Taren Grom, Editor
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We’ve heard from analysts and thought leaders why this shift — driven by myriad factors, such as the changing physician landscape, a more predominant payer landscape, and technology advances that are creating incredible opportunities — is important for sustainable growth and success. And the transformation is far from over. In this month’s cover story, the business model evolution — or Re-Imagining the Future of the Life-Sciences Industry — experts discuss how the industry is set to reinvent itself into a real-world, value-based — as opposed to a volume-based — ecosystem. Innovative companies are bringing that transformation to bear by developing solutions to create a new footing in the changing world of healthcare.
As one of our thought leaders notes, the life-sciences industry has not always been able to follow innovative paradigms of other industries because of its healthcare mission, but in a marketplace increasingly driven by clinical efficacy and value-based outcomes, understanding the customer is as important for pharma companies as it is for Pepsi. This understanding of the customer is leading to holistic wellness strategies that bridge across the patient journey.
Frost & Sullivan analysts have identified what they call “Wellth is Wealth” as one of the top 15 trends for 2015. They say companies will start shifting their strategies from “profit to purpose” by creating wellness experiences through ergonomically designed environments, new wellness features in products and even health-conscious restaurants, to name a few, as individuals will increasingly look toward striking a work-life balance and demand goods and services around the wellness value proposition.
Frost & Sullivan also identified the trend of “Millennial leaders” as a top trend for the year. As the number of college graduates increases every year, they expect to see an influx of Millennial leaders in the next year. They say watch out for more horizontal leadership, collaborative working techniques, and new career paths in the coming year. In our feature article Gen Y — Gen Now, we also explore the impact that Millennials are having on the healthcare market as consumers and employees and not just in terms of sheer numbers, which is inconsiderable: 77 million, or 24% of the population.
As the newest generation of healthcare consumers and the employment pool, the Gen Y population — all 77 million of them — want us to know they want to be happy, they want to be healthy, and they want their work to mean something. And they don’t think that is too much to ask out of life. Find out what else is on the minds of this influential group in this month’s issue.
Check out the other 13 ideas and innovations that Frost & Sullivan predicts will shape our world in the coming year by going to http://ww2.frost.com.
Responding to forces from consumer demand, technological advances, and data capturing innovations, the industry is set to reinvent itself from a volume- to a value-driven proposition.
- The Internet of Things
- Creative Directors — ?Secrets to Success
- 3-D Applications in Medicine
- The Wearables Craze — ?From FitBits to the iWatch
- Oncology: Patient Care
- C-Suite: EMR/HIT Companies
- Market Focus: Venezuela
- Showcase: Market Research
The forum for the industry executive
Volume 15 • Number 2
Publisher Lisa Banket
Editor Taren Grom
Creative Director Marah Walsh
Director of Sales
National Account Manager
Webcast Network Producer
by PharmaLinx LLC, Titusville, NJ
Printed in the U.S.A.
Volume Fifteen, Number Two
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