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November 9, 2022

The shark and the goldfish

What should life science companies look out for in the year ahead? What opportunities should industry leaders pursue?
life science challenges and opportunities

As your team looks ahead to 2023, your planning initiatives are likely well underway. Navigating economic and scientific uncertainty and reducing operational friction are top priorities for most pharmaceutical and medical device leaders. Which life science challenges and opportunities will you face in the next 12 months?

life science challenges and opportunities

During Reuters Pharma 2022, pharmaphorum web editor Nicole Raleigh spoke to Within3 CEO Lance Hill following his talk, “Medical affairs takes over: technologies to help unlock the power of insights and gain strategic ground.” Hill discussed the need for modern medical affairs teams to adopt insights management technology for a complete picture of what’s happening in their organizations. Likening the prospect to a “goldfish wearing a shark fin,” Hill explained that while leaning into new technology seems scary, the reality is less intimidating. Catching up after the discussion, Raleigh asked Hill about the comparison. 

What is the shark – the potential danger for life science companies in 2023 – and what is the goldfish?

“The shark is complacence,” said Hill. “You almost have a duty to explore what’s available that can make your company better and more effective…companies that aren’t consistently evaluating new ways of doing things will be the ones that fall behind.” The goldfish, or opportunity, is today’s technology – faster to implement, easier to use, and more quickly delivering value. 

Watch the 10-minute conversation.

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