Unlocking the value of a platform approach in life sciences
Commercial
With all the recent shifts in the industry and leading software providers promoting a platform approach across the entire value chain, many pharmaceutical companies are asking the big question: What is the true value of this approach, and what will be the real game changer for the business?
Over the past few months, based on numerous discussions with life sciences clients, BASE life science has uncovered some of the more immediate value drivers. While the advancement of technology, analytics, and ultimately artificial intelligence will reveal many untapped opportunities, the platform approach is laying the groundwork for a smarter, more agile enterprise. But to keep the momentum, the industry also needs some quick wins.
1. Achieving an enterprise view of HCPs
The first and most accessible value driver is gaining a holistic view of healthcare professionals (HCPs). For life sciences companies, it’s crucial to understand every interaction with HCPs, particularly key opinion leaders (KOLs) to be truly customer centric. In a recent workshop, a rare disease medical team highlighted the importance of managing medical insights shared by KOLs who interact with clinical teams. These insights can be invaluable to current trials and should be promptly shared with both medical strategy and clinical operations teams. Achieving a single, integrated view of HCPs through a platform approach is essential for realizing this potential.
Read blog: HCP centricity in life sciences
2. Enhancing the HCP experience
The second value driver shifts the focus to HCPs themselves. These professionals often have contractual relationships with various departments within a company, from regulatory affairs to patient advocacy. In regions like Europe and the U.S., these relationships must be publicly disclosed for transparency. A platform approach simplifies this by providing a centralized “single source of truth” where HCPs can review and validate disclosures. This transparency not only ensures compliance but also creates a more attractive and differentiated experience for KOLs, encouraging them to engage more deeply with the company and share valuable insights.
3. Managing consent with precision
A third, short-term value driver revolves around consent management. Just as contractual relationships span the enterprise, HCPs often provide consent for different aspects of their data use. To fully respect data privacy while maximizing the utility of this consent, life sciences companies need a comprehensive, real-time view of what can be communicated, processed, and shared. A platform approach is nearly a prerequisite to achieving this level of precision.
Laying the foundation for future insights
In summary, the platform approach will continue to reveal new value drivers as more data is integrated, analyzed, and leveraged for insights. Companies should aim to consolidate their operations onto a single platform to build a strong foundation for enhanced data capabilities. In the short term, this strategy delivers immediate benefits by enabling a unified view of HCPs across the enterprise, facilitating a differentiated approach to value management, and maximizing the impact of HCP consent.
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