IBM's Reinvention Should Inspire Flat Pharma Businesses

Update: Since the original publication, major developments have happened enabling the scenarios outlined in this article. Those updates have been highlighted below. In addition, I have included a Prezi on Patient Relationship Management in response to disruptions in healthcare/pharma. The Prezi was created in response to this article as CEOs and senior executives at some of the largest pharma companies in the world. Despite recognizing the threat to their business, remarkably, only a couple have taken any meaningful action.

The pharmaceutical giants look remarkably similar to the IBM of the late 80′s and early 90′s. For those of us who remember the IBM of that era, this is bad news. They can continue the path of the railroad industry early in the 20th century. Alternatively, they can look to the path IBM took when its future prospects were grim. Remarkably, IBM demonstrated how it’s possible for a large company to shift from a product-centric culture to a customer and service centered company. The handwriting is on the wall for pharma companies: They will succeed or fail based not on how many drugs they sell, but on how well their offerings improve health outcomes...

...Do pharmaceutical companies see themselves in the drug business or the disease management business? Or, where possible, in the disease prevention business? These are the key questions that will determine whether they will survive and thrive. Many of these diseases lend themselves to the use applications (mobile & web) or biometric devices. This is going to drive a greatly expanded focus on non-traditional partnerships....