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Once a vision for the future, virtual health is a reality of the present

by Steve Burrill, Vice Chairman, US Health Care Providers Leader, Deloitte LLP

Virtual health stretches beyond the use of digital tools, or mobile devices that connect patients to physicians. It combines digital and telecommunication technologies to create a continuous connection between patients, physicians, and other caregivers. By combining technologies, health care stakeholders are able to more effectively coordinate patient care.

The idea of virtual health goes back decades.

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Hospitals look to strengthen the supply chain by producing some generics

by Swati Patel, PharmD, Specialist Leader, Deloitte Consulting LLP

In the late 1920s, Henry Ford owned rubber plants, coal mines, and iron-ore mines to guard against shortages from suppliers. He wanted to ensure that his manufacturing plants always had the raw materials needed to build cars.1

Similarly, some hospitals are looking into producing certain generic drugs to protect against shortages from suppliers that lead to postponed or canceled surgeries.

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Now you’re speaking my language: Value-based contracting should push health care stakeholders to understand each other’s business models and value drivers

by Joseph M. Coppola, Managing Director, Life Sciences Commercial and Market Access Practice Leader, Deloitte Consulting LLP

We all want to offer better value to our customers. Pharmaceutical companies, health plans, hospitals and health systems, and physicians want to provide better health outcomes for lower costs to patients…and to each other. But to each stakeholder, the definition of value can be quite different. Before pharmaceutical manufacturers consider a value-based contract, they could benefit from becoming fluent in the language of each stakeholder and understand how each potential partner defines value.

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Four market realities new pharmaceutical commercial models should consider addressing

by Jeff Ford, Principal, Deloitte Consulting LLP, Principal, Deloitte Consulting LLP

The US pharmaceutical industry’s commercial market has historically been the Wild West. Under a fee-for-service environment, physicians and their patients made many of the care decisions with few restrictions. However, the changing health care landscape, including the move to a value-based health care system, has changed the ability of manufacturers to drive growth through the lever of price.   

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Expanding Medical Affairs could help restore trust, demonstrate value of biopharma organizations and products

by Tom Yang, Principal, Monitor Deloitte, Deloitte Consulting, LLP

Within biopharmaceutical companies, Medical Affairs has often been seen as a necessity, but not necessarily core. This unit is typically neither responsible for the development nor commercialization of new drugs.

We see untapped value in Medical Affairs for biopharma, but few companies have been able to capture it. Here are three areas where Medical Affairs could enhance value for biopharma companies:

  • Restoring trust: In an environment that has commonly grown skeptical of large biopharma companies,
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When the music changes, so does the dance: Time for biopharma to get in step with value-based contracting

by Joseph M. Coppola, Managing Director, Life Sciences Commercial and Market Access Practice Leader, Deloitte Consulting LLP

There is a well-known African proverb, “When the music changes, so does the dance.” I was thinking about this recently when I was a panelist on SAP’s Changing the Game in Life Sciences radio program, “Outcome-Based Pricing: Cure for An Ailing Healthcare Industry.” The moderator asked me for a quote that I felt best represented what was happening in the industry related to emerging pricing and payment models.

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