Posted by Manish Tandon (View Profile | View All Posts) at 12:33 PM
The world was awestruck when, about 20 years ago, General Motors unveiled its OnStar system in its Cadillacs. The service connected the driver via a Global Positioning System (GPS) satellite to a live OnStar agent with the press of a button. The driver could also speak to the agent with two hands on the steering wheel because the conversation was conducted over in-car speakers and a dashboard microphone. OnStar could also sense if your car had been in an accident and immediately call for an emergency medical response team to be sent to the site of the crash. And, of course, it could remotely unlock your car door if you left the keys inside. The technology was known as telematics, and it was heralded as the future of the luxury car.
Today, GM has moved OnStar beyond just Cadillac to all of its models as an option. If you think back to how different the world was in those days - the Internet was still gaining traction among mainstream consumers. But with the passage of time, OnStar became less relevant because the services it offered in the mid-1990s are now easily accessed on a smartphone. The death-knell of telematics, right?
Continue reading "Telematics Makes a Comeback"»
Posted by Manish Tandon (View Profile | View All Posts) at 10:43 AM
Given that insurance is all about risk and innovation is inherently a 'risky' process, it is no wonder that insurance companies are struggling with innovation. The magical ingredient that can really help insurance companies overcome this interesting dichotomy is data. We all know how insurance companies love their structured data, their rating tables, their statistical analysis...yet all this is post facto data, which at best is a mirror to history. With the proliferation of data sources (both structured and unstructured) and the impending revolution that is the Internet of Things (IOT) ... the best is yet to come.
I believe that the innovative use of data can really help insurance companies innovate in an area that is most critical to them: risk identification (which leads to new product development). What if insurance companies could predict their customers' insurance needs and offer tailored products and services? What if they could bring the 'power of one' to insurance underwriting?
Continue reading "Risky Business: Risk Identification In Insurance " »
Posted by Manish Tandon (View Profile | View All Posts) at 4:48 AM
Some industries thrive on the benefits of consumerization. Retail is one of them. Designers might show off their creations in glitzy fashion shows, but fashion is also a by-product of what the consumers want to wear. Retailers excel in tapping into the consumer zeitgeist.
Then there are the life sciences industries, which encompass healthcare, pharmaceuticals, biotechnology, and even insurance. For decades, for centuries even, many companies in these industries did not act on the demands of the consumer. Instead, they dictated what drugs to take, what operations to undergo, and what insurance policies were best for them. But the tide has turned, now that we live in the digital age. It has become increasingly important for these industries to focus across the value chain and tap into market synergies. New synergies via information technology and digital devices are forcing the healthcare, pharma, and insurance industries to converge. When your job is to scrutinize and study the evolution of life sciences, it's exciting to see how this is taking shape.
Continue reading "Bringing Together Care, Cure and Cover" »
Posted by Manish Tandon (View Profile | View All Posts) at 9:07 AM
Father Helps Son With Diabetes, Develops 'Bionic Pancreas'
The movie Tomorrowland is getting mixed reviews. Some critics say that despite its spectacular special effects, it lacks a coherent storyline. Others have a different take. One critic writes that: "Tomorrowland delivers a loud and clear message of hope for humanity, which is a welcome thing to hear at any point in time."
Well that is good news - especially for those of us in the business of innovation. There's nothing more satisfying for me than to help solve the challenges facing the world from the perspective of the life sciences. That's because the assorted life science industries - everything from Big Pharma and biotech to healthcare - are undergoing a tremendous and exciting evolution. Because of the power of Big Data, they're consolidating into one, massive force for good.
Continue reading "Tomorrowland's Message For Life Sciences" »
Posted by Manish Tandon (View Profile | View All Posts) at 7:42 AM
Rethinking the business of publishing
Drawing parallels between the modern pharmaceutical and book publishing businesses is extremely tempting. If you're a book agent at one of the few, big publishing firms that remain, your duties are not unlike that of an R&D chief in Big Pharma. That is, you're looking for only one or two blockbuster products (in this case, books) every year.
In the rarified world of book publishing, your success depends on finding literary Solvadi. That's because in both industries, it's a numbers game. The company wants one or two hugely successful products on its hands so that marketing, distribution, and every other administrative task are focused on as few products as possible. The company isn't spread thin promoting an extremely specialized drug or a book of offbeat poems that might be read by 100 people. They want widespread commercial appeal.
Continue reading "Publishing Sector Blazes A New Tech Trail" »
Posted by Manish Tandon (View Profile | View All Posts) at 4:28 AM
The pharmaceutical research and development (R&D) process has many complex layers. Most of these layers go beyond the drug development process itself. We are talking about logistics, the compliance process, and the distribution network. Caught up in this maze, pharmaceutical companies often end up focusing on these processes, instead of the job at hand: developing effective drugs to make people healthy.
From my conversations with industry insiders, I've come to realize that the immediate cause for concern is really - managing the clinical trials process. Clinical trials is the part of the drug development process that has, in recent years, been outsourced to a batch of enterprises (Clinical Research Organizations) that specialize in dealing with the complexities. There are so many facets of the trial that keeping the cost of the processes down to make the drug commercially viable has become a huge challenge.
Continue reading "The Way Ahead: Simplify Clinical Trials" »
Posted by Manish Tandon (View Profile | View All Posts) at 6:18 AM
Healthcare Technology Outlook 2020 Technology uptake [Source: http://www.youtube.com/watch?v=8J6-W38YuU4]
Medicine has advanced to the point where the world's average age expectancy is steadily on the rise. For all that quantity, however, there remains the issue of quality. Lots of people are living long lives - far longer than, say, a century ago - yet instead of receiving cures to conditions, they're requiring a staggering amount of sustained and constant treatment while doing so.
That's where the right Information Technology comes in. The healthcare industry won't be able to continue making the same kind of gains it's made in the last 50 years. Without the right IT, the healthcare industry also won't be able to narrow the gap between simply extending lifespans and improving the quality of those lives.
Continue reading "A Healthy Dose of IT" »
Posted by Manish Tandon (View Profile | View All Posts) at 5:31 AM
Business lore has it that the LED might never have been invented had a Japanese corporation not pulled the plug on a blue light-emitting diode project. This only steeled the resolve of genius innovator Shuji Nakamura who secretly persisted, despite budgetary obstacles and laboratory explosions.
Continue reading "Testing Times Need More than Time-Tested Actions " »
Posted by Manish Tandon (View Profile | View All Posts) at 11:16 AM
As I booked tickets on my phone for an evening out at the movies, I marveled at how things had changed over the past couple of decades. (No, I'm not talking about the price of tickets, although that alarms me as well!). In a country of 1.2 billion, where 15 years ago even getting a regular phone was a luxury, here I was buying movie tickets on my mobile phone!!!
Continue reading "Please listen carefully. (Your menu options have changed)" »