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Digitalization is going to disrupt the Healthcare industry as much if not more than it disrupted the traditional musical industry in the last two decade. Many actual signs confirm that analogy and the key difference would only be the speed of the major changes. It is up to the different partners in the healthcare industry from hospitals and doctors to pharmacies and other drug or medical devices manufacturers around the patients to decide if it...

The “How” In Part 1 of this series, I debunked common misconceptions around using data to improve clinical trials. In Part 2, I discussed the validation of digital health tools, and how to tell which tools might actually enact behavior change. Now, in Part 3, I’d like to look at how pharmaceutical companies can actually build a step-by-step plan for implementing data-driven and agile clinical trial processes that will save time and money. In an attempt to strip down...

In Part 1, I discussed common misconceptions behind why pharmaceutical companies aren’t using data to improve clinical trials processes. Firstly, people often think that digital health solutions are young and unreliable – but in fact, there are options on the market that are incredibly robust and often unknown due to a crowded consumer market. Second, many executives believe that aggregating data points across multiple sources is cumbersome. That, too, is a misconception. In fact, there are companies...

Common misconceptions One of the biggest problems facing the pharmaceutical industry right now is overspending on clinical trials.According to a study published in April 2015 by the Tufts Center for the Study of Drug Development, pharmaceutical development companies spend between $4 and $6 billion each year in unnecessary clinical trial expenses. The problem of inefficient clinical trials is widespread, too: the report found that 1 in 4 trials (24.7%) are inefficient and wildly expensive, and much of this...