Life Science companies face huge costs, time constraints and rigorous regulatory requirements when bringing products to market.
The Life Sciences industry today faces significant challenges getting quality materials to market quickly in order to remain competitive in the marketplace. Time consuming medical-legal review process, complex workflows, version control of assets across brands, therapeutic areas and geographic challenges present significant costs to both time and resources.
Resolving these challenges provides value to organizations.
Still, due to the number of areas to address, a resolution seems daunting. The medical-legal review process is cyclical and regulated by varying governments. In addition, regulations change frequently, third-parties often complicate access to materials, and the end-to-end workflow requires many touch points. These combined factors create process bottlenecks and potential compliance risks. Increased budget pressures require that these challenges be addressed.
Managing these materials has proven challenging and costly.
With the demands of new marketing channels, increased product competition and the desire for shared product or therapeutic information, organizations need to ensure accurate and relevant materials are reaching the healthcare industry as quickly as possible.
The reality is, Life Science marketing materials require accurate claims, backed by verifiable and approved references. Managing references in materials is time consuming, as references need to be linked, tracked and updated per document, with many documents requiring multiple links. This is a resource intensive and time consuming task when centrally managed. In addition:
The evolution of digital technology has moved marketing from a simple paper based solution to broadly used materials across multiple channels and devices.
Today, organizations invest large amounts of time, money and resources to avoid risk through a thorough, but cumbersome, medical-legal review process.
Revising materials due to review board recommendations, regulation changes, or expanded marketing campaigns, requires a team of resources, collaborating through the design, development, completion and distribution.
Navigating Content Success
An effective, sustainable content management system, paired with a solid organizational and process strategy, is the key to simplifying the management of promotional materials.
Implementing solutions for managing, harvesting and protecting information assets and promotional content is paramount. Here are some examples of critical actions:
New implementations and migrations from legacy systems.
Analyzing current process workflow and technical capabilities.
Developing business solution strategies for a streamlined process.
Conceptualizing technical enablement options.
Leveraging electronic content management solutions delivered in the cloud.
Assessing and selecting vendors which best meet the business process and organization structure.
Optimizing key expertise during construction and digital enablement.
Delivering value by optimizing your processes, eliminating bottlenecks and reducing errors and costs.
Good News:Combining the right technology with a refined business process and strategy will enable the technology to work for the business. The combination needs to be adaptable to compliance changes, easily maintained and responsive. Additionally, the ability to share content and manage references and claims, through the right processes and technology, helps define the path to simplification and savings.
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Kyle Waldowski, a Director with Paragon’s Life Sciences Commercial Practice, develops engagements to deliver client success in Patient Services, Market Access, Information Management, and Sales and Marketing. Kyle brings over 15 years of life sciences experience to Paragon, most recently from IMS Health where he led the launch of a new analytics portal for pharmaceutical sales data, disease forecasting, competitive intelligence, and longitudinal patient studies. He also worked for a digital agency designing custom solutions that enabled clients to generate awareness through new media, better-engage with target audiences, and measure the effectiveness of multichannel marketing campaigns. Kyle holds a BS in Marketing with a minor in Economics from Bloomsburg University.