Behavioural Change is Key to Success for Life Science Companies, Ernst & Young Report Finds

March 15, 2012 – 5:36 pm

A new report by Ernst & Young declares that every company engaged in healthcare soon will need to enter the behavioural change business. The report is titled “Progressions: The third place: health care everywhere.” It is the first one in the Progressions series of reports that focuses not only on the pharmaceutical industry, but the whole life sciences industry.

Companies will need to focus on how to improve health outcomes by changing patients’ behaviour, the report states. The reason is the current crisis of healthcare and the need to bring costs under control. Providers, patients and society share an interest in a focus on and incentives for healthy behaviour. The other reason is that patients are actively taking charge of their own health, empowered by smart phones, social media and other tools. As a result, health care is becoming more patient-centric. Adapting to these trends will be essential for success, according to the report, and companies need to act quickly in order to beat the competition. They can start by using behavioural economics to develop patient-centric and customised treatments.

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