Life Sciences’ Transformative Journey to Consolidation in 2021 and What to Expect in 2022

Parth Khanna
November 16, 2021

The Covid-19 pandemic has impacted the world in every conceivable way. One of the most significant changes has been the transformation of the life sciences industry and the accelerated rate at which drugs and medical devices are being brought to market.

Before the pandemic, the industry was already going through a major transformation with Value-Based Care, Obamacare, and the Sunshine Act. We knew the rules of engagement were already beginning to evolve. Fast forward to today, where more dollars than ever are going into clinical research and pharmaceuticals. The pipeline of new drugs and devices is larger than it has ever been before. 

Senior leaders are thinking about the future of work now that the world is working remotely — How does that impact the day-to-day operations of pharmaceutical companies? Similarly, because of the changing behaviors of health care providers and patients, the industry is asking — What are the new ways of promoting drugs and devices?

Because of these large industry transformations, EdTech in the life sciences industry is rife for disruption. I want to share why that is the case, and the best way to do that is through a story.

Imagine there is a breakthrough congestive heart failure drug that has passed through long clinical trials. There’s a plethora of data backing the effectiveness of the drug for patients and it’s now ready to hit the market.

When we map out the journey of the drug from lab to bedside, we see that there are some key stakeholders that need to be educated on different elements of this new drug.

For example, clinical research associates in an R&D context need to be trained on the clinical trial SOPs, medical sales liaisons need to understand the clinical evidence story, and sales reps need to be able to speak to the commercial message. Furthermore,  downstream to the bedside, we have healthcare providers that are asking for real-world evidence supporting the claims of this drug. And finally, patients are seeking novel ways to learn about the treatment pull-through so they can make a thoughtful decision about the effect of the drug on their lives.

Despite that, when you look at the tech stack powering all those stakeholder learning experiences, we find that it is fragmented and outdated. 

For example, when we look at the tools currently available to sales reps, we find there are dozens of single-point solutions that are patched together by various disparate teams. 

Now, if we multiply that by hundreds of new therapeutic areas, thousands of new drug and device launches each year, tens of thousands of teams and territories around the world, millions of stakeholders, and billions of dollars spent — we can see where the problem lies. 

We’ve spoken to over 900 life sciences companies in the last four years and the pain points are clear. In the life sciences industry, as it stands, we have silos, disjointed end-user experiences, mutated commercial messages, big compliance risks, mountains of data with no insights, and ultimately, disengaged healthcare providers. 

That’s where ACTO comes into play.  

ACTO is the life sciences industry’s first and only Omnichannel Education Platform. We’re changing EdTech and the learning stack in the following ways:

  • We’re life sciences first
  • We’re focused on the user experience 
  • We consolidate multiple single-point solutions into one intuitive experience for your end learners
  • We unlock powerful data insights 
  • We break down silos 
  • We’re built for compliance

Here’s what the world with ACTO looks like. 

With ACTO’s powerful omnichannel solutions, learners along the care continuum can experience a unified strategic journey. That breakthrough congestive heart failure drug can move seamlessly from lab to bedside, through one consolidated command center.  

We provide a seamless journey so that the right treatment gets to the right patient at the right time. From quality assurance and compliance use cases, to medical affairs, to CL&D and commercial excellence, ACTO drives value across the care continuum. 

The Covid-19 pandemic has been a challenge to every industry, and life sciences are no exception. We may be navigating through uncharted waters, but if we continue to innovate, we can come out of the other side of this crisis with transformative technology that moves the needle forward on medicine.

To find out more about ACTO’s powerful omnichannel solutions and platform, talk to our solutions expert.Tags: compliancecovid 19drugsed techhealthcarelife sciencesmed deviceomnichannelpharmaregulatory affairsremote worksales repssunshine actvalue-based care