Banking leaders are making bold decisions and reinventing their companies to align with a strategic view of customer service. In doing so, they are improving processes and business models, exploiting innovative technologies and collaborations, and recognizing greater value in risk.

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Life sciences industry success:
Build, transform and protect
value into 2020
The Future of Growth and the Life Sciences Industry

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Transformation is vital to survive and grow
Health care's share of GDP is expected to grow
from 17.5% in 2015 to 20.1% in 2025
• Massive and rapid change makes transformation necessary.
• Consumer services and engagement create transformative value.

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Transformation is achieved through innovation
Transformed life sciences companies will:
• Identify opportunities and have processes for acting quickly
• Collaborate within the company and with others to reshape the business
• Use technology to gain insights into patient behaviors and needs

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Culture and processes
Technology
Innovate in critical areas
What areas are of the most interest for
your future and growth strategies?
39% Improvement and
innovation of
internal processes
Source: Grant Thornton poll of life sciences executives
29% Technology risks

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Research design-thinking concepts for innovation best
practices, and consult professionals about alternatives.
– Lisa Walkush, National Leader, Grant Thornton Life Sciences Practice
"Carve out space for creative thinking," and collect ideas
from across the company. Budget for new ideas that might
surface beyond initial planning.
– Eric Meade, Futurist and Whole Mind Strategy Group Founder
Use a continuous loop of feedback from users, staff
and manufacturers to reduce complexity and drive
efficiency to create and improve products and services.
– George Serafin, Principal, Grant Thornton Compliance Risk Practice
Innovate culture and processes
GET THE REPORT
Reignite Growth in Life Sciences
Transform your business
through culture, processes
and technology

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Using predictive and prescriptive analytics,
and technology such as telehealth tools
and wearable devices, revolutionizes
identifying and addressing patient needs.
Life sciences companies can work with
health care providers to ensure
functionality by sharing perspectives,
priorities, issues and solutions.
Innovate collaborative use of technology
Example: A direct connection from wearable
and implanted devices to EHRs would
relieve hand-transcribing.
Providers recognize the benefits of
accuracy, efficiency, access, cost and
patient experience.
Life sciences companies recognize the
benefits of device quality feedback, cost and
customer experience.

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Innovate…collaborate…transform
Leaders eager to learn from those within and beyond their
company, and from windows opened by technology, will
help to create a beneficial and profitable future.
READ THE REPORT
Reignite Growth in Life Sciences
Transform your business by
learning more from people
and technology

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Learn more
about the future of growth in the life sciences industry
Reignite Growth in
Life Sciences
The Future of Growth and the
Life Sciences Industry
Watch the webcastRead the report

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Lisa Walkush
National Leader
Life Sciences Practice
T +1 215 814 4000
E lisa.walkush@us.gt.com
George Serafin
Principal
Compliance Risk
T +1 732 516 5580
E george.serafin@us.gt.com
Like further information?
Contact our professionals

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