Planning that Thousand Year Future - Pharmaceutical Executive


Planning that Thousand Year Future

Pharmaceutical Executive

Twelve potential paths to reinvention

From this perspective, how might BioPharmaCo re-envision new and emerging opportunities within the healthcare landscape? How can BioPharmaCo—or any evolving biopharma company—add value and earn healthy profits through healthcare services? Consider the following opportunity fronts, which may spotlight new pathways to future growth and profits:
Health outcomes services. How can a company add value through superior health outcomes services? Payers and governments clamor for health outcomes studies that can help them determine which medicines, therapies, diagnostics, and tests to support and reimburse. Are there health outcomes services, systems, and approaches that will become value-adding and fee-bearing in their own right? Health outcomes represent a large frontier of opportunities—all that may lead to greater insight regarding which therapies produce the most desirable and measureable results. Broadly speaking, health outcomes require potentially diverse research, connecting large amounts of often disparate information, and developing insights that will improve healthcare for broad populations, specific groups, or individuals. How might BioPharmaCo play a leadership role on this emerging frontier—beyond just demonstrating the benefits of its products?

Lowering consumer costs. In most of the economy, new technologies help reduce costs for customers. In healthcare, new technologies usually raise costs. What approaches would help a company transform this model by harnessing global demand for reduced costs that are effective? Wal-Mart Stores, Inc. has demonstrated that low-cost strategies that build volume can be a winning formula across global markets. In rapidly emerging markets such as China, governments are requiring reduced prices—compared with the United States—to access the exploding Chinese healthcare market where China will be adding $125 billion in spending on healthcare. How might BioPharmaCo tap new growth opportunities using a different approach or business model? Indeed, one hallmark of larger, resilient companies is their ability to operate different business models simultaneously within the company's overall portfolio. What might this mean for how BioPharmaCo sees future opportunities?

Prevention-based services. What services might help prevent consumer healthcare conditions—and thereby offer significant patient and payer benefits? Like many other areas across healthcare, "prevention-based services" can have multiple dimensions. How might a healthcare provider help prevent side effects, avoid contraindications, prevent disrupted treatments, prevent non-responders from using the wrong medicine, or prevent improper dosing?

Micro-lending in developing markets. Micro-lending has been a source of keen interest ever since Muhammad Yunus won the Nobel Prize for his work combating poverty through the use of small "micro loans" to help the poor. His work began with a $27 loan. It grew to a pilot program in which Yunus lent money to 42 women in Bangladesh so they could purchase bamboo to make and sell stools. In a short time, the women were able to repay the loans while continuing to support themselves and their families. This pilot sewed the seeds of the Grameen Bank, and the concept of microcredit. Extending this finance innovation how might BioPharmaCo use microcredit to expand access to its medicines or improve healthcare opportunities for the world and for BioPharmaCo? Could BioPharmaCo help accelerate healthcare deployment in developing markets through such innovative finance practices applied to medicines?


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