On May 25th 2023, the HealthXL community convened in Cambridge, Boston. In collaboration with Takeda, HealthXL organised its second Global Gathering of the year around the theme of Pharma 3.0: The Next Frontier of Digital Health. 

The event gathered senior leaders from across the pharmaceutical, MedTech and digital health industries, as well as investors and academics. The agenda included a panel discussion, roundtables/working groups and keynotes from Ramita Tandon (Chief Clinical Trials Officer, Walgreens), Owen McCarthy (President & Co-Founder, MedRhythms, Inc.), Lesley Solomon (Venture Chair, Redesign Health) and Dr. Ami Bhatt (Chief Innovation Officer, American College of Cardiology).

The group spent the majority of the day discussing the way forward for digital health in pharma amidst a climate of economic uncertainty. Across eight working groups, the Global Gathering attendees tackled a series of key questions focused on a framework for better digital health. The following are the key highlights from the working groups:

• The next iteration of digital health in pharma will need to transcend the siloed place that ‘digital health’ continues to occupy in the pharmaceutical industry. Experts contend that over the next few years pharma needs to fully embrace digital health innovation and integrate it into the entirety of the value chain.

• The working groups seemed to converge around the idea that digital health in pharma will largely remain tied to the core business model. Nonetheless, there is an important role for ‘pureplay innovations’. The latter can only be realised once pharma has gained a better clarity on where to play and where it should or cannot not. 

• The starting point for any digital health intervention should focus on the inefficiency or problem at hand. Some participants felt that the decision to add technology into the mix needs to be considered and should follow a careful calculation of: Nice-to-have Vs Necessity.

• Pharma will need to be clear on the biggest pain points it is trying to solve. Participants agreed that if initiatives can demonstrate evidence and proof of utility/engagement, then pharma will invest aggressively.

• While many participants acknowledged that ROI is the long game with digital health; ROI must nonetheless be demonstrated to secure additional funding. Some participants felt that ultimately, the core business will need to put ‘some skin in the game’ such that it ensures that a new division or innovation is not perceived as a threat.

• Many working groups agreed that the buy/partner approach was probably the preferred route for pharma at this present moment in time. In fact, many participants urged their peers not to build solutions themselves.

The discussions concluded that digital health in pharma is evolving and that it has to evolve. Healthcare transformation takes time and pharma companies have a pivotal role in driving innovation. Learnings have been made and pharma is igniting change to do better. Join our next Global Gathering in Sweden on 14 Sept.