Manish Mittal, Axtria, Health News, ET HealthWorld

There is an increasing focus on patient-centricity, with a growing expectation among patients for more customised care: Manish Mittal, Axtria

Shahid Akhter, editor, ETHealthworld, spoke to Manish Mittal, Head of Global Delivery at Axtria, to learn more about the emerging global trends in the digital transformation of healthcare.

What are the emerging global trends in the digital transformation of the pharmaceutical and life sciences industries?
The life sciences industry is uniquely placed with huge opportunities since it has rich data, including prescription data collected by third-party data aggregators from pharmacies and clinical data from patient electronic systems. But this is the only industry where one cannot define the customer. Typically, a customer buys your product, consumes it, and pays for it. However, no single entity, patient or healthcare provider, makes all those decisions, making it a highly competitive, complicated industry.

With AI becoming mainstream, it is augmenting computing power and data availability. Consider rare diseases where the value of each customer is extremely high, yet we have yet to determine from where the customer will come. Today, we can use analytics models with every patient and physician in the network and predict where the next patient will emerge. This was not possible three years ago as computing power wasn’t available. With the cloud, we are better positioned to serve patients.

There are some key emerging global trends in the digital transformation of these industries. First, there is an increasing focus on patient-centricity, with a shift from simply developing and marketing drugs to a more holistic approach, considering the needs/preferences of individual patients. The transition is driven by the increasing availability of patient data, the rise of personalized medicine, and the growing expectation of patients for more customized care.

Second, a growing trend toward digitalization and automation to improve efficiency, curb costs and meet the burgeoning demands of patients and healthcare providers for more accurate, timely information. Automation and digitalization also facilitate the development of new products and services, such as personalized medicines, mobile health apps, and remote patient monitoring.

Third, an increasing trend toward partnerships between life sciences industries and other segments, such as the technology, consumer, and healthcare sectors. Many pharmaceutical companies are partnering with technology firms to develop digital health solutions, such as mobile apps, wearables, etc., that help patients manage their health and medication regimens.

Fourth, a growing trend toward sustainability in both industries to address the environmental impact of the production and use of pharmaceuticals, as well as to meet the expectations of patients and healthcare providers for more sustainable products and practices.

What are the challenges dominating the digital transformation of healthcare?
There are many challenges. Firstly, providing access to quality healthcare services for all patients. Second, making healthcare more affordable. Third, developing new technologies to improve the quality and efficiency of care through digital. Fourth, creating an interoperable health information ecosystem. Fifth, ensuring patient data is secure and protected. Sixth, ascertaining IT systems can scale to meet the needs of the growing number of patients and providers.
Next and seventh, ensure patients can access their data easily to view and download medical records, schedule appointments, etc.

How is Axtria making a difference ?
Axtria came into existence in 2010 in the US, and its Indian operations began in 2011. We are transforming healthcare via an AI-driven approach with the most advanced, personalized content and message delivery for healthcare companies. The proven and scalable software helps the industry improve patient engagement, grow their businesses, and reduce the product lifecycle journey even before coming to the market.

New technologies are disrupting life sciences with embedded AI and advanced analytics deployed at scale. The only way to survive is to operationalize insights faster than competitors. Axtria Information Management deploys a cutting-edge Big Data framework to quickly process, govern and move data to information. Customer sales and digital data are absorbed, processed, and consumed on the cloud to help create marketing strategies that can be designed and executed via analytics. A customer’s 360-view influences buying behaviors. With Axtria’s sales IQ life sciences, companies can deploy AI-driven segmentation, target roster management, and territory alignment for each market.

How are Axtria’s products helping the pharmaceutical and life sciences industries?
Increased automation and the creation of purposeful business is the new world order. More than ever, companies are looking to replace archaic and ad hoc systems with digital data enablement, analytics at scale, and cloud software to deliver improved customer experience.

At Axtria, we support both! We empower global life sciences companies to achieve sustainable growth through digitization and reimagined innovation. We have emerged as a disruptive and innovative leader with a robust suite of AI-powered platforms – Axtria DataMAx™ for data management, Axtria InsightsMAx™ for analytics industrialization, Axtria SalesIQ™ for integrated sales planning and operations, Axtria MarketingIQ™ for key marketing decisions, and Axtria CustomerIQ™ for omnichannel customer engagement.

The products are designed to enable the life sciences industry to attain its vision of improving patient outcomes. By deploying data and analytics, companies can identify patients more accurately and faster, helping them reach patients at the right place at the right time with their products.

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