BPM and Healthcare Connections!!
If we quickly glance over the different domains where Business Process Management has been more leveraged and incorporated, the BFSI (Banking, Finance and Insurance) sector is pronounced predominantly and the one that is exploited the most.
The same thing is catching up with Healthcare and Lifescience domain these days. Pharma and Drug companies have started adopting the process driven approach to counteract the business challenges.
The next question that arises is “Whats the Challenge!!”
Well, to answer that, if you would have seen, each time you visit a drug store, there are different brands of the same composition of drug.
Few days back got a Cod-Liver Oil capsule and there were two brands for the same “Merck” and “Sanofi” (the names of the firms are used just for reference). So, the statement taht I want to amke is, sometimes it creates a confusion in the mind of the customer or the patient which one to opt for, or the other way for a doctor which one to suggest.
In simple terms – Its a “Competitive Market” outside.
And when it comes to Pharma and Drug its very risky as it can hit a life of a human for any minor mistake or flaw.
So, in order to drive for a better patient care and providing drugs at reasonable rates, the heathcare organizations have to focus on the clinical excellence process and quality procedures.
To add on, the adherance to the safety guidelines and the compliances laid down by the Governmanet/Country are something that cannot be compromised to gain better benefits.
So in a nut-shell if we see the Business Challenges are ;
- – Operational Cost Reduction
- – Adhering to the Government Compliance laid down by the Regulatory bodies(eg: FDA)
- – Access to some of the reliable patient information
- – Streamlining the process and expediting it with followups
- – Lack of structured Review procedures
- – Reporting and Charting with visual statistics
- – Flexibility to change by the Business
Considering the above loopholes, BPM can definitely play a crucial role in prividing a flexibilit and bridging the gap for maximum efficiency.
Once the journey starts for Healthcare firms (which has already geared up in a full fledged fashion) the benefits of the generic BPM implementation can be leveraged :
- The 4Ms of the BPM can be explored :
- – Modelling
- – Managing
- – Monitoring
- – Measuring
- even the 5th “M” – Media can be used with Social BPM approach
- Transparency and better Visibility of the Process
- Case Management
- Enterprise repository for Document management
- Rules Engine for maintaining business rules
- Rule Delegations
- …and many more features
BPM definitely provides a great platform for managing critical processes, stramlining it and delivering it at ease with a open space for scalability/flexibility.
PegaBPM has also lined up its Industry specific frameworks, to serve the Pharma and healthcare companies and equipped them to face the Business Challenges.
Healthcare Framework : http://www.pega.com/solutions/by-industry/healthcare
Lifesciences Framework : http://www.pega.com/solutions/by-industry/life-sciences
Sometimes I personally feel, the implementations in Banking & Finance sector has been saturated and there is hardly any space not penetrated by BPM. Healthcare and Lifesciences is definitely and great welcome and a nice way to groom the processes in an organized fashion.
Happy Learning!! 🙂