D organizations make the right decisions more quickly by improving data integration and analysis, as well as through better collaboration with and engagement of patients, providers, regulators and other stakeholders.”
In the report, Accenture suggests that, to capture the benefits of digital technologies, R&D pharmaceutical leaders should consider the following steps:
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