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Data That Heals: A Three Horizon Analysis

Roxon, Lindsay (2018) Data That Heals: A Three Horizon Analysis. [MRP]

Item Type: MRP
Creators: Roxon, Lindsay
Abstract:

In recent decades we have seen a major disruption to all major industries as a result of changing consumer demands, consumer empowerment, big data, and shifting demographics. Evidence of this can be seen in the disruption of major industries such as the automotive industry, retail, banking and manufacturing. Data is enabling a shift in power from large companies to smaller, emerging players.

Big Pharma has long enjoyed a privileged position, having grown with the healthcare system since its inception in the United States. We are at a moment in time where there is emerging capability to bring about radical change in the way that healthcare is delivered as a result of new technologies and the advancement of science. Digital Therapeutics and alternatives to pharmacological response to disease are becoming not only viable, but necessary, to contain costs and improve health outcomes. These changes are creating a risk of disruption for Big Pharma, if there is not a radical reassessment of organizational strategies and investment.

Using the Three Horizon’s Foresight Methodology, this paper explores the needs, barriers and opportunities for each major stakeholder – pharma, emerging technology players, payers, patients and providers – given an overview to the present situation, the ideal future and presenting strategies to bridge these two horizons. The result is an understanding of the potential areas of disruption to health therapeutics industry and an understanding of how the pharmaceutical industry may adapt to build resiliency by transitioning and rethinking its core product, facilitating and partnering with emerging players, and moving towards a strategy of improving health outcomes (real value creation) rather than revenue increases and identifying new revenue opportunities in the process.

Date: April 2018
Divisions: Graduate Studies > Strategic Foresight and Innovation
Date Deposited: 15 May 2018 13:27
Last Modified: 15 May 2018 13:27
URI: http://openresearch.ocadu.ca/id/eprint/2260

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