The Future of Pharma: Technology's Opportunity to Improve Patient Care

Tech innovation is impacting everyone, everywhere — including those in need of specialty medical care. Although there has been robust innovation across the healthcare industry as a whole, patient services and engagement tools, specifically in pharma, are lagging behind. The idea that doctors can simply write a prescription and send patients on the path to healing just isn’t the reality. People, especially those with a chronic condition or comorbidities necessitating multiple medications, require well-rounded, ongoing support to be successful in their medical treatment. Healthcare relationship management and patient engagement platforms can provide that level of support. More and more people are being diagnosed with chronic conditions. In fact, research shows that chronic diseases like heart disease will affect an estimated 164 million Americans by 2025. Additionally, the consumption and spend on prescription medication continues to climb, with 2018 data revealing that 5.8 billion prescriptions were dispensed at a total cost of $344 billion. However, only 30 to 50% of those medications were taken as prescribed. On top of this, physicians are stretched increasingly thin and not always able to dedicate the time required to help patients manage their increasingly complex medication regimens.