{"id":5902,"date":"2023-07-20T12:19:25","date_gmt":"2023-07-20T12:19:25","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/how-to-seize-the-moment\/"},"modified":"2023-07-20T12:19:26","modified_gmt":"2023-07-20T12:19:26","slug":"how-to-seize-the-moment","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=5902","title":{"rendered":"How To Seize The Moment"},"content":{"rendered":"
\n

Scott Wassmer, Global President \u2013 <\/em>Appnovation<\/em>.<\/em><\/p>\n

Imagine you could receive treatment for a medical condition before ever experiencing symptoms.<\/p>\n

Imagine if wearable technology could detect changes in your body\u2019s systems\u2014heart rate variability, blood pressure, sleep quality, oxygen levels\u2014and alert you if something was out of the ordinary. Or better yet\u2014imagine your doctor had access to this real-time health data and could proactively order tests when something seemed amiss, without requiring you to even step foot in the office.<\/p>\n

Now that we\u2019re on a roll, let\u2019s take it one step further. Imagine patients had reputable medical resources to turn to when researching a condition or medication\u2014a trustworthy alternative to \u201cDr. Google.\u201d And that trustworthy partner could also support them post-diagnosis by proactively identifying factors that make it difficult for them to take their medication and providing the necessary support to enhance their healthcare journey.<\/p>\n

This type of future is possible\u2014in fact, in many ways, it\u2019s already here. Just like the technology to build self-driving cars reached maturity long before Tesla came onto the scene, the building blocks for this type of proactive and interconnected healthcare system exist thanks, in large part, to Apple.<\/p>\n

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A New Vision Of Healthcare<\/h2>\n

Over the last nine years, the technology giant has been laser-focused on leveraging its software and hardware to equip people with the information they need to make intelligent personal health decisions\u2014and allow the medical community to improve health research and care. Innovations like the Apple Watch, Health App and App Store have allowed the company to build an ecosystem that makes it possible to collect patient data in real time.<\/p>\n

This has created a path for pharmaceutical companies to get closer to their customers\u2014and become more integrated into their overall healthcare journey. Not only do companies now have the potential to create third-party apps that increase health awareness and education, improve medication adherence, allow for early detection and support mental health, but it also gives them the data they need to run better clinical trials, manufacture much-needed products and drive medical innovation.<\/p>\n

If companies seize this moment, the pharmaceutical industry of the future could end up looking very different than the one we see today. Most notably, I think we\u2019ll observe three major shifts:<\/p>\n

1. Values-Focused Transformations<\/strong><\/p>\n

For this type of future to materialize, patients will need to feel comfortable sharing their personal health information. At a time when cyber breaches are at an all-time high\u2014and trust in businesses and institutions is dismally low\u2014earning their favor won\u2019t be easy.<\/p>\n

Fortunately, thanks to Covid-19 vaccine production, I believe pharmaceutical companies are well-positioned to meet this challenge. Public trust in the industry is on the rise\u2014increasing from 25% in 2018 to 31% in 2021. To build on this momentum, companies will need to become progressively more transparent and demonstrate that they\u2019re in business for the greater good. One way to do this is to seize opportunities to give back to society through things like research and development, medicine and vaccine manufacturing.<\/p>\n

As the industry establishes a strong reputation for genuinely advancing patient well-being, people may become more open to surrendering their personal data for healthcare and research purposes.<\/p>\n

2. Digital And Information-Focused Product Offerings <\/strong><\/p>\n

As pharmaceutical companies analyze the patient lifecycle through a holistic lens, they\u2019ll inevitably identify untapped opportunities to add patient value through digital means. I predict that this will lead to new partnerships with wearable technology manufacturers and the development of companion apps to work with those specific wearable brands.<\/p>\n

Venturing down this road will involve a massive overhaul of existing business models and the adoption of systems-focused and collaborative mindsets. In order to truly understand the full patient lifecycle, pharmaceutical companies need to partner with healthcare and health insurance providers and technology companies to truly understand the full patient lifecycle. True treatment of a patient is a combination of their physical environment, their physical well-being and their mental well-being, as well as the factors that influence those areas of the recovery process <\/strong>After all, to create a truly connected healthcare ecosystem, digital products must be designed to fit into an integrated omnichannel system so they can be scaled across hospitals, healthcare systems and countries.<\/p>\n

3. A Revolutionary Patient Experience<\/strong><\/p>\n

In the future, I believe the fragmented and frustrating patient experience will cease to exist. Patients will have access to a seamless, interconnected healthcare ecosystem, tied together with medical apps and digital solutions that offer relevant and meaningful health data, a streamlined user experience across devices and next-level personalized insights, adaptive features and recommendations.<\/p>\n

This type of patient experience will make it easy for individuals to acquire the care they need when they need it and alleviate pressure off the healthcare system.<\/p>\n

Ripe For The Taking<\/h2>\n

This future may seem like a work of science fiction but, in truth, it\u2019s not far off. In my experience, I’ve noticed that pharmaceutical companies have spent the last few years investing heavily in their tech stacks and data collection and analysis capabilities and many have already forged partnerships with promising new tech startups.<\/p>\n

As wearable technology improves\u2014and the personal data collected becomes more reliable\u2014it won\u2019t be a matter of \u201cif\u201d this type of future is possible, but how quickly the associated healthcare players can work together to make it a reality.<\/p>\n

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Scott Wassmer, Global President \u2013 Appnovation. Imagine you could receive treatment for a medical condition before ever experiencing symptoms. Imagine if wearable technology could detect changes in your body\u2019s systems\u2014heart rate variability, blood pressure, sleep quality, oxygen levels\u2014and alert you if something was out of the ordinary. Or better yet\u2014imagine your doctor had access to […]<\/p>\n","protected":false},"author":1,"featured_media":5903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-5902","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nHow To Seize The Moment | Brandiary<\/title>\n<meta name=\"description\" content=\"Scott Wassmer, Global President \u2013 Appnovation. 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