Industry Changes Demand New Corporate StrategiesFri, 07/19/2019 - 12:54
Q: How is KPMG helping its clients navigate the challenges and trends in the health industry?
IG: KPMG in Mexico has a global network of advisers and success stories around the world that supports organizations. We can provide information and consulting on best practices that have led to strengthening health systems worldwide. KPMG in Mexico has generated solutions that help in terms of strategies, compliance, administrative-legal issues and advice on analytical data models to streamline supply chain processes.
FA: Another important issue for the health sector is pharmacovigilance, which is in the process of changing due to the new structure for consolidated purchases. Players in the pharmaceutical sector will have to redefine their roles to ensure that medicinal safety is not affected.
Q: How does KPMG support its customers in the process of launching new products?
IG: KPMG assesses the company’s situation, analyzes the population that it is planning to reach and understands the public policy contexts, trade risks and corporate goals. Afterward, a detailed analysis on the available products in the market and the organization’s own portfolio is performed, highlighting how the new product will compete against similar solutions in terms of price. Over several sessions, KPMG and the company define an access and commercial strategy for the product, considering the technical, scientific, corporate, marketing and legal aspects that surround its release. In the end, we deliver a report that companies can use to effectively communicate the value proposition of the new product.
Q: What are the challenges and opportunities that KPMG sees for companies in the healthcare sector?
FA: The country’s epidemiological transition allows us to know which diseases are more prevalent and those that are increasing in incidence. This will continue to be an important factor in the state of public health. Although it is unfortunate that there is a prevalence of such complex diseases in Mexico, this opens the door for the pharmaceutical sector to develop increasingly innovative therapies that improve people’s quality of life. We see an opportunity to improve hospitals and clinics that already have a staff, equipment and facilities of the highest quality. Opportunities will increase as different sectors generate incentives to attract investment. KPMG sees the greatest growth potential in the hospital sector, especially with the boom in medical tourism.
IG: The insurance sector is another area of opportunity for the health industry. In conversations with KPMG, some companies have emphasized the need to generate more efficient and transparent payment models regarding hospital services and competitive fees with other providers such as laboratories. Considering that health expenditures are on the rise, the insurance sector will continue to be a key element to guarantee access to health services in Mexico. We believe that in the coming years, insurance will become a priority sector and a source of great investment attraction.
Q: What are your views on the development of the pharmaceutical and medical devices sectors?
IG: Previously, sales in the pharmaceutical industry were managed by distributors but companies must now think about having direct contact with the government. Meanwhile, data analysis within supply chain operations is becoming a key competitive tool in a pharmaceutical company’s ability to determine which products should be released to the market. It has become increasingly important for pharmaceutical companies to know what, where and when to sell to address patients’ needs.
FA: Regarding medical and pharmaceutical devices, it is vital for companies to have executives who are capable of interacting with different players in the health sector. Companies need professionals who know the technical, commercial and scientific language and who have the ability to generate advertising with both private and public parties.