The Role of Medical Companies in the Health Care Industry

2 min read
The Role of Medical Companies in the Health Care Industry

The role of medical companies in Dubai in the health care industry is largely dependent on the expertise of the people within the company. Many companies have a medical affairs department that supports research efforts outside of the labeled indications for marketed products. This department is a critical part of a cross-functional product development and management team. It also works to maintain and promote clinical trials from a scientific and neutral perspective. Here are three ways medical affairs teams contribute to product development.

They add value at every stage of a drug’s development:

Medical Affairs teams are increasingly adding value to the entire drug development process. Two-way communication with stakeholders supports better prioritization and clinical trial design and can even help increase return on investment. The team can tap into patient insights to accelerate timelines and address unmet needs. A strong medical affairs function can contribute to all stages of drug development, from the research stage to the launch.

They maintain databases:

In the healthcare industry, medical companies frequently maintain databases. Such databases contain data about the treatment of patients. Their information varies by provider and is often vital for quality improvement. The databases help provider groups to improve their services and compete more effectively in the market. Some of the databases also serve as a source of information for other health care providers as part of an external quality-review program. However, a database of health data does not necessarily mean it is necessary for all providers.

They promote clinical trials from scientific and neutral standpoints:

Although medical companies should promote clinical trials from scientific and neutral standpoints, such studies have some drawbacks. People who live far from clinical research sites have disabilities or otherwise have a limited timetable and may not be able to participate in these trials. In addition, it can be very costly or time-consuming. Ultimately, the benefits of such trials outweigh the risks of such research.

They can bring in input from other new entrants to the healthcare:

Digital innovations in the healthcare industry are driving new market segments and blurring the lines between the healthcare and IT industries. Some new entrants focus on reinventing existing solutions, while others build on digital innovations to offer completely new services. These companies face stiff competition from established healthcare companies and non-governmental organizations, while some bring in new approaches and technologies to improve the industry.