The inventor Thomas Edison once said, “Opportunity is missed by most people because it is dressed in overalls and looks like work.”
Opportunities are work. Some opportunities aren’t immediately fruitful. Sometimes opportunities require you to do something you don’t like to do, or aren’t in the mood to do, or don’t feel like you have the time for, or feel like you’re doing something about already. While that may sometimes be, what always is the case is that those who seize opportunities are the ones who succeed.
I think about opportunities a lot and look for them everywhere. They could be obvious, present themselves, hidden in plain sight or frustratingly elusive. So, I am especially gratified when I find one I believe to be interesting or rich in potential for a company I’m working with to enhance, build or, rebuild, their reputation.
As I work in healthcare, I am particularly excited right now about the steps recently taken by the Government of India that make it possible to expedite the availability of medical treatments, potentially bringing life-changing therapies for cancers and rare diseases more quickly to millions of people who need these. By waiving the need for local clinical trials, it is possible to accelerate access to medicines that can change the course of an illness. And when that happens, there is a positive change to people’s lives, not only the individuals with disease but also their families.
The potential impact on the wider community and the global healthcare ecosystem is significant. The opportunity for the biopharma industry is, too.
The pharma market in India is on track to be one of the fastest growing in the world, expected to grow to $130 billion by 2030. With this new decision from the Government, now is the time to think through what is needed to build, rebuild or enhance existing relationships with healthcare providers, advocacy communities and the court of public opinion. Leadership—in words, deeds, and in person—right now is critical.
To be sure, reputation will play an outsized role. Companies must communicate who they are and what they stand for. Leaders need to share their point of view on this new decision and how it impacts their commitment and their business. This is also a chance to share personal backstories behind their dedication to driving better healthcare.
Communications must assure stakeholders that while the process of getting medicines into the hands of those that need them will be expedited, rigorous quality and safety standards that ensure these essential therapies are safe and effective will continue to be in place, as always. This work grows connection and trust.
Then, companies need to build understanding. Toward this end, communications to explain how their companies work, the science behind the medicines, who is doing the discovery and development, and what happens to get a new therapy into patients’ hands.
Relationships—always a central part of public relations — are another step. Creating or enhancing relationships with advocacy groups and influencers will yield new ways to work together for the benefit of specific patient communities.
As always, communications need to be supported by actions. This can take the form of initiatives that fill a patient’s need, support healthcare providers, or deliver patient education.
The easing of India’s drug approval process is significant. Companies working in healthcare have an opportunity. I’d even extend that to say they have a responsibility to help the medical and patient communities understand what has changed and how they could benefit and in so doing, cement a strong, positive, trusted reputation.
For companies and leaders in any industry, the truth about opportunities is that they really are everywhere especially in a world changing as rapidly as ours is today. Of course, certain opportunities present themselves in policy decisions and in the news. But others are found in dialogue—casual and formal–, listening and everyday observations. They’re found in relationships—new, existing, and even those that start on LinkedIn! Uncovering a new insight is incredibly rich in opportunity. By placing oneself in the everyday shoes of stakeholders, it’s possible to identify ways to address pain points or areas of discontent, or on the flip side, create an activation based on something your stakeholders find satisfying or a source of contentment.
I want to end with an important point that can be overlooked. Opportunities don’t always need to have an instant pay-off’ or a ‘big win’ for them to be considered good. They just need to open the door to new people and organisations, introduce you to new issues and possibilities, and make you think differently about your approach to a challenge, like building reputation. It’s work but it’s always worth it.
The views and opinions published here belong to the author and do not necessarily reflect the views and opinions of the publisher.
Sandra Stahl has created and led communications solutions for many of the world’s leading pharma, biotech, diagnostic, device and consumer healthcare brands over a 30+ year career. Her skills as a strategist and developer of compelling narratives have enabled organizational-and market- readiness, powered investment, enhanced profiles, amplified landmark data, built reputations and influenced opinion. She is a recognized thought leader regularly published in industry, national and international media, and author of the award-winning book, The Art & Craft of PR (LID 2018). Additionally, Sandra is founding faculty in the PR track in the Branding + Integrated Communications master’s degree program at The City College of New York, now in its 10th year, has delivered lectures at university communications programs around the world including Columbia University in New York and Xavier Institute of Communications in Mumbai, India.
Be the first to comment on "Opportunities and the one for healthcare right now"