There was a time when you couldn’t go a pharma minute without hearing the words customer-centric, multichannel engagement, paradigm shift, behavior modification. Today, with the Affordable Care Act, the increasing influence of Accountable Care Organizations, the shift to pay-per-outcomes model, and the ever-changing digital landscape, a slew of new words and phrases are working their way into our lexicon.
Here, fresh off the ePharma 2014 Summit, are the 7 most exciting standouts:
1. Health ecosystem
In Paul Ivans’ opening address he used this earthy-crunchy phrase to describe the current environment we are dealing with. It rightly conveys the interconnectedness, the multiple moving and evolving elements, even the extraordinary aliveness of today’s healthcare dynamic. It’s a phrase so fresh, it has yet to be captured by Wikipedia.
2. Beyond the Pill
In Peter Dannenfelser’s Time Machine presentation, he predicted that software support will soon become so integral to positive outcomes that the FDA will require “pill plus” services to accompany all prescription medications. In this new outcomes-based world, if you’re not thinking beyond the pill, you’re behind the times.
3. Physician extenders
With all the talk of a looming physician shortage, the answer lies with nurse practitioners, physician assistants, and registered nurses. Not only do they enable physicians to work at the top of their license, with their emphasis on prevention, wellness and patient education, these physician extenders may be the key to achieving substantially better patient outcomes.
4. Proactive obsolescence
Although not specific to healthcare, this term has the potential to become a rallying cry for any industry. Lisa Bodell, author of Kill the Company!, described how companies like Shell, BMW, and GE are tearing down the structures, processes, and business models that made them successful in order to rebuild themselves for the future. Better to develop the innovations that will make your old self obsolete than wait for your competitors to do it.
Already spawning a variety of offshoots, including telehealth and telemonitoring, telemedicine is fast becoming the backbone of the new era of healthcare.
When Bill Drummy referred to wearables that enhance health as Healthware, a collective nod rippled through the Marriott Marquis ballroom. Nuff said.
7. Superconvergence of data
For years the term Big Data has been lurking in the shadows like an equally shady relative of Big Brother. However, with the addition of superconvergence, data suddenly becomes purposeful, even heroic. For a good example of superconvergence of data in action, check out Ironwood Pharmaceuticals’ My GI Health. This multidimensional program integrates data from self-directed computer diagnosis, physician interactions, and EHR technology, with various psycho- and bio-markers. Over time, these data streams create an evermore comprehensive picture to enable truly individualized care.
With these few basic evolutions in the lexicon you will keep your pharma conversation sizzling.
Have you heard any unexpected, enlightening, or simply fun-to-say health-related phrases you think should be a part of our collective lexicon?