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Connected Health Excellence: Understanding Competitors, Drivers, Investment, ROI and Impact of Integrated Treatment Apps

ID: 5617


Features:

23 Info Graphics

15 Data Graphics

120+ Metrics

5 Narratives


Pages/Slides: 45


Published: 2020


Delivery Format: Online , PDF Document


 

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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from "Connected Health Excellence: Understanding Competitors, Drivers, Investment, ROI and Impact of Integrated Treatment Apps"

STUDY OVERVIEW

The rapid pace of technological innovation in the healthcare industry has enabled many biopharma and medical device organizations to build “connected healthcare applications” that enhance an existing device or drug delivery system and capture critical patient treatment data.

Biopharma and other healthcare industries see the value in connected healthcare applications that improve quality of care, patient engagement, adherence, outcomes and, at the same time, produce high business impact across therapeutic areas.

Best Practices, LLC undertook this benchmarking research to help biopharma and medical device leaders better understand the current drivers and impacts of connected healthcare applications. This study also looks at investment and performance measurement insofar as these connected apps.

KEY TOPICS

  • Study Overview
  • Key Findings & Trends
  • Understanding the Connected Healthcare Applications of Competitors
  • Connected Application Drivers, Investment, ROI and Impact
SAMPLE KEY METRICS


I. Understanding the Connected Healthcare Applications of Competitors

  • Participating companies’ experience with connected healthcare applications linked to therapeutic medical devices or drug delivery devices
  • Interviewed executive’s view on the significant change in the state of connected apps
  • Devices / products with which benchmark participants’ FDA-approved connected healthcare applications integrate with
  • Intended use of connected applications and their features
  • Total number of connected healthcare applications created by benchmark organizations, including those currently in development
  • Regulatory strategy used to gain approval for connected applications
  • Interviewed executive’s view on taking a collaborative approach to ensure that digital health tools make their way into the market

II. Connected Application Drivers, Investment, ROI and Impact
  • Most critical drivers for development of connected healthcare applications in support of therapeutic devices/drugs – Total benchmark class; Large vs. smaller healthcare organizations
  • Therapeutic area factors creating the largest opportunities for connected healthcare applications to provide value in the market
  • Investment into the development, deployment and maintenance of each connected healthcare application
  • Interview narrative around recommended approach to connected app investment, development and measurement
  • Measurement of Return on Investment (ROI) for connected healthcare applications
  • Importance of listed areas to overall ROI measurement formula
  • Range of ROI realized by benchmarked companies for their FDA-approved connected healthcare applications
  • Examples of specific apps vs. ROI to date
  • Reasons for certain benchmarked companies not measuring ROI for their connected healthcare applications
  • Level of impact of connected healthcare applications on each of the listed areas – Total benchmark class; Large healthcare organizations
  • Connected healthcare applications value growth
  • Interview narrative around value of connected healthcare applications
  • Additional business benefits observed by benchmarked companies as a result of deployment of connected healthcare applications
  • Interview narrative around the many new opportunities for pharma to serve as a valued partner

SAMPLE KEY FINDINGS
  • Scale - Nearly 90% of app-making companies have launched multiple apps across their portfolio:
    1. Among surveyed companies who have developed connected applications, nearly nine out of ten have developed multiple ones.
    2. Large Healthcare Orgs: 61% of organizations have launched between 4-9 apps (46%) or 10+ apps (16%).
  • Program drivers - Top 3 drivers of connected app strategy are improved outcomes, adherence & market performance:
    1. The top-ranked driver of app development is improving treatment efficacy and health outcomes, followed closely by increasing adherence, improving competitive performance, and evaluating real world patient use. Other objectives – such as patient education, feedback, technical improvement and reduction of AEs – are rated as significantly less important.
    2. Large Healthcare Orgs: The #1 driver for app development is achieving better market performance
METHODOLOGY

Best Practices, LLC engaged 29 leaders from 26 life sciences organizations through a benchmarking survey in this research. Deep-dive interviews were conducted with five biopharma executives to provide further insight.

Industries Profiled:
Health Care; Pharmaceutical; Diagnostic; Biopharmaceutical; Consulting; Manufacturing; Biotech; Consumer Products; Medical Device; Clinical Research; Science; Technology


Companies Profiled:
Abbott; AbbVie; Alnylam Pharmaceuticals; Ashfield Healthcare; Astellas; AstraZeneca; Bayer; BioMarin; Bristol-Myers Squibb; Cadila Pharmaceuticals; Evolution Road; GE Healthcare; Johnson & Johnson; Kaleidoscope Health and Care; LifePlus; Mallinckrodt; Merck; Merck KGaA; Novartis; Pharm-Olam; Phillips-Medisize; Science 37; Seca - Precision For Health; Takeda Pharmaceuticals; Thermo Fisher Scientific; Wipro

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.