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This Week in Consulting

Friday, June 22nd, 2018

Time for Pharma to Dive into Digital

THIS WEEK’S MUST READ

“For pharma, there comes the question of whether they can tie digital to the assets they have. There is an interesting broader conversation to have with pharmacos about moving from a products-and-pills company to a solutions company.”

Pharmaceutical companies are running hard to keep pace with changes brought about by digital technology. Mobile communications, the cloud, advanced analytics, and the Internet of Things are among the innovations that are starting to transform the healthcare industry in the ways they have already transformed the media, retail, and banking industries. The critical question now for pharmaceutical companies is how to stay ahead of these changes.

This Week’s Must Read is an article from McKinsey, featuring insights derived from interviews with 20 thought leaders across a variety of segments, including analytics, biotech, data, pharma, providers, technology, and venture capital. The consultants point out that pharma companies must fundamentally shift their mind-sets, cultures, and capabilities in order to transform themselves into the agile, experimentally minded solutions providers they need to be.

Read on to Find out More: “How Pharma Can Win in a Digital World”, featuring David Champagne, Amy Hung, and Olivier Leclerc from McKinsey.


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THIS WEEK’S VIDEO:

Using a mobile app to check glucose levels, sending selfies to facilitate diagnoses, and receiving text reminders to take pills. Is this the future of health care? Karalee Close believes it should be, considering that medical mistakes are the fourth leading cause of death in the U.S. She argues that a closer marriage of technology, big data, and health care can improve today’s system.

INDUSTRY NEWS & INSIGHTS

  • Capgemini Buys Design Agency Adaptive Lab: Global consulting firm Capgemini has continued its recent succession of acquisitions with the purchase of Adaptive Lab. The London based digital design studio joins Idean, the design wing of Capgemini which it acquired in spring 2017. | Capgemini Press Release
  • Incremental acquires Gap Consulting: Incremental Group has acquired Cheshire-based Gap Consulting, a Microsoft Gold Customer Relationship Management (CRM) Partner, in a deal that strengthens Incremental’s overall offering and UK coverage. | Incremental Group Press Release
  • Threat of Trade War Hits Global Procurement Industry: With a growing level of concern expressed by experts at a potential global trade war, a new research paper has warned that the procurement industry is facing a coming storm in coming years. The pricing of key commodities has spiked dramatically since the announcement of harsh import tariffs by the US, and with a retaliation due, the profitability of the world’s supply chains could be hit by rapidly rising costs. | Consultancy uk

THOUGHT LEADERSHIP

  • Time for Pharma to Dive into Digital: Pharmaceutical companies have been increasing their engagement with the digital world slowly and cautiously. But the industry has now reached a tipping point: it has to put an end to hiding behind the challenges of engaging with its stakeholders digitally and stop treating digital as an add-on to existing operations.  | Jonathan Anscombe, Michael Thomas, Chris Paddison, Keith Lostaglio, Jonathan Plimley, AT. Kearney
  • Pharma and the Connected Patient: How Digital Technology is Enabling Patient Centricity: There is a growing realization that a new business model is needed that involves patients more effectively. By engaging directly with patients and partnering with them across the entire pharma value chain, pharma companies can re-invent their business and operating models. | Karen Taylor, Dr. Mark Steedman, Amen Sanghera, Deloitte Center for Health Solutions
  • 2017 Global Digital IQ® Survey Healthcare, Pharmaceutical & Life Sciences: The survey contains unique insights into how healthcare and pharmaceutical and life sciences (PLS) businesses are capitalizing on technology and what they think about technology’s role in their strategic approach to digital transformation.  | Dan Garrett, Patrick Figgis, Michael Swanick, PwC Consulting
  • Are You Ready for Digital Health?: Aligning with digital health trends can help pharma create a competitive advantage, maximize efficiencies, and minimize costs. The result of employing a solid digital health strategy will be a revamped business model and improved patient experience.  | Allyson Hein, Clarkston Consulting

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CONSULTANT CORNER

  • How To Set Your Fees And Working Contracts: Do you know what your work is worth? If you’re a freelancer or consultant then understanding what to charge is part of the job. Yes, there’s lots to do but taking a bite size approach to it all, is key. | Ebony Gayle, Minute Hack
  • What You Need to Know to Maximize Your Chance as a Preferred Consultant: At the end of the day, only the most preferred consultant gets assigned the project, regardless of who the other providers are. The key to becoming the preferred consultant is to consistently make offers that deliver something of higher value to your clients. | Helene Laffitte

CONSULTING CAREER

CONSULTING JOBS

  • Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City.  Learn More  
 

About Consulting Quest

Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.

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