Sustainability in Health Industries

• Ageing population with diverse health needs (people over 65 will represent 26% of the Belgian population by 2050)

• Younger generations seek purpose-driven companies with shared values (War for talent)

• The number of people aged 80+ will be four times higher in 2050 than in 2000

• 13% of the population will be aged 80+ in 2050

Why is it important for the health industry?

With an ageing population and an upside-down demographics pyramid, the war for talent will be raging. How can companies attract and keep young talent in this changing environment where all their competitors are facing the same issue? What can you do to become attractive to young people and remain so over the next decades, so that you can cope with the outflow of employees retiring?

How do you remain sufficiently attractive for an ageing employee in your company? How can you keep them on board for as long as possible? What can be automated? What support is available, and how do you manage the changes caused by this disruption? 

The elderly want to live longer and healthier, knowing that work is an intrinsic part of the equation. When we look at the examples of Japan or Singapore, front-runners in this demographic shift, we see that keeping older people active in the company for longer is a necessity. How can we deal with this evolution without salaries exploding and losing the competitive edge?

Who can help me with this?

PwC has a worldwide network of subject matter experts and solvers to deal with these questions. In Belgium, feel free to reach out to Jan Debaere (BE)

• Health impact from environmental factors

• Increased vulnerability of the pharmaceutical supply chain

Why is it important for the health industry?

Climate Change and pollution are worldwide phenomena, and they may seem like distant problems for your company. Perhaps counter-intuitively, the pharma industry is accountable for more CO2 emissions (4%) and pollution than the automotive industry, and it will be required to do its part to reach the Paris Agreement targets.  Around the globe, it is clear that certain production sites are already impacted by climate change (floods, wildfires, droughts, hurricanes…) or pollution. Even if you are not yet affected by climatic shifts, you will be by new legislation impacting the pharma and cosmetics industries such as the upcoming Urban Wastewater directive as part of the Zero Pollution Action Plan, the EU Deforestation Regulation (EUDRR) or Corporate Sustainability Due Diligence (CSDDD). Implementing circular solutions is required not only to become more efficient and to reduce your environmental impact, but it will also become a necessity to meet upcoming regulations that apply from sourcing to end-of-life.

Who can help me with this?

PwC has a worldwide network of subject matter experts and solvers to deal with these questions. In Belgium, feel free to reach out to Jan Debaere (BE)

• Healthcare access disparities to tackle social determinants of health

• Growing rates of depression, anxiety and burnout drive demand for mental health solutions 

• 8% average life expectancy difference for higher socioeconomic score

Why is it important for the health industry?

The health industry has its reputation at stake. An increasingly powerful portion of society is voicing its concerns loudly over (social) media and to politicians. As a consequence, pharmaceutical companies are held accountable for addressing the needs for every patient regardless of ethnicity, gender or income.

Topics such as diversity & equality in clinical trials, access to medicine, pricing & reimbursement, or supporting non-profit organisations are a few examples that illustrate why recognizing and addressing social instability and inequality is vital for the pharmaceutical industry’s impact on health and well-being.

Who can help me with this?

PwC has a worldwide network of subject matter experts and solvers to deal with these questions. In Belgium, feel free to reach out to Jan Debaere (BE)

• Digital transformation and accelerated research requiring tech-savvy workforce

• Data-driven digital health integration

• Patient centricity and patient experience 

Why is it important for the health industry?

The huge amount of quality-controlled data in the health industry is difficult to miss, but what happens with all the collected data? It is often stored on (cloud-based) servers without clear data governance, and even more frequently, it’s stored to be there as long as it needs. We want to be clear that the impact of strong data governance and AI is often underestimated. Embracing technological disruptions ensures competitiveness and efficiency: it speeds up innovation and drug development, and adaptive technology enables robust and agile manufacturing processes (Industry 4.0) and improves the patient experience. It all comes down to the right choices to transform your organisation by ensuring high quality data, automated data streams and transparent reporting.

Who can help me with this?

PwC has a worldwide network of subject matter experts and solvers to deal with these questions. In Belgium, feel free to reach out to Jan Debaere (BE)

• Regulatory complexity

• Tackling fake news and trust erosion (e.g. opioid epidemic)

• Multiple means of communication enabling personalised and customised communication (e.g. coronavirus tracking app)

• 10.4% of GDP spent on healthcare in Belgium in 2015/2016 

Why is it important for the health industry?

Regulations change at a rapid pace. Not only in Europe but in other parts of the world, where the angle of attack might be different. Knowing what is important for you becomes critical, not only to remain compliant with public health and safety regulations, but also to be on top of the agenda and manage the changes that come with them. Industry reputation goes hand in hand with patient trust, therefore regulatory compliance is vital for maintaining that trust and upholding the integrity of your company.

Who can help me with this?

PwC has a worldwide network of subject matter experts and solvers to deal with these questions. In Belgium, feel free to reach out to Jan Debaere (BE)