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If you’re an insights professional in the pharmaceuticals and healthcare industry, your stakeholders (and your stakeholders’ stakeholders – doctors, nurses, health care assistants, patients –) are very tired. But even after years of unprecedented change, the demand for faster, more efficient output continues to increase.
This means it’s more important for insights functions in the healthcare sector to prioritize the right primary research and communicate the most useful and impactful insights to their business counterparts.
But as an insights professional in the healthcare sector, you’re facing industry-specific hurdles, including:
- Slow and complicated regulatory compliance processes.
- Exponential knowledge and data growth with too many sources to make sense of.
- Siloed knowledge across business units, and experts working in isolation.
- Knowledge management systems that turn your insights pros into librarians instead of analysts and insights-driven advisors.
If you want to effectively manage insights and knowledge in the healthcare industry, you need an end-to-end insights solution that seamlessly can take you from initial market research to final decisions, with 100% regulatory compliance.
Here are 3 strategies pharmaceuticals and healthcare organizations must adopt to address the industry’s unique challenges:
1. Lighten the load for over-burdened stakeholders with relevant insights
The healthcare industry is currently facing supply chain interruptions, qualified workforce turnover, and drastic shifts in customer needs and behaviors from one day to the next. All of this produces a huge amount of data and market knowledge that’s continuously updated and changing.
Make no mistake – your insights management solution must give you the tools to quickly curate the right insights for your stakeholders at the right time, so you don’t overwhelm business users with too much (or irrelevant) information.
An insights solution made for the healthcare industry will have easy sensemaking and curation tools that help you quickly draw from your knowledge asset and curate tailored and relevant insights for your stakeholders.
With AI-powered newsfeeds, curated newsletters, and topic dashboards, a robust insights platform will give you automated tools to decide who sees what, so you can reduce information overwhelm and target different groups in your organization with only the information they need to make quality decisions.
2. Maintain 100% compliance while accelerating your products’ time-to-market.
The COVID-19 pandemic jolted the pharmaceutical and healthcare industries into rapidly accelerating telehealth and new clinical trial processes. For example, the typical timeline for the drug development life cycle is at least 10-12 years from research and development to launch, but in the past two years we’ve watched the time-to-market for some drugs reduce remarkably to a matter of months.
This astounding rate of change means your organization is increasingly working on shortened timelines for innovative, safe products, and that means you need to produce insights at matched speed, despite multiple levels of approval for primary research.
Now, imagine expertly navigating pharmacovigilance regulations with automated workflows that drastically reduce research approval times. If you’re an insights professional in the healthcare or pharmaceuticals sector, your insights management solution should include regulatory intelligence and pharmaceutical compliance solutions.
The good news is the right knowledge management system will optimize your research operations with fully digitized and auditable workflows, approvals, and agency rosters. You’ll automatically generate reports for regulatory submissions, and your pharmaceutical firm will see huge cost- and time-savings on research projects while staying 100% compliant.
3. Dissolve healthcare data silos and drastically reduce research duplication.
Healthcare data silos can bottleneck your insights development and increase costs due to redundant research efforts. Your knowledge management solution should support healthcare data integration and foster communicating research teams, so your organization can develop insights faster and support innovative solutions to meet your customers’ needs.
Here’s how it works in healthcare and pharmaceutical organizations: First, your insights platform should be capable of integrating all your syndicated sources, internal research, and industry news, so there’s one entry point for all stakeholders across a decentralized organization. Then, your insights professionals and business users should easily be able to search your knowledge asset, supported by state-of-art AI technology. One click should quickly navigate results and produce automatically summarized content, smart result widgets, and expert-curated topic zones related to the search.
But that’s not all – a unified search should make desk research a breeze, so you can automatically insert existing knowledge into research briefs and avoid recommissioning research your organization already has.
It’s all about empowering your business and insights users to “know what they know,” so you can collaborate more effectively and skip the duplication that happens when your knowledge exists in silos.
100% compliance and 0% risk
Effective knowledge and insights management is critical for the pharma and healthcare industry to solve today’s health problems and quickly get life-saving products to market. An insights engagement solution not only stores and manages knowledge, it also automates research workflows and engages the business with relevant, curated, and actionable insights to move the business forward.
Want to learn more? Check out how Market Logic supports the pharmaceutical industry with an insights platform with 100% compliance and 0% risk.