We have now tested the DQ with more than 100 thought leaders and 200 companies worldwide. Creating digital touchpoints, for example using WeCom to interact with healthcare professionals (HCPs), also allows us to generate our own data, and improve quickly by measuring customer satisfaction and other variables. Can you improve data quality and make it more reliable? McKinsey: Three years from now, looking back at what the digital transformation has achieved, how would you define success? Develop digital leaders - Create a plan to develop digital . Patients are already starting to use patient portals for their medical records and to communicate with their physicians, and they use apps to fill scripts and online patient communities to speak to other patients with the same disease. Improved Drug Development. A third key, focused on technology in company operations, is organizations modifying their standard operating procedures to include new technologies. The US Department of Defense is testing robots to engage and screen soldiers for posttraumatic stress disorder,2 2. To gain a deeper understanding of the digital challenge businesses face, McKinsey developed an assessment tool for diagnosing a companys digital maturity. Deciding which emerging technologies are worth investing in and getting your team on board with change is often the hardest part.. Look, adapting to the digital era requires a shift towards a flexible and risk-taking mindset. The 21 keys to transformation success are the practices with the highest Shapley values. and many others are creating digital roles at a senior-management level. Pharma plants preside over complex, disparate, and highly regulated supply chains, with both raw materials and partially-processed components arriving from across the . Senior managers foster a sense of urgency within their units for making the transformations changes. That said, 60 percent of pharma companies admit their digital initiatives are only partly linked to their broader strategy. A successful digital organization needs an efficient operating model. Due to the involvement of different stakeholders, it is difficult for pharma R and D to transform smoothly into Agile methodology. Our iterative agile build cycles go faster and involve users in the development process, resulting in solutions that are much more relevant and impactful. This article aims to remedy that. This may be due to pharma's notorious aversion to change, but it may also be . Nearly 40 percent of pharma companies admit they do not understand these journeys well enough to map digital touchpoints and align them with their digital strategy. That meant recruiting more agile coaches, driving agile awareness, rolling out training, and adapting our office space to support agile pod work. Meanwhile, we want to have a real understanding of patient needs, use their feedback to upgrade, and help them to improve their treatment outcomes. For younger generations, and the young at heart, mobile digital experiences are an integral part of consumer services, from banking and insurance, to entertainment, retail, and travel. When senior managers and initiative leaders use new digital channels to reach employees remotely, the rate of success is three times greater. McKinsey & Company 4 Thought leaders in digital health agree that the fundamental ecosystem of healthcare is changing SOURCE: McKinsey interviews with leaders in digital health across pharma, data analytics, startups, venture, academics, and medical futurists Physicians "Wearable devices that today are still in the more recreational-grade state are changing incredibly rapidly into research-grade As the statistics suggest, we'll be witnessing an era of rapid digitization that could possibly alter the global industrial landscape for good. Today, the commercial impact of a product or therapy can depend as much on the patient or provider experience it offers as on its clinical effectiveness. The survey results indicate how, exactly, companies should make the technology-supported changes that differentiate successful digital transformations from the rest (Exhibit 2). 1 McKinsey: What role does advanced analytics play in digital transformation? McKinsey review of top 25 global pharmaceutical companies, based on LinkedIn data. To realize it, they will have to build advanced digital marketing and engagement capabilities similar to those deployed by leading retailers, airlines, telecom companies, and consumer-goods companies. Something went wrong. 1. Better Traceability for a Unified Supply Chain. Exhibit 1 McKinsey_Website_Accessibility@mckinsey.com Under CEO Paul Hudson, French-European pharmaceutical company Sanofi is seeking to shape this transition; pursuing global leadership in scientific innovation, and the use of digital technology and data to transform the practice of medicine. Subscribed to {PRACTICE_NAME} email alerts. Evaluating customer's requirements better. Channel programs News COVID-19 Accelerating Digital Transformation: McKinsey Joseph F. Kovar November 27, 2020, 10:00 AM EST "Respondents are three times likelier now than before the [COVID-19 . Respondents are 1.5 times more likely to report a successful digital transformation when this practice is in place. For instance, we already have a smart engine that analyzes data from 50,000 touchpoints a day, allowing us to map correlations and then tailor improved customer interactions. Advanced data analytics that mine electronic medical records, including diagnostic results, medication history, and genomic, proteomic, and gene-expression data will help identify optimal therapies and predict how individual patients will respond to treatment. Headed Sanofis Turkey and Middle East operations with P&L responsibility for PharmaOps. Only 16 percent of respondents say their organizations digital transformations have successfully improved performance and also equipped them to sustain changes in the long term. Most pharma companies recognize that digital will have a disruptive impact on healthcare. Ultimately, we want to develop a digital patient journey solution that can be reimbursed by the healthcare system. To make commensurate comparisons of each practices impact on the likelihood of transformation success, Total Unduplicated Reach and Frequency (TURF) and Shapley value analyses were run. In a new McKinsey Global Survey on digital transformations, more than eight in ten respondents say their organizations have undertaken such efforts in the past five years. But it will be more personalized, targeting the needs of each patient with greater precision than before. By contrast, companies considered digital leaders in other industries have a digital strategy that is fully embedded in their core business. We have already rolled out agile and digital capability training to much of our corporate workforce, but much still needs to be done to upgrade the mindset and culturealthough we are also making good progress here, too. Recent digital transformation trends provide both patients and companies in . In fact, the DQ assessment revealed that pharma companies are limited not just by their digital and analytic capabilities but also by specific elements related to their strategy, culture, and organization (Exhibit 3). "Two-thirds of people believe they could be making more decisions about personal health and wellness on their own," a survey conducted by Ipsos in collaboration with the National Council on Patient Information and Education and Pfizer, 2015, multivu.com. Exhibit 3 McKinsey_Website_Accessibility@mckinsey.com How pharma can win in a digital world Read the article 1. Serves as Board Member of the RDPAC (R&D-based Pharmaceutical Association Committee) of China. Something went wrong. Franck Le Deu is a senior partner in McKinsey & Companys Hong Kong office; Serina Tang is an associate partner in Shanghai. There is already a plethora of wireless sensors on the market to measure a patient's biophysical signals. Serves as Board Member of the RDPAC (R&D-based Pharmaceutical Association Committee) of China. To capture this value, each company will need to consider how its businesses are set to be affected by the digital changes under way, and then chart its own course accordingly. We can measure HCP satisfaction via NPS (Net Promoter Score) surveys, leverage them to design meaningful interactions and initiatives, and better equip our staff. Hornstein: Saying that Chinas data is unreliable is too often used as an excuse not to look at the data. Read our latest thinking on digital transformations. One related factor is encouraging employees to challenge old ways of working. Look at your data, whatever the quality, as it helps you benchmark customer behavior and derive insights. This in turn yields higher efficiency and productivity for our field force and marketers. Digital Transformation in Pharma. Today, we invest less in aggregate than we did three years ago, yet for the chosen priority projects, we devote more resources. Yet success in these transformations is proving to be elusive. A mere 15 percent of senior pharma managers (C-level executives and their direct reports) could identify their companys main digital-related key performance indicators, and only 40 percent felt the members of their leadership team were well versed in digital trends. A second key is senior leaders fostering a sense of urgency for making the transformations changes within their units, a practice where good communication is central. digital transformation more likely to succeed, complex execution of transformation initiatives, McKinsey_Website_Accessibility@mckinsey.com, People & Organizational Performance Practice, fundamental action for traditional transformations, AI, automation, and the future of work: Ten things to solve for, Skill shift: Automation and the future of the workforce, Retraining and reskilling workers in the age of automation. Unlocking success in digital transformations. For companies with a high DQ, digital is not an island operating independently of business strategy; rather, its embedded within it. Hornstein: Our first priority was to instill an agile mindset and ways of working within the digital organization. Digital technology consulting for pharma companies. Acts as Vice Chair of the European Union Chamber of Commerce in Chinas Shanghai chapter. Eight in ten respondents say their recent change efforts involved either multiple functions or business units or the whole enterprise. Having a clear governance structure also helps companies exert proper oversight over digital spending. These efforts have elevated Sanofis reputation as a digital and innovation leader in the healthcare sector, making it easier to attract talent. The team aligned on four main business priorities and generated ideas on how digital and data could drive these forward. McKinsey: Last year, you launched Amulet Health Technology. There are online communities for sharing and discussing patients' experiences, apps and sensors to monitor the impact of therapy on a patient's daily life, and advanced data aggregation and analysis to link disparate, complex data sets and generate new insights into drug safety and efficacy. Then, digital initiatives were prioritized and each assigned an executive sponsor to ensure continued support and accountability at the leadership level. In pharmaceuticals, employee on-boarding, sales and operations planning, launch monitoring, and marketing-content approval would especially benefit from streamlined, automated work flows and increased transparency. And they are able to collect petabytes of data from these and other sources, such as electronic medical records and insurance claims, capturing valuable insights. That is a profound mistake. We quickly established our WeCom platform for HCP interaction, as well as our data lake and application hosting environment on Tencent Cloud. 1 4 McKinsey: How will digital transformation affect the way Sanofi China operates five years from now? 2 The ability to personalize interactions with stakeholders is a key value driver from digital technology in any industry. 1 We'll email you when new articles are published on this topic. 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