New competitors are moving in. Across all lines of business (LOB), more than … McKinsey: What advice would you give CEOs managing in today’s environment? Companies will have to embrace scientific advances and technologies to move new and innovative therapies forward. We’re going to have to do it together. Centre Health Syst Saf Res Aust Inst Health Innovation, 1 (2) (Jun 2013) ... S. Goudrey-SmithExamining the role of new technology in pharmacy: now and in the future. 2014. $825 million announced in pharmacy program changes. As a result, one of the key technology trends in 2017 will be that pharmacies increasingly move their business systems, such as pharmacy management software, HR and financial and business management systems, to the cloud along with their protective aspects such as security and virus protection. You still need to do many of the same things we do now to educate physicians and reach patients, although the social-media component will be bigger. Similarly, with the consolidated medications list described above. Problem: Only about 30% of adults have an Advance Care Plan (ACP) expressing their wishes for end-of-life care. New health information technology (HIT) and the increasing awareness and use of robotic dispensing systems have made pharmacy operations faster and more efficient, while at the same time improving patient safety. What do you see as the pharma company’s role in that? The AirCall app features every traditional call center tool without requiring a company to purchase equipment or spend a fortune in startup costs. If you have spotted any new inventions or innovations you think we should add to the list, make sure it has a website we can link to, and a nice photo of the invention. Are doctors paid to fill out the AIR? A quarterly publication featuring case studies, clinical experiences, commentaries, idea papers, original research, review articles, and student projects that focus on leading edge, novel ideas for improving, modernizing, and advancing pharmacy practice, education, and policy. The macro technology trend here is about data. There’s so much that can be done to improve diagnosis and compliance, and in a lower-cost way. People create and sustain change. This should deepen the pool of patient medication data available to health professionals, which provides an ever more accurate diagnostic picture for professionals. So too, issues such as computer failure, network problems and data corruption are hard to predict and can cause major problems for your pharmacy operations. New Innovations is a terrific example of what a SaaS (Software as a Service) should be: Maximum impact with nearly zero need for internal IT support. What’s next for the pharmaceuticals industry, amid digital disruption and rapid technological advances? New pharmacy ideas can come from anywhere – including recent technology innovations that have yet to make it to pharmacies. We'll email you when new articles are published on this topic. Secures new funding. You go to a doctor, he or she makes a diagnosis and sends you home, and there’s little follow-up until you next return. Innovation in 2019 is looking at how the pharma industry can reverse ‘Eroom’s Law’ back to ‘Moore’s Law’ and take the decrease in accepted new drugs and increase in costs back to a more profitable position. McKinsey: This raises the issue of generating real-world-evidence data. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. Management Innovation covers introduction of a new method o f carrying out business. The ability to innovate, industry leaders agree, will be a critical factor in a pharmaceutical company’s success in the future. Join 20,000,000+ people getting better and faster with our New York Times Bestselling methods, best innovation books & keynote videos. This change is occurring as a result of two related developments. This web site is intended for Australian pharmacy professionals and is not a substitute for independent professional advice. Which areas strike you as having the biggest potential? One of the latest topics to hit the pharmacy scene is the change in licensing of sildenafil from a POM to P medicine. Use digital refills, text … The fields of research at this institution include the modeling of molecular interactions, prediction of biological effects of molecules, and identification of potential new drug agents. Although many of us will not actually deal with some of this new technology for years to come, it is a very exciting time in the field of pharmacy. And right now, the industry is spending a lot of energy and time on degenerative diseases of the brain such as Alzheimer’s. Read the latest in new drug development and pharmacology from leading research institutes around the world. 6.5K likes. Take Gleevec and Herceptin: at first, few believed that targeted cancer therapy could have much impact, but after those two medicines came out, R&D dollars shifted to targeted treatments and spawned dozens of medications, some of which are true breakthroughs. 2014. Longer term, there is considerable potential for innovative use of data-based services to eradicate a number of operational and clinical hurdles faced by pharmacists. EPCS now is gaining traction and should increase rapidly due … The 10 innovations we describe in this report have the potential to break the constraints of the FFS-based health care system and expand the frontier through new business models that can deliver care in ways previously not thought possible. 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