What Erodes Trust in Biopharma?
- Miruna E. R.
- Sep 9
- 3 min read
From the standpoint of identifying the roots mistrust in biopharma, a study by Deloitte describes the industry as being profit-driven, harmful and designed to create dependency.
The above statement can be analyzed through various perspectives, as the findings uncover the key factors eroding trust in pharmaceutical companies worldwide.
In United Kingdom: The perception that biopharma companies are primarily driven by profit was highlighted as the main reason for distrust by 71% of participants.
In United Kingdom & United States: Concerns about overprescription of medication was ranked third among issues raised, likely reflecting the ongoing public health emergency surrounding the opioid crisis.
In United States: Lack of moral integrity of biopharmaceutical leaders was voted by nearly a third of participants as a reason for distrust, which may stem from the overflow of drug advertisement that overshadows the educational messages.
In South Africa: Insufficient transparency around corporate financials was pointed out by 28% of respondents as a significant source of discomfort.
In India: The threat of counterfeit medications emerged as a major concern, with 36% of participants citing it as a key issue affecting trust.
What If Trust is the Missing Link?
Amid rapid advances in health technology, trust could be the essential ingredient that turns innovation into “real-world change”. In fact, consumer surveys have revealed that patient trust is often associated with data privacy, accuracy monitoring, responsiveness alerts and algorithmic transparency. AI has the potential of revolutionizing the health care industry, but only by earning trust through alignment with clinical workflows, ongoing user feedback, and consistent results built over time and context.
Unlike tech companies which have built strong reputations through bold vision and clear narratives over the years, biopharma has historically lacked visibility and visionary leadership. By cultivating relationships with tech firms and being closely tied to patient advocacy groups, biopharma can not only develop innovative health solutions but also build trust and credibility by listening and prioritizing consumers lived experiences, and by collaborating with foundations, and other key figures. These partnerships offer the opportunity to redefine the industry’s image by demonstrating their humanity, transparency, capability and reliability, to ultimately strengthen public trust through a shared commitment to global progress.
By partnering with tech companies, it would allow biopharma companies to build analytic capabilities and allow them capture both active and passive data to assess performance overtime, creating a foundation for long-term trust. Implementing advanced data collection systems powered by recent technologies can serve as a benchmark for trust in companies or brands to demonstrate their commitment to ethical and responsive patient care by powering algorithms that prompt actions like reminders to fill prescriptions or discussions with physicians about current treatments. The fusion of both these companies has the potential of revolutionizing patient care by transforming trust into a measurable asset, reflecting not only performance metrics, but the value and vision behind their innovation.
Bottom line: Trust at the Core of Technology and Biopharma innovation
The rapid growth of AI holds promise to revolutionize the healthcare industry, but only if trust remains its principal foundation. Genuine trust in healthcare AI is not built through algorithms alone, it must reflect real-world medical needs, shaped by frontline experiences, and must involve complex and dynamic feedback that align with the realities of practitioners and patients, to truly earn public trust.
Ultimately, the partnership between tech companies and biopharma has the potential of fostering trust by demonstrating genuine intent and societal values of biopharmaceuticals, while reinforcing accountability across for emerging healthcare systems.
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