Updated on 26 May 2016
A new report from IT services company Accenture reveals that despite R&D-focused pharmaceutical executives recognizing digital as the primary driver to be more patient-outcome focused, only half of them are currently adopting digital technology.
The report ─ Industry at a Crossroads: The Rise of Digital in the Outcome-Driven R&D Organization ─ is based on a survey of nearly 80 R&D executives at leading pharmaceutical companies in the United States and Europe.
The media release explained in detail says, when asked to identify the areas in which digital technologies will have the greatest impact on the industry, executives cited "transforming their R&D model to become more patient-focused" more often than any other area (29 percent), ahead of "improving R&D productivity through digitized processes" (22 percent); "enhancing quality and compliance to meet changing regulatory requirements" (18 percent); and "cost reduction in R&D to improve productivity" (12 percent), among other areas.
However, 42 percent of respondents said they are still "exploring" how digital might improve their organizations, with another three percent saying they are still "waiting and seeing" how digital is deployed before developing their own digital capabilities.
"R&D pharma executives clearly believe that digital can help them accomplish their goal of improving patient outcomes," said Kevin Julian, managing director of Accelerated R&D Services, Accenture Life Sciences. "Companies that are slow to embrace digital may run the risk of conceding competitive position, profit margin and even customer loyalty."
While all but one (99 percent) of the executives surveyed said that increasing focus on patient outcomes is a "critical" or "very important" priority, four in 10 respondents (39 percent) said that focusing more on patient outcomes was already a key priority of their R&D organizations, and half (49 percent) said that it should be the top priority by 2020.