Question

Write an explanatory note on the impact that the external environment is likely to have on pharmacy companies. Assuming the impact that you assess, suggest what internal organization design changes these companies would need to make in the coming two to three years.

Answer 1

The impact of the external environment is likely to have on the pharmacy companies and are as follows:

1. patient empowerment- patients are becoming more educated and aware and the days are gone when patients used to visit doctors for remedy of an ailment. Patients now can access information online and can gain the necessary knowledge regarding the treatment options available. This has resulted in doctors and pharma companies lose their grip on the patients.

2. Digital healthcare- the health industry has revolutionized with the advancement in the automation in the surgical processes, medical process and biopharmaceuticals. The new and innovative concept of EHR and EMR has transformed the ways healthcare professionals handle patients. Healthcare industry has started to use the data analytics.

The internal organization design changes these companies would need to make in the coming two to three years are as follows:

1. The pharma industry can emphasize the patient first model that will be able to engage with the patients in an effective manner. The patient engagement will result in regulatory and commercial success and it will be based on the needs of the patients.

2. The pharma companies can emphasize on designing and manufacturing products that can track health data through the wearable devices and health sensors. The pharma companies can also diversify its product lineup so that it can grab the market of the wearables that monitor healthcare data.

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