5 Ways to Treat the Biggest Pains in the Life Sciences Industry

Biggest Pains Life Sciences Industry

Have you ever been flipping through the channels when nothing is on TV and found yourself horrifically entranced by something you’ve stumbled upon? I recently came across an episode of a show called Monsters Inside Me. If you haven’t seen it, it’s a show on Animal Planet that is part horror, part medical detective story about someone who has gotten ill due to some rare and terrible infectious disease. This particular episode I stumbled upon was called “Flesh Eaters.” I’ll spare you the graphic details … you can let your imagination run wild with this one.

Despite being disturbing and causing extreme paranoia, the victim’s stories are retold and it shows how the doctors and scientists work to solve the medical mystery. They identify the symptoms and evaluate the circumstances the patient had been in when they fell ill (e.g., a mysterious oozing arm wound after a trip to South America), and ultimately save the victim’s life.

Instead of giving you all the gory details of this episode, let’s bring it back to the pains in the life sciences industry. Perhaps linking manual order processing to a flesh eating parasite is extreme, but life sciences companies are falling victims to its inefficiencies. By ignoring the symptoms of inefficient order management, companies run the risk of limited process visibility, higher processing costs, low employee engagement and slow order processing cycle times. When you are talking about orders that can LITERALLY save someone’s life — this is a big deal.

Let’s identify the top 5 pains affecting today’s life sciences companies:

  1. Changing Business Models. Mergers & acquisitions (M&As), spinoffs and divestitures are a way of life in the life sciences industry. Although acquiring another company means new revenue, it also means managing its myriad of processes and systems.
  1. New Costs & Regulations. Regulations are as complex as ever, and new financial burdens, such as the medical device excise tax and increased demands for generic medications, are only pressurizing the situation.
  1. Limited Control & Oversight. Despite being an innovative industry, a majority of orders received from hospitals, clinics, and practices are still fax- or telephone-based. This lack of visibility can have drastic consequences.
  1. Lack of Employee Engagement. More often than not, CSRs are highly educated individuals, making them expensive and hard-to-recruit. In other words, they are assets that are much more likely to hit the road if they are stuck doing time-consuming tasks like data entry instead of growing their skillset.
  1. Gaps in Existing Processes. Even though most life sciences companies have an ERP/business system in place, these technologies still have significant manual gaps that can seriously dull their competitive edge (and waste time and resources).

How Order Processing Automation Can Help

The good news is, unlike a mysterious illness, curing these pains is more easily achievable than you may think. Many customer service and operational leaders are looking to accelerate business cycles, increase operation efficiency and improve customer service — order processing automation being a proven solution to do just that.

By minimizing the number of manual steps within order management and filling in the gaps that traditional software technologies can’t fill, order processing automation creates a truly streamlined user experience that results in organizational-wide benefits, such as:

  • Reduced operational costs
  • Increased delivery speed & follow-up
  • Assurance that you never miss a life-saving order again
  • Increased focus on customer service versus data entry
  • Enhanced order tracking & forecasting
  • Accelerated business cycles
  • Improved visibility & collaboration
  • A more productive, engaged staff

Want to learn more?

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Nikki Tracy

As Senior Creative Manager, Nikki oversees Esker's creative team which generates all of Esker's content and resources.

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