There is an overwhelming need to embrace the power of data and analytics, as well as digital-engagement techniques. Significant aspects of medical affairs activity need to be updated: for instance, to rethink medical performance management to maximize the impact of medical activities.
Today we see an even clearer case for medical affairs taking on a more strategic leadership role in the face of current technology, economic, and regulatory trends. This offers medical affairs the opportunity to forge a new role as a primary strategic pillar of the organization alongside research and development, as well as commercial and market-access functions. With this in mind, McKinsey has been working closely with industry executives to create a bold vision for the medical-affairs function in 2025: one that embraces these profound changes and consequently seeks to drive positive impact for patients, caregivers, and healthcare professionals by enhancing medical affairs’ strategic focus and optimizing the impact of its activities. This will involve real-world evidence (RWE), electronic medical records (EMR), and novel sources of data, such as genomics in combination with innovative ways of mining and interpreting that data. The winners will be those who succeed in positioning their science-especially their ability to combine, analyze, and interpret disparate data sets-to inform their interactions with stakeholders and ultimately improve patient outcomes. Advanced analytics of patient data have become central to supporting decision making on product use and to demonstrating patient value. Business models are starting to evolve both around and beyond the “product” to encompass the wider therapeutic context, while organizations seek to explain and contextualize the ever-more-complex medical science to a diverse range of stakeholders (physicians, patients, payers). Innovation in both digital technology and the bio sciences is advancing at a furious pace, while the quantity of data generated is skyrocketing. This imperative is accelerating the evolution of medical affairs as the third strategic pillar of the organization alongside R&D and commercial. As innovation transforms the healthcare landscape, science and data are becoming the foundation for pharma to meet its obligations to patients and customers-and realize commercial opportunities.
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