Wednesday, June 3, 2020

Future of Work: Building the new commercial operating model An opportunity to build capabilities for the future

Digital engagement platforms, new sales calls, direct patient connect and commercial organization of the future are key elements critical to the new operating model

Mumbai, June 03, 2020: The healthcare eco-system today is in an unprecedented period with COVID-19 impacting all major stakeholders. According to a new article by Indian Pharmaceutical Alliance (IPA) and Boston Consulting Group (BCG), traditional channels of interaction between patients, prescribers, healthcare companies, and pharmacies have been disrupted. The article titled ‘Future of Work: Building the new commercial operating model’ outlines elements that healthcare companies need to consider while designing their future commercial operating model.

The article reflects on key innovative measures adopted by stakeholders during COVID-19, and the implications for healthcare companies as they adapt to these trends. Results of a BCG survey of 200 physicians indicate that 68% prescribers will curtail physical visits by sales representatives post the lockdown as issues of safety remain. With restricted access becoming the new normal,  70% prescribers are willing to continue engaging with healthcare companies through digital mediums and 60% prescribers are inclined to continue virtual interactions with salespersons. Healthcare companies also need to leverage the emerging trend of a rise in e-pharmacies and teleconsultation platforms, along with adoption of digital in internal processes.

BCG and IPA believe that the journey towards ‘Future of Work’ is defined through a maturity model across the four elements of digital engagement platforms, new sales call, direct patient connect and commercial org of the future. Healthcare companies can choose where to position themselves basis their  strategy, prescriber preferences and investment willingness. For each choice, there are implications on the firm’s commercial operating model, with a focus required on building capabilities.

Speaking about the report’s insights, Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance said,  Technological changes and evolving global trends have made it necessary for the pharmaceutical industry to explore ideas on transforming work. COVID-19 pandemic poses new challenges and becomes the catalyst for behaviour changes. The future of work outlines these ideas and lays a path to new business operating models which augment the current capacity. This report discusses the various approaches that pharmaceutical companies can adopt to chart their course to become an organization of the future.”

COVID-19 has transformed the Indian pharma ecosystem by digitizing interactions across doctors, patients and pharma companies. This provides an opportunity for the leading companies to build the future commercial operating model. While digital will be the core of the new operating model, this article explores how companies can devise a differentiated strategy to engage doctors and drive better patient outcomes” said Rahul Guha, Managing Director and Partner; India Lead of BCG’s Healthcare Practice.

About Boston Consulting Group

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact.

To succeed, organizations must blend digital and human capabilities. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives to spark change. BCG delivers solutions through leading-edge management consulting along with technology and design, corporate and digital ventures—and business purpose. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, generating results that allow our clients to thrive.

1 comment:

Katleen Garcia said...

Technology jobs are particularly well-suited for contractors or freelancers as there are often one-off projects. For example, banks might want to deploy a chatbot to automate customer requests. Companies would only need an expert to help them set up the technology by a certain deadline, after which the skills will no longer be required to maintain the system. In this case, hiring a contract worker makes the most sense. Read: an integrated workforce is the future of work.