Life Sciences Insights: The accelerated pace of change in healthcare

August 31, 2017  Competitive IntelligenceLife Sciences And Healthcare

New from Cipher! The Life Sciences Insights Brief is a monthly newsletter produced by our Director of Life Sciences, Dawn Faint. The brief will provide insights into current industry trends and actionable tips to help you navigate this complex and highly competitive market.

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The pace of change in healthcare continues to accelerate. Concerns around the direction the government may or may not be taking dominate the news.  Almost daily new alliances, mergers, acquisitions, entrants, start-ups, etc., change the competitive landscape. The impacts of forces such as vertical integration, MACRA and value-based healthcare are still playing themselves out.

Having the agility to tackle what’s now and what’s next is important, but if the strategy and budget to build contingency plans isn’t in place the necessary preemptive planning cannot be executed. As budget time approaches competitive intelligence teams need to plan for the activities to help their companies stay ahead of market shifts and their companies need to allocate the funds necessary to enact them. 

Some “no regrets” activities are listed below.

Action Items Benefits
Install a Technology Solution Designate a common access point for internal/external documents and save time by retrieving documents quickly, facilitating self-service, and tracking requests.

Automate tedious collection processes and leave more time for more value-added activities.
Refresh your Threat Assessment Unforeseen threats can come from areas not previously monitored: adjacencies, geographies, start-ups, technologies, etc.   
Broaden your Scenario Planning Testing scenarios will help your organization better address uncertainty.
Plan for War Games  Enables a company to protect its core businesses and anticipate competitor moves.

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You may also be interested in: How to Boost your Competitive Strategy with Cipher [VIDEO] • Bio-pharmaceutical Collaboration: A Research Imperative • Assess your competitive landscape in seconds with Knowledge360® • MACRA: the other healthcare law you need to know about
 
 
 

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