The evolution of life sciences commercial models in the post-covid era

There’s no doubt that COVID-19 has accelerated life sciences commercial models and capabilities.  The pandemic has dramatically changed the way pharma companies operate and think about their organisational strategies. For instance, companies have been forced to become more agile and provide a seamless customer experience. As a result, building digital experiences for customers has become a key focus, as well as creating a strong digital strategy. Companies have had to reassess their models and adapt to the new normal. But, what are key ways COVID-19 has impacted commercial models? Read on to find out more.

Changing perceptions

Previously, life science companies have been slow to adopt remote meetings due to a natural preference for face-to-face meetings, which has been the case for many other industries. However, as remote working has now become the standard, the life sciences sector has become much more accustomed to remote engagement. In the early period of the pandemic, the industry struggled with uncertainty, but now there’s much more confidence in regard to working remotely and in hybrid roles. According to research, 87% of life sciences companies plan to offer hybrid models in the future – which shows that the industry has embraced the changing digital landscape.

New skillsets

There are now greater opportunities for life sciences teams as a result of the shifting landscape. For example, the hybrid model will demand different skill sets for effective medical communication, so sales teams will need to know how to continue to add value while working remotely. As a result of the changing market and more products being introduced, there’s a greater need for complex scientific roles. This means medical science liaison roles will continue to evolve and become more important in the future.

Enhanced health systems

Another one of the key insights for life sciences commercial models as a result of COVID-19 is the improvement of patient engagement and the opportunities for health systems. There’s now a greater reliance on remote consultations, which is more flexible and time-efficient, and it provides a more streamlined experience for patients. Due to the efficiency of remote communication, medical professionals also have more opportunities to better manage their workflows

However, there are still some drawbacks to virtual communication models, such as it being less personal than face-to-face interactions – which to an extent, foster higher quality and more engaging conversations. To achieve a fully-realised health care system, it’s important that pharmaceuticals adopt a hybrid model, in which they utilise both face-to-face and remote meetings with patients. This way, medical professionals will be able to communicate more effectively and achieve maximum results. Overall, post-COVID-19, there will be more opportunities to offer different healthcare services.

The future of patient journeys

Moving forward, as a result of the greater desire for a digital strategy, there will be more opportunities for companies to evolve even further and stand out in the market. This means creating more engaging patient journeys to tackle rare diseases and other areas. The patient journey will no doubt continue to be a key focus in the future as life sciences companies adapt to the digital landscape. Therefore, the industry needs to embrace the evolution that’s taking place and focus on delivering an “omnichannel” strategy for patients – which is about creating seamless and high-quality patient journeys.

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