Many pharmaceutical companies are reconsidering their business models. Difficulties that pharmaceutical companies face today include payors tightening up on cost management, strained government healthcare budgets, the need to understand and adopt new technologies, and challenges to their traditional pricing mechanisms by empowered stakeholders, from patients to payors. Compounding the external obstacles, however, is the internal culture of most pharma companies.
It is time for pharmaceutical companies to restructure their operating models in a way that brings all of these interdependent functions together. To accomplish this goal, they should build the organization around what we call critical teams. These teams should be directly responsible for gathering information, developing insights, and drawing up strategic plans about the facets of the pharmaceutical business that are often overlooked in the formal organizational structure.
This report offers a detailed framework for implementing a successful critical team strategy. It provides an analysis of the pharmaceutical landscape through the lens of a critical team activity, allowing management to reflect on how connected and effective the company’s current critical team is and how the organization can improve its capabilities by fully leveraging its team.
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