The healthcare industry is being pressured to deliver better services to patients. The IT solutions provided by Rend Tech Associates include cloud computing to securely store all important patient data in digital format. Due to the nature of cloud computing, data is available through the mobile device of authorized staff and stakeholders.
A partnership was formed between French-based Sanofi and Google so that the pharmaceutical giant can use Google’s Artificial Intelligence (AI) and cloud computing tools in its new Innovation Lab. The partnership has three goals: to speed drug discovery, to maximize operational flows and to improve the experience of patients.
Pharmaceutical giants are scrambling to get hold of AI because it can streamline complex and costly processes. Recently, Elli Lilly struck a $560 million deal with Atomwise, a San Francisco-based AI developer in order to accelerate drug discovery. Astra Zeneca also tied up with UK-based Benevolent AI to make drug development more efficient.
The increased demand for AI among pharmaceutical companies has opened the doors for tech player to enter the health space. Big names in technology innovations have forged deals with pharmaceutical companies. For example, Verily has linked up with Novartis, Sanofi, Otsuka and Pfizer to streamline clinical trials. IBM Watson has partnered with Sanofi, Johnson & Johnson and Pfizer for the drug discovery program.
More pharmaceutical companies are expected to turn to digital health tech in order to ease the strains on their revenue due to government scrutiny. Pharmaceutical companies are feeling the pressure to invest on technology because the government wants transparency and slim drug price tags.
HHS introduced a rule last month to force pharmaceutical companies to list the prices of their drugs on TV advertisements by July. Companies are certainly feeling the heat. They are investing more money into lobbying efforts. 2018 was the highest spending year for lobbying with drug makers doling out $70 million.
It is no secret that patient numbers are overwhelming with the ageing population and medical innovations. Hospital staff faces a considerable amount of data that they have to sift through. A solution offered by Rend Tech Associates is the implementation of cloud-based digital technologies that make sure that data is analyzed into information in a secure manner.