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LATEST THINKING


OVERVIEW

Life Sciences companies can now apply a new approach to assessing the “affectability” (or dollar value) of the economic potential of digital health assets in specific therapeutic areas (TAs) across the patient journey: prevention/early diagnosis, intervention and monitoring.

By assessing digital opportunities and avoidable costs through a TA lens, they can identify hidden pockets of value they have likely overlooked. They can define a value-creation strategy, based on a differentiated portfolio of digital assets. And they can make more strategic investment decisions that help improve patient outcomes, business performance and competitive advantage.

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KEY FINDINGS

Life Sciences companies have not had an effective way to measure the affectability of digital assets on patient outcomes or disease cost burdens.

Until now.

Accenture Strategy used a new approach to analyze digital’s potential economic impact on six therapeutic areas (TAs).

What we found:

  • Across all six TAs, digital assets present a $108 billion value opportunity (or $60 billion, when adjusted for risk).

  • The highest-impact digital opportunities often lie outside high-prevalence diseases. In fact, 50 percent of system costs can be avoided by targeting investments to rarer disease states.

  • Within prevalent disease states, too, the opportunity does not lie where many Life Sciences companies think. The greatest digital value lies in assets that can be applied to multiple TAs. For example, in the area of Congestive Heart Failure, $2 billion in annual costs can be avoided by applying digital assets originally intended for Diabetes, Atrial Fibrillation and Hypertension.

THE PATIENT JOURNEY

RECOMMENDATIONS

A Digital Potential Analysis allows Life Sciences companies to see the economic impact of digital assets within specific TAs across the patient journey. The therapeutic lens expands these companies’ perspectives and opens up new investment opportunities. To capture the greatest value from their digital assets, Life Sciences companies must:

Make digital asset investment a C-suite imperative.
Implement a digital portfolio investment approach and conduct cross-disease value calculations to scale investments and reduce disease cost burdens.
Build digital ecosystems with other companies to seize more digital value.
Embed digital collaborations as a strategic capability.

THERAPEUTIC LENS ON VALUE



AUTHORS

CONTRIBUTORS

Helen Jun                             Connect with Helen Jun's Profile/s on LinkedIn. This opens a new window.
Mike Morgan        Connect with Mike Morgan's Profile/s on LinkedIn. This opens a new window.
Aadhar Shah        Connect with Aadhar Shah's Profile/s on LinkedIn. This opens a new window.
Jonathon M. Wright        Connect with Jonathon M. Wright's Profile/s on LinkedIn. This opens a new window.

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