Making the transition will be far from easy, requiring concurrent changes in strategy, structure, and culture. Of these three, culture change is likely to present the greatest challenge to pharmaceutical companies.
Los Angeles, CA (PRWEB) April 29, 2014
Cultural and leadership challenges and opportunities for pharmaceutical companies as they feel their way towards a radical new patient-centric business model are examined in a new thought paper published by Heidrick & Struggles International, Inc., the premier provider of Executive Search, Culture Shaping and Leadership Consulting services worldwide, and its culture-shaping firm Senn Delaney.
This patient-centric business model is emerging in response to governments, payers, and healthcare providers rapidly moving toward a health system that focuses on outcomes rather than products and services. A shift of emphasis from products to patients represents a radical departure for the pharma industry. It upends a half-century-old business model based on blockbuster drugs, incremental innovation, and physician preferences, write the authors, Heidrick & Struggles Partner Robert J. Atkins, Principal Lars Ronn, and Nitsa Lallas, Senn Delaney partner and healthcare practice leader.
Continuing pressure on the old model and the business benefits of adopting the new model will accelerate the drive toward patient-centricity, but new strategies and new organizational structures will not be enough, the authors write. Top leaders will not only have to develop innovative patient-centered models, they will also need to achieve enterprise-wide culture change and introduce the new leadership competencies patient-centricity requires, they note.
“Patient-centric” cannot simply be a marketing buzzword. Pharma companies must walk the talk – or else risk reputational damage, the authors caution.
“Making the transition will be far from easy, requiring concurrent changes in strategy, structure, and culture. Of these three, culture change is likely to present the greatest challenge to pharmaceutical companies,” says Nitsa Lallas.
Regardless of the title that patient-centric leaders wear, they will need some specific competencies in five critical areas, notes Heidrick & Struggles Partner Robert J. Atkins. These competencies include: facilitating culture change, relating to external stakeholders, strategic thinking, driving decision making, and monitoring execution.
“Success in these diverse activities requires a demanding combination of business skills, personal attributes, and influencing abilities,” says Atkins. “Together, Heidrick & Struggles and Senn Delaney, collaborating deeply with clients, can deliver the mutually reinforcing advantages of comprehensive culture change and superior talent management that pharmaceutical companies will need on the journey to patient-centricity.”
About Heidrick & Struggles
Heidrick & Struggles is the premier provider of senior-level Executive Search, Culture Shaping and Leadership Consulting services. For 60 years we have focused on quality service and built strong relationships with clients and individuals worldwide. Learn more about Heidrick & Struggles.
About Senn Delaney
A Heidrick & Struggles company, Senn Delaney was founded in 1978 and is widely recognized as the leading international authority and successful practitioner of culture shaping that enhances the spirit and performance of organizations. Learn more about Senn Delaney.