Virtual Healthcare and Pharmaceuticals

Covid-19 has undoubtedly been a driving force behind part of this digital adoption, and it will be crucial to track its long-term impact on patient and physician behavior. The Covid-19 pandemic has proven to be a tipping point in the virtualization of healthcare, which has been underway for some time. Virtual health was heralded as a game changer in the healthcare profession more than a decade ago. However, while technology has enabled virtual health, providers, payers, and consumers have been slower to adopt it than expected. The pandemic has caused a shift in how individuals seek care, with an increase in telehealth sessions opening up additional virtual care possibilities.

Virtual Pharmaceutical Companies (VPC) are distinct from other R&D and Biotech industries in that they are solely made up of experienced teams of managers and consultants who coordinate and monitor external research and development groups and service providers to perform all operational activities on a contractual basis. The emergence of virtual business models in biopharma reflects the industry's shifting landscape. It is no longer possible for a large pharmaceutical company to find and develop its own pipeline entirely in-house.