The Impact of Digital and Technological Health Innovations on Pharma

January’s Program was held at the Nippon Club. To download the event summary, click here.

In 2014, digital health investments topped $6.5 billion, compared with $2.9 billion in 2013. Digital health is also predicted to be the top performer across the venture investment landscape in 2016. The rise of technology and digital applications in the pharmaceutical industry has led to a variety of innovations in areas including R&D, data analytics, patient and doctor experience, and company strategy among others. Recent advances have allowed companies and stakeholders to handle and share data in new ways, and leverage data to generate insights that improve patient care and reduce cost. They have also sped up the drug discovery/development process.

McKinsey recently conducted research on the digital revolution, speaking with 20 leading executives across a variety of market segments to find out how they are staying ahead of the changes happening across the industry. The consensus in their report, “How Pharma can win in a digital world,” was that pharma companies must transform themselves in basic ways to stay competitive. The report noted, “Successful companies will rethink their business and operating models, transform their cultures and capabilities, and adopt a new, longer-term mind-set that fosters innovation and bold strategic moves.”

This program will feature presentations by three experts: Amy Hung of McKinsey & Company, who will present the aforementioned research, as well as Clifford Jones, CEO of AllazoHealth, and Pinaki Dasgupta, Founder and CEO of Hindsait, Inc. who will explore how their companies are providing new solutions to existing problems in a changing industry landscape. AllazoHealth tackles the problem of medication non-adherence through predictive analytics and personalized interventions that empower patients to better manage their illnesses and avoid additional healthcare costs. Hindsait uses natural language processing and AI to analyze a company’s data streams and facilitate patientcare decisions to avoid error and fraud, and reduce overall cost.

All three speakers will discuss how technology and the digital revolution are transforming the industry and how biopharma companies can stay ahead of these changes.

**Click Speaker Name for Bio

Amy Hung, Leader, Digital Hub, and Research Manager, Pharma/Medical Products Knowledge Team at McKinsey & Company
Amy Hung - McKinseyMs. Hung founded and is currently the Leader of the Pharmaceutical and Medical Products Digital Hub at McKinsey & Company, where she directs a team of experts advising clients on digital strategy and operations. She is also the Research Manager for the Pharmaceutical and Medical Products group at McKinsey, directly responsible for the overall strategy, operations, and professional development of the team in North and South America where she leads firm-wide projects. Her previous experience includes serving as Engagement Manager at McKinsey focusing on healthcare strategy and organization, and extensive experience working with leading pharmaceuticals on a wide range of topics including pharma R&D, healthcare reform, growth strategy, organizational structure, and portfolio management. She has a Master’s Degree from MIT in Materials Science and Engineering as well as a Master’s Degree from Harvard / MIT in Health Sciences and Technology.
Clifford Jones, CEO, AllazoHealth
Clifford Jones - AllazoHealthMr. Jones is the founder and CEO of AllazoHealth, where he uses behavioral science research, industry expertise, and advanced predictive analytics to combat medication non-adherence. Prior to founding AllazoHealth in 2011, he worked as an entrepreneur and consultant on IT enabled medication adherence to Fortune 100 companies developing novel adherence programs. He served as Manager for Product Innovation at CVS Caremark where he grew Pharmacy Advisor® from a small team project to a flagship, company-wide award-winning program. Recognized with the “2011 Rx Benefit Innovation Award” from the Pharmacy Benefit Management Institute and a “Best Practices in Health Care Consumer Protection and Empowerment Award” from URAC, Pharmacy Advisor® now has 780 clients representing 14M+ individuals who have signed up for the program. He has an MBA in Healthcare Management from the Wharton School of Business.
Pinaki Dasgupta, Founder and CEO, Hindsait, Inc.
Pinaki Dasgupta - HindsaitMr. Dasgupta is the founder and CEO of Hindsait, leveraging Artificial intelligence to improve healthcare. Prior to Hindsait, he was at Accenture where he leveraged his more than 20 years’ experience in engineering, big data, and business leadership to drive major aviation projects. Mr. Dasgupta was born to be an entrepreneur, and after several first-hand experiences with problems in our healthcare system he knew he found his opportunity – and Hindsait was born. He is known for his expertise in Business Development and Big Data. He is a passionate leader and healthcare entrepreneur and has a successful track record of incubating new ideas, launching new businesses and turning such ventures into several $ 100 M/year revenue entities. He has a Master’s degree in Business Administration.
Caroline Hofmann, Associate Principal, McKinsey & Company
Caroline Hofmann - McKinsey & CompanyMs. Hofmann is a junior partner at McKinsey & Company in the Health Care Group where she serves pharmaceutical and medical products clients on strategy and commercial topics with a particular focus on digital. Additionally, she leads McKinsey’s efforts on patient-centered solutions and patient engagement and has expertise in real world evidence, big data in healthcare, marketing, and sales. She has an MBA from Harvard Business School.