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A Modern Beauty and the Beast of Pharma
Clinical trial cost reduction is often at an antithesis to the patient engagement efforts that the pharma industry is seeking to embrace. We are encouraged nonetheless by a paradigm shift in corporate analytics and smarter data management systems being integrated into executive decision making at all levels of the pharma value chain.
Ever since the Internet came to the fore, Moore’s Law has not left healthcare isolated – the richness and speed at which medical information is at our disposal, has been driven exponentially by innovation in areas of smart-system genomics, computer-aided drug design, electronic medical records, FT-medical imaging and adverse event reporting to name just a few.
The pharma industry may have reached that pinnacle where it can derive cost reduction benefits from pushing Moore’s law in fast acquisition, analysis, implementation and visualization of diverse and terabytic data sets uploaded to cloud-based platforms that can empower the best outcomes for the patient. As long as Moore’s Law holds we can always anticipate the patient’s needs to be met cost effectively yet hopefully with the engagement aspect not eroded.