Unlocking the Power of Digital Transformation in Health & Pharma

...and how to avoid the cost of failure (with an average $7.2M project cost)

In Health & Pharma, impactful digital transformation remains a complex endeavor, further complicated by evolving therapeutic technologies and escalating patient expectations.

Our latest report, 'Unlocking the Power of Digital Transformation in Health & Pharma,' offers real-world insights drawn from a comprehensive survey of health and pharmaceutical business leaders in the US, UK, China, Brazil, Mexico, India, Germany and Netherlands, alongside expertise from VML specialists. This extensive analysis illuminates the critical challenges and successful strategies for navigating digital transformation within the health and pharma sectors.

With key actions underpinning all transformation areas under our lens, we address:

The leading factors for failure and how to avert them
The key reasons why third parties are needed at each transformation stage - and the skills being sought
AI - the #1 technology in demand today that's motivating 70% of transformers to redefine their strategies
Why cloud tech has changed the game for many transforming businesses
Why people are just as vital to transformation success as technology
The crucial factor of unlocking siloed assets and operations

Too many digital transformations fail - but AI and other tech advances are driving better outcomes:

34%

of Health & Pharma digital transformation projects fail. A strike rate of just over 1 in 3 is not nearly good enough.

$7.2M

is the average cost for a digital transformation project or targeted initiative in Health & Pharma.

70%

of transformers say AI has inspired them to revisit their transformation strategies.

Organizations are reliant on third parties to drive their transformations, but should get their house in order first:

84%

of Health & Pharma businesses are working with third-party partners on their transformation programs. The most demanded skill? AI.

64%

of Health & Pharma digital transformation projects start without a clear roadmap or end goal.

84%

agree that Health & Pharma digital transformation is as much about people as new tech. Too often the human element is overlooked.

Introduced by Jason Reese

The report foreword is by Jason Reese, Global Chief Transformation Officer, VML Health. Jason's focus is bringing world-class creative, consulting, and technology capabilities to healthcare in support of transformative business growth and innovation, health equity, and improved health outcomes.

With nearly 20 years of experience driving business transformation through data and technology, he develops, implements, and drives strategies, products, and business plans as an execution partner with organizations focused on measurable outcomes; able to ensure high-quality execution and continuous feedback on Go-to-Market strategy effectiveness.

Jason's experience across the breadth of stakeholders in the healthcare ecosystem brings a perspective that is rooted in collaboration, leveraging best-of-breed approaches for partnership, information sharing, and community engagement with a consistent north star - the patient.