AstraZeneca LP [LON: AZN]

Karan Arora is an industry expert in digital health, digital marketing, and the commercialization of digital products and services. At AstraZeneca, he is the Chief Commercial Digital Officer and Global Vice President. Arora previously worked at Abbott, Hospira (now Pfizer), Novartis, McKinsey & Company, and Capgemini. He is an advisor to healthcare/technology startups, member of the Chicago Life Sciences Consortium's leadership committee, a CDL-Oxford Said Business School Associate/Mentor, and a Columbia Business School visiting lecturer on digital health. 

What are some of the significant market challenges you've experienced in the emerging digital health space? 

There has been a massive proliferation of digital health technology, particularly due to the Covid-19 pandemic. The first phase of digital health was more based on "tact," while the stage that followed focused on the value proposition. Needless to say, organizations are becoming more aware of the importance of driving adherence and compliance, intensifying use of  evidence based therapy, and raising disease awareness or educating people about therapies. I believe these changes will significantly contribute to the consolidation of the digital health space in the coming years, focusing on value.  

We've also noticed that the path to digital health commercialization hasn't been easy. Digital therapeutics have recently started to become a component of reimbursement. Still, there hasn't been enough clarification about what evidence is needed for peers to incorporate digital health tech as part of their delivery model or for clinicians to use it in their clinical workflows. There is a lack of clarification from regulatory bodies on what the approval process entails and how to determine whether it is a medical device or not. There has been minimal discussion around the value chain's monetization, who pays for it, how long it will last, and how it will scale. So teams need to spend more time thinking about these elements before they jump in with a technology first mindset.

What are some of the recent trends in healthcare?

In the last 12 months, the use of telemedicine has become more widespread given the fact that patients are unable to visit healthcare facilities due to the pandemic. On the other side of the spectrum, providers are increasingly emphasizing mental health as patients are isolated, with many lacking a proper support system. To this end, digital technologies have proven to be highly beneficial because they offer an array of mental health apps that can provide virtual communities of support and almost real-time intervention from clinicians should they observe escalation in risk. 

Could you please share insights on some of the new initiatives you've led at AstraZeneca?

There are a few areas we have focused on. One, is how we can reach our customers in the right channel, at the right time, with the right content to invoke the appropriate actions. Two, is  looking at partnerships to get patients diagnosed at home, have proper conversations with their primary care physicians, and seek services that fit their needs. 

Three, is finding ways to treat patients appropriately and help clinicians put them on the right therapy at the right time. For this, we are looking into remote monitoring solutions, patient data within digital health platforms, and support programs. The fourth one is around the value in connecting digital the rapeutics with the existing products that help patients get better outcomes.

 What do you think this space's future will be in the next 24 months regarding all the possible disruption and transfer vision?

In the future, I expect to see three things. First, is more collaboration in the digital health space, resulting in significant consolidation. Second, is having more clarity around the value model—how to sustain them, how are these solutions are paid for in the marketplace, who is the buyer, and where is the value originated. Finally, you will see pharma build stronger partnerships and internal capabilities to advance its digital health agenda.

What advice do you have to offer to your peers in the industry?

Avoid starting with technology. You should spend time thinking about your customers’ problems, the benefits of solving them, and how you scale. And after you've given this enough consideration and gone through those two checkpoints, that's when you start analyzing technology and not vice versa.