Across the life sciences industry, there is a call to break down the silos associated with frequent acquisitions and divestments. Companies are growing faster than they can consolidate their technologies and information, requiring more cohesive digital strategies. With the rise of digital and the number of customer accounts that need to be managed, data change management procedures are necessary to ensure stronger, more organized digital collaboration.
Life Sciences & Contracts Management: Visibility, Time Savings, & Driving Revenue
Value-based contracts (VBCs) are increasing in popularity throughout field, market access, and contracts teams across the life sciences industry. It’s important that relevant data is used to create these types of contracts so that the output is most advantageous to the customer, as well as the patient. Not only is visibility into contract management beneficial to the customer but it also has dual benefits for both commercial and contracts and pricing teams in medical device and pharmaceutical companies.
Digitizing your Strategic Account Plans and Abandoning the Slide Deck
In the face of the technology revolution, many organizations typically have a tough time adjusting to new ways of thinking. Instead of embracing innovation, it sometimes is easier to rely on old traditional platforms and systems that tend to hinder their ability to be more efficient and organized. Especially in the life sciences industry, there are several functions that could immensely benefit from doing away with legacy systems and antiquated workflow management.
Keep Clinical Asset Management Tools in Your Back Pocket, Literally
Although technology is disrupting the life sciences industry, it presents many opportunities to pharmaceutical and medical device companies who are willing to step outside of their comfort zones. Especially with the increase in remote work and collaboration, a life science organization that can embody a strong digital strategy, can boost efficiencies and performance across all functional areas, especially for commercial and medical affairs teams.
Performance Management and your Commercial Team, the Barriers and Benefits for the Life Sciences Industry
Performance management can be a tough skill for life sciences organizations to master, however, when the process is crafted strategically and carefully, it easily becomes a competitive advantage.
Achieving Value through Performance Reporting within Medical Affairs
Now, more than ever, critical and timely business intelligence is central to the role of medical science liaison managers analyzing what is happening in the field.
According to McKinsey, Medical Affairs teams are growing to become the third strategic pillar in life sciences organizations. Having enhanced data capabilities and expertise in collaborating with key stakeholders makes Medical Affairs well-equipped to provide the strategic support needed to seek RWE and optimize product life cycles and, ultimately, patient outcomes.
The Importance of Leadership Intelligence within Medical Device and Pharmaceutical Sales Teams
The Need for Sales Leadership Intelligence
There is an increased need for sales leadership intelligence within life science organizations. High quality intelligence not only helps senior leaders support and coach their commercial team but also personally helps them become better decision makers, stay agile, and positively impact the bottom line.
5 Steps on How to Select Your Business Key Performance Indicators
Key performance indicators (KPIs) are essential for monitoring the success of your business and deciding whether or not to reevaluate your current strategy. When it comes to the life sciences industry, carefully selecting KPIs for your commercial and medical teams will benefit your organization in the long-run.