Pharmaceuticals and life sciences companies are experiencing a wave of competing challenges as part of what could be called the New Health Economy. They include consolidation among providers, especially hospitals, intended to produce efficiency gains; the changing demands and expectations of patients, who seek a greater role in their own care; increasing cost pressures from payors leading to calls for pricing reform; and the declining autonomy of the individual physician as rule-based, protocol-driven care becomes ascendant. The resulting healthcare system will focus increasingly on paying for the value rather than the volume of medical care; in other words, it will be a more consumer-facing industry.
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