So how exactly does FLEX build relationships healthcare?
At FLEX, we provide services that support an item at any time in the lifecycle, from engineering and prototyping to automating manufacturing. We support 12 different industries including healthcare, giving us a distinctive standpoint, and find out all of them evolving their companies for that connected world we reside in.
Within healthcare, we’re centered on helping companies connect medical devices and switch the information that’s taken from individuals devices into actionable insights that may have a measurable impact.
What are the issues with the present digital health landscape?
Whenever you consider the marketplace today, the thing is lots of siloed solutions that operate by themselves, which don’t integrate seamlessly with the way we live. For instance, as my plane was arriving for any landing today, my wearable fitness tracker explained the time had come to obtain up and walk around. It simply didn’t have context for, or thought on, things i was doing at this exact instant.
Til you have that contextualization, it’s difficult to deliver insights when needed as well as in the right way, when an individual can do something. So when digital health solutions fail within the real life you lose engagement, and also over time, people start ignoring them.
Among the other challenges using the current digital healthcare landscape may be the disparity between product lifecycles around the pharma side as well as on we’ve got the technology side. Pharma sits dormant to, or confident with, the idea of the absolute minimum viable product (MVP). When you are accustomed to spending 10-fifteen years and vast amounts of dollars developing something, launching an MVP digital health option would be challenging and may take many years of business alignment. You will find regulatory management mixers will alleviate these challenges and streamline pharma’s capability to digitize their solutions. We consider digital for pharma companies to continuously enhance their drugs, devices or combination products, across multiple brands, beyond their initial go-to-market launch.
Regardless of the promise that digital health holds for pharma and medtech companies, there’s two primary stalling factors – regulatory hurdles and also the perceived Roi (Return on investment). As the regulatory atmosphere could be a challenge, pharma and medtech companies need to embrace it, and never use that being an excuse not to innovate.
Associated with that, another factor to consider pharma and medtech information mill slow to consider digital technologies is really a rather narrow look at the Return on investment. Many pharma companies take a look at a good investment in digital like a budgeting tradeoff between another TV advertisement or having the ability to hire additional sales representatives. We’re dealing with pharma companies today to assist them to consider the possibility returns that digital health solutions enable soon, for example improved adherence and market-share, along with the returns lower the street, for example being ready to be employed in a connected world with entirely start up business models. And also the Return on investment might not be what pharma information mill searching for away from the gate. From the pharmaceutical industry myself, I realize that this can be a hard concept to swallow. With digital, the very first form of an answer is frequently the worst version. However, you keep iterating and updating. Success for any new digital health application could be just working from your operational perspective for consumers. The 2nd form of success might be improving adherence slightly. It might take before the third or 4th iteration until pharma companies see significant Return on investment from your adherence perspective, and pharma must be confident with that.
I frequently liken the medical industry towards the automotive industry. When the auto industry required a narrow-Return on investment view with immediate returns, would any manufacturers work on autonomous vehicles? It required disruptors like Google to catalyze them into purchasing digital technologies. Similarly, if pharma and medtech companies don’t embrace digital now, they’re opening the up for disruptors.
In the finish during the day, we feel that digital innovation is much more disruptive, less dangerous, and it has a greater probability of success compared to traditional drug innovation model.
How’s FLEX creating breaking lower the silos which exist in healthcare today?
We’re building among the first controlled, therapeutic digital health platforms, that will possess the design controls and quality systems to optimize class I, II and III medical devices, in addition to combination products (e.g. combo drug and drug-delivery device as an auto-injector). Deployed like a managed service, our platform, BrightInsight by FLEX, comes with an open, secure architecture that will data to become taken, integrated and examined from multiple apps, devices or drugs, ultimately delivering insights to pharmaceutical or medical device firms that they’ve didn’t have before. All the data is going to be associated with one system, allowing companies to include multiple solutions to the platform for any truly holistic view across their patient populations.
We’re also dealing with the biggest and many advanced technology players to allow digital health encounters to satisfy most effective and quickest where they’re. Having a patient’s permission, and also the artificial intelligence expertise in our technology partners, we are able to contextualize data to provide insights to patients in the best place, in the proper time and correctly.
Imagine medication reminders being delivered out of your Google Home or Amazon . com Alexa, instead of another siloed application.
How can we get physician buy-in?
The very first factor to tackle is making certain that the solutions fit inside the clinical workflow. After I is at school of medicine, we’d an EMR, but each time I needed to determine an x-ray, I needed to minimize it and launch another application. Basically desired to visit a CT or MRI, I needed to walk 10 mins to radiology. Now, all that may be surfaced within the EMR.
Exactly the same factor needs to take place in digital health. As lengthy as you’ve insights from a device, regardless of how great the insight, we’re not getting prevalent adoption by physicians until we integrate the information to their clinical workflow. Later on, your clinician will be able to see each one of these disparate information within the EMR, including data out of your devices and apps.
How can these power tools help/challenge pharma?
The pharmaceutical industry provides extensive challenges using their products after they encourage them to market. For instance, they can’t see what goes on to that particular drug following the prescription continues to be filled. It normally won’t know the number of prescriptions were written, when the patient takes the drug, or maybe they’re taking it properly. When a clinician or pharmaceutical company discovers someone is from a medication through claims data, it’s usually three several weeks later. It’s highly unlikely at that time that the pharmaceutical company can engage the customer again and capture more prescription refills.
This can be a problem since the medical industry is presently spending $250 billion annually because of poor compliance. The is understanding that when they make their delivery devices smart, they are able to track utilization in tangible-time.
Verifying compliance would be also an enormous asset for numerous studies. They might accelerate their trials, collect better data and, since compliance could be greater, recruit less people. What is more frustrating than visiting a drug fail and never really knowing what number of patients really required it?
The more pharma just dabbles within this, the higher the chance they’ll be disrupted by an outdoors company. But it’s a hard transition. The can be used to 10 or 15-year product existence cycles in an exceedingly controlled atmosphere, and today they need to shift to some digital atmosphere. It isn’t their culture. They’re unfamiliar with working out software or collecting patient data and considering whether it’s secure. They are things we are attempting to address.
What’s FLEX’s vision for digital health?
You want to enable visionary pharmaceutical and medtech companies to visit from by taking your ten to fifteen-year conservative method of realizing there’s lots of public health, in addition to shareholder wealth, to become produced by embracing digital solutions.
How can you connect data in a manner that meets all of the needs from regulatory, security and privacy perspectives? At FLEX, we’re enabling that functionality inside a plug-and-play way. We are able to reduce how big the mountain that pharma and medtech have to climb to apply these digital solutions.
Kal Patel, MD, SVP of Digital Health at FLEX, has held a number of leadership roles across biopharma, healthcare delivery and digital health. Kal offered as Chief Commercial Officer at Physician when needed where he was accountable for all business and commercial functions. Just before Physician when needed, Kal founded and brought Amgen Digital Health insurance and was formerly Mind of Corporate Strategy in addition to Global Marketing Lead for Amgen’s leading drug, EnbrelTM. Kal has additionally held leadership positions at Novartis and also the Boston Talking to Group. Kal includes a Bachelor’s degree in Financial aspects, an Master of business administration as well as an MD in the College of Chicago.