| 20th January 2016
The role of insight is to align businesses and their internal and external customers with products and services that meet the needs of both in a sustainable way. Insight is rooted in customer understanding and feedback, and shapes the foundation of strategy and its execution.
As such, it is a validated and considered understanding of how to achieve that desired alignment, and to translate it into successful business for the benefit of all involved. Business needs, nurtures, and relies on insight.
Like other sectors, healthcare relies on insight. Therefore, it isn’t immune to the factors that affect the likelihood of a business to reach meaningful insight. Insight should inform strategy and its execution in a way that is going to sustain market change, differentiate the brand, and also deliver optimal commercial success.
Reaching insight in healthcare can feel like a set of successive challenges, some of which could be considered ‘wicked problems’. From over-arching considerations on evolving regulatory constraints, payer challenges, and adherence, to commoditisation spreading across therapy areas, relentless change affects healthcare. This is not new. What is more recent is that the change is multi-faceted, multi-factorial, and can be peripheral to traditional healthcare, yet still powerful. New players from other industries are entering the healthcare sector with products and services developed with new technologies, evolving the demands of consumers and governments and changing the landscape of healthcare more broadly.
The domino effect is at play, amplified, and can feel like Brownian motion at times; change is happening via a series of seemingly random interactions. The meaning of ‘brand’ itself is not immune to change. In the changing landscape of healthcare, strategy can feel like a prism in motion, both in its fabric and in its execution, and should perhaps be conceived as such.
And so insight is:
Change is pushing and redefining the boundaries of the space that insight operates in. Insight ‘Big Data’ can be used in several ways to affect brand, portfolio, and business strategy in healthcare via initiatives from new technology sector players:
For example, the challenge of co-positioning within portfolios or fixed drug combinations, with the aim to address Loss of Exclusivity or multi-pronged competition, requires a fresh perspective on which information to seek, how to cross-analyse it and understand it, and what reaching meaningful insight looks and feels like.
| 21st June 2017
Medical congresses are one of the most important and intensive marketing activities a company can undertake. Here Dolan Desai and Dale Choate give you the practical tools and tips you need to create a leading congress experience.
| 15th June 2017
The 21st Century Cures Act was signed into law last December during the Obama administration. It brings numerous changes to the US drug development landscape, impacting patients, academia, research institutions, and industry. Over the last number of months Blue Latitude have been engaging with US pharma companies to help our clients understand its implications and how it could be leveraged.
| 23rd May 2017
What drives us at BLH is the opportunity to make a real difference – and for our clients, that difference is measured both in customer outcomes and commercial outcomes. In the Executional Excellence edition of Perspective magazine, we explore topics around the ‘executional excellence’ theme – creating work that works.