Economic growth is correlated with increasing demand for health care, universal coverage and development of the health care systems, thus creating huge opportunities for companies specialising in medical technologies, such as those from the pharmaceuticals or medical devices industries. Companies in these industries are thriving from this increased demand across the Asia Pacific region, with heightened competition for innovative, cost effective and affordable solutions for patients.
Public health challenges
Governments in the region are facing major public health challenges such as the transition in epidemiology – infectious diseases are still spreading or even emerging, chronic diseases are growing with lifestyle changes and aging. Scarcity of health care professionals, inadequate organisation of health care provision with insufficient primary care and outgrown hospital structures in some countries, geographical and social inequality across territories, as well as excruciating out-of-pocket expenses for patients are also major health care issues plaguing the region.
To become part of the solution and not exacerbate the problem, companies need to be creative not only in terms of developing and launching new products or technologies which can fulfil unmet needs but also when integrating them in the health care pathways of patients. Furthermore, they need to demonstrate the value provided by these new products and services, most importantly for patients, followed by policy makers and payers. To ensure the right medication goes to the right patient at the right time to reap the maximum patient benefit, it is most important not only to supply safe and quality products meeting population needs, but also to train professionals, to educate patients, and to provide medical guides and communication tools during the care delivery process, whilst avoiding conflicts of interest and managing costs.
Demand for talent
This holistic approach to market access is a challenge for companies, as it requires many talents – from biosciences, biostatistics, medical expertise to communication technologies, economics and public policy skills – to be conjugated in the design and commercialisation of integrated services around the core value of a medication treating cancer for instance, or an implantable device addressing cardiac failure. It requires a deep understanding of the specificities of each health care system, not only at the governance level but also at field level, to be able to contextualize the value proposition to best meet the needs of the patient, health care professional and payer.
The MSc in Management of Health Industries, a specialized postgraduate program launched by ESSEC Business School and delivered in Singapore, addresses this change of paradigm thoroughly by providing graduates and executives with the analytic skills to understand the diverse environments of the region, equip them with the technical tools for assessing the value of health technologies or health programs, the management skills to design creative strategies and to implement them in multidisciplinary project teams. Participants of the program will not only bring operational, professional knowledge and skills to their jobs, but also the mindset of embracing and adapting to change which employers crave for.
The author is the Executive Director of the Institute of Health Economics and Management, ESSEC Business School. She served as a civil servant in the French Ministry of Health, before joining a major pharmaceutical company where she initiated the Government Affairs and Health Economics Department. She funded and managed a leading consulting company internationally connected with Europe and the US. She then held a position of Senior Principal at IMS Health Consulting. Her field of competences covers health policy, health technology assessment, pricing and reimbursement, public health programs assessment including disease management and telemedecine.
– See more at: http://www.essec.edu/en/news/bringing-value-patients-better-integrated-care-AP/#sthash.vER59rYO.dpuf
