Healthcare and life science organizations are operating in a highly regulated environment, with changing business models, disruptive technologies, and significant amounts of data. And the pace of change only continues to accelerate. We offer a market-leading portfolio of methodologies, tools and services to assist you in the areas of:
- Value-based growth strategies;
- Improved performance through advanced analytics;
- Diligence, inversions, separations and integrations;
- Adapting to the consumerism of healthcare;
- Complying with evolving regulations;
- Optimizing Electronic Health Record (EHR) systems;
- Harnessing disruptive technologies;
- Optimizing global business services;
- Transitioning from volume to value.
In a rapidly-changing world, our forward-thinking professionals focus on the horizon as well as the here and now, anchoring our experience in today’s reality while assisting healthcare and life science organizations to innovate and position themselves for tomorrow’s world. Our services are tailored to the issues that the industry, and your organization, experience.
Our member firms’ professionals have already helped many companies with the challenges of change management, sales force compliance, supply chain transformation, and mergers and alliances, to name a few.
KPMG industry-focused professionals have deep experience across the Life Sciences sector and continuously strive to keep abreast of industry trends, drivers and issues through knowledge sharing and industry insights programs. Our global network ensures that KPMG firms serve you with the same level of quality and consideration, whether you are operating in fast growing or emerging markets in the Americas, Asia or Europe.
Challenges & trends
Shifts within the R&D ecosystem
Shifts within the Research & Development (R&D) ecosystem are driven by eroding margins and the pressure to de-risk R&D, the move towards personalized solutions, the shift from treatment to prevention as well as cure, and the wealth of new scientific and technological innovations.
Rapidly Changing Tax environment
International developments like BEPS 2.0 may have a substantial impact on the group effective tax rate and will add an additional layer of complexity to the tax compliance obligations. This changing environment drives life science groups to reconsider existing tax policies and take appropriate actions to safeguard an efficient and responsible tax setup.
Significant disruptions within the Supply Chain
The future of the supply chain in the Life Sciences sector is being disrupted to fit new business models, technologies and regulatory shifts. Companies will see significant disruptions as they shift towards customer-centric offerings with demand driven, automated networks underpinned by digital platforms and technologies.
Focus on personalized and patient centric solutions
The focus on niche patient pools and specialty disease drugs continues to increase while personalized and precision medicine is a reality. This impacts business models and how to operate across the value chain.
Complex regulatory requirements and compliance rules
The Life Sciences industry faces an ever-changing regulatory environment. Balancing the desire to innovate and to achieve business goals while being compliant and mitigating compliance risks are some of the most challenging tasks.
Disruptive technological innovations
The adoption of disruptive digital technologies to automate and to optimize the potential of data is critical given the pressure to look for performance and cost reduction opportunities. On the other hand, technology players enter the Healthcare space at a growing pace.
Key services in the Life Sciences sector
We have a core team of Life Sciences specialists in Belgium across Audit, Tax & Legal and Advisory. Furthermore, we work closely together with a global network of 4,000 Life Sciences professionals that have supported all of the top 25 Life Sciences organizations globally. We are strongly connected within Belgium and internationally, sharing regular insights on trends, drivers and key issues.
The KPMG team supports Life Sciences companies in their transformation journey across different functions. The ability to leverage data and analytics to make better business decisions is critical and technology is a fundamental enabler to making operations more agile. We support clients in their finance transformation journey, improve their financial performance, guide them through their procurement, supply chain and tax challenges and help them implement enterprise wide solutions. We also support clients in putting cybersecurity strategies and practices in place.
We support Biotech companies along their growth journey. We understand the journey throughout the different stages and how assets and needs evolve at each stage. More importantly, we understand the need to stay agile while becoming future-proof.
We support Life Sciences companies in their risk and compliance governance and help them with their third party risk management (TPRM). Without holistic, technology-enabled oversight programs on third parties, those relationships can become a weak link that exposes businesses to an array of risks. We help companies in understanding the organizational risks presented by third parties, assess whether they can effectively manage those risks as needed, and establish consistent third-party oversight and monitoring.
The search for next generation therapies, coupled with declining R&D returns, means companies seek to acquire innovation through external deals. At KPMG, we support valuation exercises, M&A transactions and have built in-depth integration and carve-out expertise over the years within the Life Sciences Industry.
We support our clients in developing their commercial strategy. We guide path-to-market decision making and help develop launch strategies. We provide our clients with the insights they need to support their launch or accelerate product uptake. Through our expertise on quality of care, we help our clients identify and understand best practices in the delivery of care. Together with clients and opinion leaders we have co-designed multiple transformational programmes to share and implement our findings. Our work spans a range of therapy areas and geographies with the focus on improving patient outcomes.
One key aspect of the role of the auditor is to provide investors, creditors and other stakeholders with an independent view and responsible judgements on the financial statements. To make the difference, the auditor’s judgments must be rooted in an in-depth understanding of each client’s industry value drivers, competitive positioning and marketplace practice. Our audit teams have the knowledge, experience and skills in the Life Sciences sector to go beyond audit and provide relevant insights to bring your finance team to the next level.
We advise Life Sciences clients on a broad spectrum of issues as well as through the following integrated solutions
Digitalization and market fluctuations present a lot of challenges for organizations with business executives wondering whether their current processes are ready for the future. Investing in the right technologies allows these processes to become more efficient, agile and competitive.
We help you to maximize value across the entire value chain to keep up with evolutions in the market. By defining your enterprise strategy, improving processes and implementing core technologies, we help you to operate efficiently while exploring untapped potential.
Modern organizations must be agile, competitive and customer-centric. Changing customer expectations, new market entrants, technology disruption and the speed of change have forced brands to reinvent themselves and the experiences they deliver to their customers.
We lead you through a customer-led transformation by improving customer strategies and implementing powerful analytical and digital solutions. This will allow you to unlock your customer value and become a data-driven organization, thriving in the digital age.
Strategies that facilitate the right investments can help organizations grow and develop the necessary agility to respond to changes in the new reality.
Our multidisciplinary team will support you from the strategic conception phase, to deal execution to implementation and post-merger advice. Looking at your ultimate goal and strategy, our team will work with you to determine how a transaction or deal can support your objectives, helping you adapt your strategy and align your purpose and values to complete the transformation process.
Adapting to the ever-changing regulatory landscape in any sector can be challenging and forward thinking leaders see regulatory change as an opportunity, rather than a constraint.
Our solution, driven by a team of multidisciplinary experts, offer a complete approach to help your organization better deal with regulatory changes. With outstanding expertise in compliance, combined with access to technology-driven solutions, we offer a holistic view of the challenges and opportunities on the regulatory horizon.