How to Advance Automation and AI in Pharmaceutical Companies

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This article is a continuing series on fields advancing in automation and artificial intelligence. Today’s topic is Pharmaceutical Companies.

Pharmaceutical companies need help. Pharma is challenged on two fronts. One is inflation and the other is pressure to lower prices. The following strategies target profitability and lower costs.

Illustration on neural network

Number One Strategy: Artificial Intelligence

Developing new drugs is a costly and competitive process for every pharma company. It requires a lot of scientific research and data analysis. AI is applied in the following areas:

  1. Making New Drugs by researching vast amounts of data to discover new molecular compounds.
  2. Fixing Failed Drugs by identifying molecules that failed in clinical trials. Then predicting how the same compounds can be used to target other diseases.
  3. Doing Marketing by comparing the results of past marketing campaigns to identify the most profitable ones[2].
  4. Improving Production by transforming manufacturing techniques.[4].
  5. Reducing Costs- Managing the supply chain effectively reduces overall time and money spent.
  6. Finding patients for clinical trials increases success rates of new drugs.[1][2][3][4][5].

Illustration of Patient Engagement

Trending Strategy #2: Hybrid Stakeholders and Patient Engagement

The term “hybrid stakeholders” means patients and other groups are included as valued members of the pharma team.

“Patient engagement” means patients have a say in healthcare decision-making.

Patients, healthcare providers, and other stakeholders connect in new ways. Since patients are experts in their own health, their input is vital.

Traditional healthcare methods are combined with the hybrid approach to maximize the outcome. Patients are more satisfied because their needs are met. This results in faster, more effective results.

Patient remote teleconference apps, and mobile health apps, facilitate constructive feedback to the pharma company[1].

Remote Trials

Strategy #3: Remote trials and care pathways.

Remote trials and care pathways are two related concepts in healthcare. They involve technology that improves patient care and clinical research.

Remote trials refer to clinical trials that are conducted remotely.  The web-based software reduces the need for in-person visits and increases patient participation. Remote trials:

  • Improve patient access to clinical trials
  • Increase patient diversity
  • Reduce costs associated with travel and in-person visits[1][2].

Care pathways are guidelines that outline the best practices for treating a particular condition or disease. Teleconferencing affords patients the comfort and privacy of their own homes. The team captures the right health data at the right time. Digital care pathways improve patient outcomes, reduce healthcare costs, and increase patient satisfaction[3].

  • Remote patient monitoring (RPM) uses technology to monitor patients remotely. Patient data is collected in real-time. RPM improves clinical outcomes, reduces hospital readmissions, and increases patient engagement[4][5].

Illustration of Diversity and Inclusion

Strategy #4- Improvements in Diversity, Equity, and Inclusion

Improvements in diversity, equity, and inclusion help pharma companies in several ways.

  1. A diverse workforce brings different perspectives and ideas to the table. This leads to more innovative solutions and better decision-making.
  2. Helps attract and retain diverse talent. This improves productivity and morale.
  3. Pharma companies better understand and serve diverse patient populations. This leads to better health outcomes and increased patient satisfaction.

In summary: Diversity, equity, and inclusion increase the diversity of trial participants and reduce barriers for patients wishing to participate in clinical trials.[1][2][3][4][5].

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