The commercialization process in the life sciences industry is complex and ever-changing. Pharmaceutical and biotech companies are facing a number of challenges, including rising costs, increasing competition, and regulatory scrutiny. To succeed in this environment, life sciences companies need to be agile and adaptable. Staffing companies can play a key role in helping life sciences companies reshape the commercialization process.
Adaptability, Agility, and Automation Are Essential to the Evolution of Life Sciences
“The pharmaceutical commercialization landscape is becoming increasingly complex,” wrote Leslie Orne, President and Chief Executive Officer of Trinity Life Sciences, in FierceBiotech. “Tried and true paradigms for capturing market share and securing reimbursement must evolve in the face of demand for novel pricing models, challenges in capturing and retaining physicians’ attention in an increasingly crowded marketplace and meeting the needs of patients who are empowered to play a greater role in their health decisions.”
Orne identified three predominant and emerging trends that have the power to reshape the commercialization process.
- The value of taking a phased approach to product launches, which allows companies to gather feedback from early adopters and make necessary adjustments before launching to a wider audience.
- The rapidly expanding potential of artificial intelligence (AI) based technologies that life sciences companies can leverage to improve the efficiency and effectiveness of clinical trials, marketing campaigns, and sales processes.
- The unprecedented degree to which the pricing of pharmaceutical products is under scrutiny, due to a number of factors that include the rising cost of healthcare and the increasing availability of generic drugs.
How Staffing Can Help Life Sciences Adapt to Emerging Trends
The life sciences industry is constantly evolving, and new trends are emerging all the time. Staffing companies can help life sciences companies to adapt to these emerging trends by providing access to talent with the skills and experience necessary to succeed in the new environment.
- The value of taking a phased approach to product launches: Staffing providers can help life sciences companies embrace a phased approach to product launches by providing access to highly skilled workers with experience in early adopter programs and market research. This talent can help companies gather feedback from early adopters and make necessary adjustments before launching to a wider audience.
- The rapidly expanding potential of AI-based technologies: Staffing agencies, particularly those with strong IT capabilities, are already assisting clients in leveraging AI-based technologies by supplying them with candidates who possess deep experience in AI, machine learning, and data science. Tapping into agencies with robust IT pipelines can expedite the integration of AI into life sciences processes, improving the efficiency and effectiveness of their clinical trials, marketing campaigns, and sales processes.
- The unprecedented degree to which the pricing of pharmaceutical products is under scrutiny: Workforce solutions providers can help life sciences companies manage the complex pricing and reimbursement challenges they face with finance and accounting talent who can prove instrumental in developing and implementing pricing and reimbursement strategies that maximize revenue while expanding access for patients.
Workforce Solutions Experts Can Improve All Areas of Life Sciences Commercialization
- Accelerate product development: Staffing companies can help life sciences companies to quickly and efficiently recruit and hire the talent they need to accelerate product development. This can be especially important for companies that are developing new and innovative products that require a highly specialized workforce.
- Improve clinical trial efficiency: Staffing companies can improve the efficiency and effectiveness of clinical trials by providing access to experienced clinical research associates (CRAs), project managers, and other key personnel. CRAs play a vital role in ensuring that clinical trials are conducted ethically and in compliance with all applicable regulations.
- Launch new products successfully: The complexities of launching new products can be alleviated by the provision of experienced sales and marketing professionals. These experts can help companies to develop and execute effective launch strategies that reach and engage target customers.
- Providing access to a flexible workforce: Staffing providers strengthen life sciences processes with a flexible workforce that can be scaled up or down as needed. This is especially helpful for companies that are launching new products or expanding into new markets.
- Improving diversity and inclusion: Diversity, equity, inclusion, and belonging (DEIB) is the hallmark of staffing providers. They have spent decades cultivating diverse candidate networks and multifaceted workforces populated by people from different backgrounds, cultures, skills, perspectives, and ideas. A more inclusive workplace leads to better understanding of the unique needs of life sciences consumers throughout the customer base.
Here are some specific examples of how staffing companies can help life sciences companies to reshape the commercialization process.
- A staffing company can help a pharmaceutical company to quickly and efficiently recruit and hire a team of experienced CRAs to support the launch of a new clinical trial.
- A staffing company can help a biotechnology company to assemble a team of experts to develop and implement a pricing and reimbursement strategy for a new product.
- A staffing company can help a medical device company to build a sales and marketing team to launch a new product to the market.
- A staffing company can help a diagnostic company to scale up its workforce to meet the increased demand for its products during a pandemic.
Partnerships Built for Prosperity
Workforce solutions providers play a valuable role in helping life sciences companies reshape the commercialization process and adapt to emerging trends. By providing access to a pool of experienced and qualified talent, staffing companies can help to:
- Accelerate product development
- Improve clinical trial efficiency
- Launch new products successfully
- Manage complex pricing and reimbursement challenges
- Take a phased approach to product launches
- Leverage AI-based technologies
- Manage pricing and reimbursement challenges
By working with a qualified staffing partner, life sciences companies can gain access to the talent they need to succeed in today's competitive environment.