Whether you work in a hospital, long-term care facility, clinical lab, or a HealthTech company, all workers in the healthcare sector today are focused on value-based care and cost efficiencies. For organizations intent on streamlining processes, an analytics tool is the logical next step. Undoubtedly, embedded analytics solutions deliver the best outcomes.
The end goal of clinical technology organizations in the US and abroad is to use modern technology to bring life-saving new treatments to fruition. Leaders in this sphere help generate the evidence and insights to help biotech, pharmaceutical, medical device, and diagnostic companies accelerate value, minimize risk, and optimize outcomes. Life sciences clients recognize that technology is the answer to inefficiencies and delays in delivering new treatments to the public.
Image credits: Julia Sowells With the onset of the COVID pandemic in 2020, the use of telemedicine and telehealth services has soared. An article by McKinsey estimated that in 2021, the use of telehealth was 38 times higher than pre-COVID years.
The pandemic changed our healthcare behaviors. Planned hospital and doctor visits were reduced while telemedicine, for physical and mental health, increased. As healthcare providers and insurers/payers worked through mass amounts of new data, our health insurance practice was there to help.
Vaccine development became the top priority for the life sciences industry – delivering new vaccines at unprecedented speed and maneuvering large-scale production processes. Numerous factors helped accelerate the vaccine roll-out including prior research, genome sequencing, jumping the FDA approval queue and a plethora of testing volunteers. So now that we’ve experienced these advancements, how can the industry keep momentum to speed-up innovative solutions across healthcare?
A global leader in pharmaceuticals found themselves faced with a unique spin on a common challenge: Their biopharmaceutical division — responsible for producing vaccines and generating over $1 billion in annual sales — was struggling to turn raw data into trusted insights. Data underlies everything the global pharmaceutical company does, however, without data they can trust, they would be at risk of taking longer to get vaccines to market and incurring higher expenses along the way.
A new study from McKinsey warns that profit pools in the healthcare industry are likely to be flat due to the ongoing effects of the COVID-19 pandemic. To combat this stagnancy, the study identifies a number of opportunities for innovation in the industry.
