Although 2018 was another year of balanced growth globally, life sciences companies will be entering the new year facing challenges in the global growth forecast. As we shift our perspective to the challenges and opportunities ahead in 2019, I wanted to provide a guide to some of my favorite posts from Clarkston’s life sciences experts this year.
Making Personalized Medicine a Reality
As personalized medicine increasingly moves from the theoretical to the practical, life sciences companies are now focusing on operationalizing the associated processes to manufacture, distribute, and administer treatments. The vein-to-vein nature of personalized medicine will force supply chain leaders to reconceptualize almost every aspect of the traditional operational model to account for more stringent temperature and stability controls, crunched production and delivery times, impacts to capacity planning, and more. Click through to learn more from Clarkston’s life science expert, Janel Firestein, about the challenges and opportunities ahead for personalized medicine.
Value Based Care in Life Sciences
Only a few years ago, achieving regulatory approval was the most critical milestone in a drug’s journey from discovery to commercialization. Today, regulatory approval is clearly still a crucial step but it’s the negotiation and execution of a successful pricing and reimbursement arrangement for each product that has become the real barometer for success – not only for the specific product but for the business as a whole. To be successful, life sciences companies must evolve to adopt a more patient-centric approach designed around building trust with partners. Value-based care represents a re-aligning of incentives across the system back to the patient. Achieving the promise of value-based care is not just required for success in the coming years for life sciences companies, but it also represents the key to rebuilding trust in an industry where partnership is key and failure is no longer an option. Hear more on this topic in our post, Building A Value-Based Care Model in Life Sciences.
Improving Clinical Supply Operations
In many cases, supply chain excellence represents an even greater strategic significance for R&D organizations, as supply operations efficiency can enable the successful planning and execution of complex clinical trials and the delivery of on-time milestone achievements. Compared to their commercial counterparts more advanced in the maturity curve, clinical supply chains face greater challenges from both demand and supply perspectives. As the R&D landscape shifts, clinical supply chains can serve as a strategic differentiator to ensure organizations are optimizing the development outcomes and truly delivering the best quality and value as possible to the patients, to the company, and to the shareholders. Read our advice to the clinical supply operations organization in 7 Improvements in Clinical Supply Chain Management Your CFO Will Love.
You may also enjoy these popular posts for life sciences companies from 2018:
- Applications of AI in Drug Development
- Breaking Down the Changes to 510(k) Clearance
- FDA Clearance of Apple Watch 4 Shows Key Trend in Medical Device
You can find all of our 2018 posts for life sciences companies here.
What to Expect from Clarkston Consulting in 2019
We want to post even more insights, case studies, and testimonials for our life sciences readers this year. Please contact us if there is a topic you would like to hear more about this year and stay connected by subscribing to our weekly insights below.