Big Pharma and Big Tech – Challenges and Opportunities Part 2
The healthcare industry faces an increasingly competitive situation, especially between Big Pharma and Big Tech. We have just argued, that both sides would benefit from a more collaborative approach. Now, we will show what such a collaboration could look like.
Insight in brief
- What makes BigTech different from BigPhama?
- Why do BigTech and BigPharma have to work together to be successful?
- What is important for a successful collaboration?
Big Pharma starts with the basement and then builds walls to get a stable and reliable skeleton. From there, the details which are needed but not affecting stability – like windows and doors – would be added. Big Tech on the other hand is not bound to physics and starts with a window because the view is a high-priority asset. After they have checked if the window provides a scenic lake-view, they proceed to build the walls around that main feature.
These different ways of thinking are rooted so deeply in our brains that it is very difficult to understand how the other side works. But how to solve this issue?
Three simple rules for multi-disciplinary projects
1. Use every possibility to explain your world. Get as visual as possible.
During meetings, in the coffee corner or at the social event – show your colleagues how your world works, for instance with simple drawings on the wall or on a napkin.
2. Speak up if something will not work in your world.
Your teammates from the other world cannot know about the experiences you have made in your world. It is important to tell people why you think that something is a stupid idea.
3. Find a balance between “think before you act” and “build, measure, learn”.
Both approaches have advantages and disadvantages. If you are from Big Pharma, it might be worth rethinking your quality systems because maybe they can get a bit more flexible. If you are from Big Tech, then you should think about how to fulfil the regulatory requirements without losing your agility.
At Zühlke, we strongly believe that the tremendous complexity of state-of-the-art digital health solutions can only be tackled by combining the best ideas and skills from Big Pharma and Big Tech.
We are convinced that this collaboration will lead to revolutionary solutions that are beneficial for the health of all humans.
It is not about the competition between Big Pharma and Big Tech in a limited market – it is about jointly creating a new market that has more than enough potential for both sides.