Digital Health Solutions
Top 10 biotech company wanted to develop a comprehensive digital health strategy, backed by a return on investment analysis.
While there has been significant investment in digital health to date, most of the programs have ended in failed pilots. Was there a series of solutions that the Company could get behind to improve their position in the market? How should they define success (e.g., dollars, new Rxs, customer satisfaction, other)? What were the legal concerns of providing such solutions? What were the consequences of not investing in this market? What kind of resources are required to be successful?
Approximately 100 external primary interviews across other biotech/pharmaceutical firms, solution vendors, providers, payors, and patients. 25 internal interviews. Cross-company coordination of resources through a steering committee approach. Bottoms up financial modeling, market analysis, forecasting, segmentation, and regular executive briefings.
Created end-to-end workflow diagrams showing the care pathways and financial flows for each therapeutic area. Identified the unmet needs within each TA. Developed a solutions database. Created criteria to cull down the list and identified ten third-party solutions that created a positive ROI. Designed an organization which was capable of executing on the plan over 24 months. Created a “marketecture” for each solution. Gained Board approval and funding to execute on the program.