1.) Design an IS Strategy for the first 5 years of a Healthcare/Pharmaceutical
Products Based Startup
As a startup company we should have a proper understanding what to be included in a design
of an IS strategy of a Healthcare/Pharmaceutical product-based company.
1.) Initial step is to define a Vision for the company.
The most important component of any IT strategy is vision; if you don’t know where you are
going, how can you ever get there? We as leaders, needs to come up with a vision that outlines
where the organization is needed to go and, where it aspires to reach with respect to IT, and
what measures the company must take to get there.
As a Healthcare/Pharmaceutical product-based company, we do not want to get into the
service-related operations. This should be mentioned in the IS Strategy clearly.
Vision – “Need to become the number one global product-based company in the Healthcare
Sector”
2.) Build a Roadmap for IT Strategy
Once the vision has been well-defined, a strong roadmap needs to be built that is outlined by
what we have come up with. The IT roadmap will design the steps the startup has to take in
order to drive more value from IT, stay ahead of trends, and achieve competitive advantage
while improving customer experience all along the way.
Therefore, the IT strategy should be design for the first 5 years of the company. The products
should be developed by based on existing technologies and new research.
But all the new innovations must be specially should be supportive to the humans and those
innovations or new products should not be harmful for the public.
3.) Give full awareness about the IS Strategy for everyone
IS strategy cannot be successful unless all the staff members have not full understanding of
the emerging technologies and their potential to impact the organization. Being aware of the
latest technological innovations and having a tech-driven mindset will go a long way in ensuring
the success of the IT organization.
Therefore, the group of people who initiate the startup company and all the people recruiting
should know the IS strategy. And it should be clearly documented, and the staff should agree
with the IS strategy.
4.) Need to recruit or join with the people who interested with the business, technology,
and innovations
An IS strategy is only as good as the people entrusted with bringing it to life. For any IT strategy
to be successful, it is important for people from every department to list down their IT
requirements, and ensure they are incorporated into the strategy. It is through their inputs that
organizations can really achieve the IT goals it has set out to achieve.
It is very difficult to begin and continue a startup company for a company in a sector like
Healthcare. Therefore, we must join with the people with the same interest and those who like
to work in a company that is helping the betterment of the public. Also, they must be very
innovative and should know the technology well.
5.) Financial Calculation
IS strategy cannot be completed without knowing what funds the startup has, and what funds it
would need to get where it’s going.
Based on the future plans, we have to come up with a financial assessment of IS systems and
processes. Therefore, we can advance much greater control over the startup company’s
performance. The investments, the outflows, etc of the company also should be properly noted
and communicated with the relevant stakeholders.
2.) 3 Technologies for our IS Strategy
1.) Nano Technology
Applications for nanotechnology in medicine include imaging, diagnosis, or the delivery of drugs
that will help medical professionals treat various diseases. In addition to targeted delivery of
therapeutics, nanotechnology can also be used to release drugs in a controlled manner.
How will nanotechnology help detect pathogens and poisons?
The tiny chip pictured here contains 64 nanosensors that can detect very small amounts of
harmful gases. It is designed to plug into a cell phone and use very little power. Scientists are also
developing sensors to detect things like moisture levels in agriculture and diseases in food crops.
Thanks to their small size and adaptability, nanotechnology-enabled sensors like these will help
protect fire fighters, soldiers, and our food supply.
Photo courtesy of NASA Ames/Dominic Hart
How will nanotechnology improve health care?
Nanotechnology is already leading to dramatic improvements in health care. Scientists are using
nanoparticles to target tumors, in drug delivery systems, and to improve medical imaging. Some
nanoparticle-based treatments are multi-functional; they can both find tumors and carry drugs
for treatment. Nanotechnology is also being used to cut the cost and increase the speed of DNA
sequencing and to provide scaffolding for tissue regeneration or wound treatment.
How is the safety of nanomaterials being investigated?
Responsible development of nanotechnology, including understanding the potential impacts of
nanomaterials on the environment and our health, is one of four goals of the National
Nanotechnology Initiative. Scientists are investigating the effects of nanomaterials on animal
cells and tissues, as well as in plants like soy beans. They are also creating guidelines to make sure
we can all safely benefit from nanotechnology.
Photo courtesy of Laurie C. Van De Werfhorst, UCSB
How Pharmaceutical Companies use Nanotechnologies?
2.) Big Data
The big-data opportunity is especially compelling in complex business environments experiencing
an explosion in the types and volumes of available data. In the health-care and pharmaceutical
industries, data growth is generated from several sources, including the R&D process itself,
retailers, patients, and caregivers. Effectively utilizing these data will help pharmaceutical
companies better identify new potential drug candidates and develop them into effective,
approved and reimbursed medicines more quickly.
3 main reasons to apply big data technologies in healthcare
1. An improvement in health leads to economic growth through long-term gains in human
and physical capital, which ultimately raises productivity and per capita GDP.
2. Healthcare accounts for 10% of the EU’s GDP continuously becoming more expensive
due to a rapidly aging population, rising prevalence of chronic diseases and costly
developments in medical technology.
3. As healthcare is traditionally very conservative with adopting ICT, while big healthcare
data is becoming available, the expected impact of applying big data technologies in
healthcare is enormous.
Imagine a future where the following is possible:
Predictive modeling of biological processes and drugs becomes significantly more
sophisticated and widespread. By leveraging the diversity of available molecular and clinical
data, predictive modeling could help identify new potential-candidate molecules with a
high probability of being successfully developed into drugs that act on biological targets
safely and effectively.
Patients are identified to enroll in clinical trials based on more sources—for example,
social media—than doctors’ visits. Furthermore, the criteria for including patients in a trial
could take significantly more factors (for instance, genetic information) into account to
target specific populations, thereby enabling trials that are smaller, shorter, less expensive,
and more powerful.
Trials are monitored in real time to rapidly identify safety or operational signals requiring
action to avoid significant and potentially costly issues such as adverse events2 and
unnecessary delays.
Instead of rigid data silos that are difficult to exploit, data are captured electronically and
flow easily between functions, for example, discovery and clinical development, as well as
to external partners, for instance, physicians and contract research organizations (CROs).
This easy flow is essential for powering the real-time and predictive analytics that generate
business value.
3.) Cyber Security
Cybersecurity is vital for businesses in every sector today. However, it’s particularly important
for those in the healthcare sector. There are several reasons why businesses in this arena can’t
afford to put off cybersecurity measures and why tomorrow may be too late to do what you
should have already done today. Here’s what you need to know about the importance of
cybersecurity in healthcare.
Cyber attacks can disrupt health professionals’ access to patient data, which could result in
serious medical errors or treatment gaps. If care providers can’t maintain regular business
operations due to information system issues, they also could experience major financial
problems and reputational damage. In one example, a large Maryland health system, MedStar
Health, had to shut down its email and records databases for days during a ransomware attack.
The system was unable to provide essential services such as radiation for cancer patients,
according to TechCrunch.
Information technology (IT) vulnerabilities have increased in the healthcare industry due to the
rapid transition to electronic health records (EHRs) over the past decade. Insufficient spending
on cybersecurity measures and the high black-market value of stolen patient records has made
health providers a big target for hackers, according to TechCrunch. About 75% of health
organizations suffered from a major security incident during 2019, according to a recent survey
from the Healthcare Information and Management Systems Society (HIMSS). Email phishing
attacks, legacy systems, supplier software exposure, inadequate IT staffing, and complacency
with security policies are some of the leading healthcare cybersecurity risks.
References
Nanotechnology in the pharmaceutical industry (tandfonline.com)
Nanotechnology tools in pharmaceutical R&D - ScienceDirect
How big data can revolutionize pharmaceutical R&D | McKinsey
Healthcare Big Data and the Promise of Value-Based Care (nejm.org)
Big Data Project | BigMedilytics | The largest initiative to transform healthcare sector
35903.pdf (iqpc.com)
The Importance Of Cybersecurity In The Healthcare Sector (healthworkscollective.com)
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