Comments for point one:
-Even within a single TA like diabetes, there is over $100B in value potentially shifting from traditional to emerging business models
Comments for point two:
-Accenture estimates that an average top-25 global pharmaceuticals company can generate up to $170 million in revenue upside and as much as $190 million in savings over five years by digitizing its current models for the customer experience and operations
Beyond the value of digitizing the current promotional model, technology revolutions like digital have demonstrated the ability to disrupt industries across multiple dimensions
Accenture estimates that an average top-25 global pharmaceuticals company can generate up to $170 million in revenue upside and as much as $190 million in savings over five years by digitizing its current models for the customer experience and operations
Provide a substitute for treatment or medication (e.g., apps and wearables are used to delay the need for additional treatment and prescriptions)
Enable the sharing economy (e.g., patients sharing medical resources and costs)
Convert healthy activities into currency (e.g., healthy activities and compliance as a usable currency)
Set the standard for treatment (e.g., treatment algorithms and remote monitoring replace individual HCP decisions)
Create new intermediaries (e.g., replacing traditional HCPs with on-demand/anywhere services)
Provide a substitute for treatment or medication: $34 billion in annual potential savings if diet and exercise can decrease the likelihood of progression to T2D by only 5%
Enable the sharing economy: In the $3,359 billion diabetes medical supplies market, up to $500 million (10%) could be saved if anti-diabetic supplies were fulfilled through sharing among patients
Set the standard for treatment: $1.9 billion could be saved in diabetes-related physician visit with introduction of treatment algorithms and remote monitoring to replace HCP decisions
Create new intermediaries: The average annual medical expenditures for T2D patient is $7,900. Upwards of $700 annually could be saved per patient using digital for diagnosis and treatment – resulting in total savings of $19.2 billion
Digital transformers recognize days of slow and steady evolution are over
Industries that one measured change not experience digital disruptions that shift the landscape over a period of a few years
It is clear that radical changed are already making the industry more dynamic and volatile
The biggest winners will be those companies that look to lead in digital with a focus on value