According to research, the conventional model for healthcare (hospital, pharmaceutical and medical procedures) only influence health outcome by 10 to 20 percent. The rest of the health outcome is influenced by several different factors like behavioural attitudes and social and environmental factors. Health does not only constitute physical aspects of the human body but also the overall well-being, whether physiological or social. Biopharma companies like Yourway focus on a broader definition of health outcomes focused on overall well-being.
Shifting Attitude Towards Healthcare
There is no doubt that outcomes of medical intervention are important but so is the journey of a patient going through treatment and the support required by that patient. The medical outcomes of an intervention are critical and they act as a centre around which biopharma builds a more holistic approach toward patient care. Let’s consider an example, the goals of managing diabetes have moved from lowering hbA1c to preventing diabetes by tackling the risk factors in the pre-diabetic stage. Similarly, the remission of type 2 diabetes is possible now due to behavioural and environmental changes. A survey showed that 72 per cent of US citizens want the healthcare system to focus more on prevention than on treatment.
Another important attitude shift has led to the formation of digital health, telehealth and telemedicine innovations where patients can easily stay connected with their doctors. But, research showed that only a handful of people are using these facilities.
How does Biopharma Add Value?
Yes, the landscape of medical and pharmaceutical approaches toward treating health and diseases is going through a change, but a very important question arises here. What role can biopharma play in adding value to the scenario? How can biopharma create opportunities where the focus is the entire journey and not just when people are sick?
Biopharma has strength because of deep relations across the healthcare system, incredible science and means to shape supply networks and treatment pathways. Look at the achievement of biopharma in cell and gene therapy, it single-handedly moved biopharma from being the provider of medications to the provider of better health experiences for the patients. The strongest impetus needed by biopharma to start cashing their strength is “a change of mindset” across the industry. It is a big shift but if the industry aims for it, they can achieve systems where health outcomes can span the ages.
Biopharma is Already More Than Medicine:
Many biopharma companies are already expanding their definitions by adding non-pharmacological interventions along with traditional treatments. Biopharma is investing in three innovative niches:
- Clinical decision support
- Population health management
- Adding services and solutions for arising diseases and conditions.
Different companies are focusing on different niches and helping them grow.
What’s Next For Biopharma?
- Adding behavioural interventions in pharmaceutical and pharmacological treatment.
- Making the health outcomes and customer experience a priority instead of medication benefits.
- Serving not only the people suffering from a disease but also the ones who want to achieve various health goals
- Adding data analytics, artificial intelligence, innovation DNA, disease area knowledge, and ecosystem connectivity in their enablers.