At the core of supply chain trends in healthcare is a need for quality data so that leaders can make informed, quality decisions. Quality data means accurate data for sourcing and procurement along with normalisation of data for reporting and predictive analytics.
An environment of increasing risks, complex regulations and continuing cost pressures is impeding healthcare executives from moving quickly to seize untapped industry opportunities, according to the 7th annual UPS "Pain in the (Supply) Chain" survey. Globally, healthcare executives are planning for strategic partnerships and technology investment to mitigate risks and capitalize on growth opportunities.
Analyst Insight: The industry finds itself in the eye of a perfect storm. Profits are falling from the patent cliff, pressuring companies to adopt new supply chain value propositions. Regulatory compliance and the Affordable Healthcare Act create process and cost pressure. The cold chain manages the Cs: challenges from complexity, connectivity, compliance and continuum of care. And, above all is the shift from fee-based services to outcome-based care and payment. - Rich Sherman, Principal Essentialist, Trissential
Analyst Insight: If 2012 was the year of climbing the emerging market mountain, then 2013 was the cliff. Not just for patents, but also in succeeding across multiple global markets. Quality issues, bad business practices, failure to integrate acquisitions, these were all common threads. Reputable players stumbled. Lesson learned: focusing on core business is the key to success. Many smaller non-core acquisitions such as animal health, devices, and OTC products will continue to spin off. Emerging and core markets will focus on profitability and smart growth, not just volume. - Brian Hudock, Partner, Tompkins International
Economists working for U.S. businesses are more optimistic about growth this year and see little effect from the start of healthcare reform or the reduction in a key Federal Reserve stimulus program, according to survey results released Monday.