Data is the backbone of modern healthcare; without precise master data management, enhancing patient outcomes is unattainable, says , a globally accomplished leader at one of the world s premier Big Four consulting firms. Among leading global executives transforming the life sciences and healthcare (LSHC) industry, Singh is a visionary artificial intelligence (AI) and master data management leader. He has helped various organizations deliver transformational programs focused on improved patient outcomes through his deep functional and engineering expertise.
Singh has been invited by several prestigious institutions worldwide to serve as a fellow, including the Forbes Technology Council, in recognition of his outstanding impact and commitment to improving human lives through advanced master data management expertise. Additionally, various industry and technology leaders have applauded his thought leadership and groundbreaking approaches to handling patient data with consent.
He shares, I ve been passionate about computers, data, and their applications since my childhood. Witnessing my mother s fight against rheumatoid arthritis has fueled my personal and professional mission to help the industry deliver the best patient outcomes. Leveraging over a decade of expertise in AI and master data management programs, I am dedicated to making a difference.
The Industry Landscape in 2024
In 2024, the pharmaceutical industry in the United States and globally is set for substantial growth, driven by advancements in AI and master data management technologies. Adopting AI and master data management to is a key driver, with these technologies offering unprecedented data analysis and predictive modeling capabilities. The turn toward personalized medicine and high-quality care also plays a crucial role, as it demands precise data management to tailor high-quality engagements and treatments to individual patients.
Figure 1- Spending in the U.S. is expected to increase by $299 billion through 2028, driven by new and existing brands
Source: Global Use of Medicines 2024 by IQVIA Institute for Human Data Science
Given the significant growth in the use of medicine by spending and volume in the U.S. and globally, it is clear that this growth necessitates proven approaches to patient engagement and market access effectiveness. However, healthcare and pharmaceutical organizations face tremendous obstacles in enabling such initiatives due to the extreme growth of data and the lack of advanced master data management applications that can offer effectiveness in a compliant manner. This problem alone impacts the opportunity for potential US $360 billion annual savings from AI for the U.S. healthcare system over the next five years.
Many businesses seek master data management leaders capable of delivering all-encompassing solutions covering everything from strategizing, innovating, designing, and building master data management applications for improved patient outcomes. Singh s overall approach, which combines technical expertise with strategic vision, places him in a position of leadership in this constantly changing climate.
According to Singh, biopharmaceuticals, precision medicine, and digital health are expected to be the primary concentration areas. In the future, he sees master data management applications that are even more integrated and intelligent, which would allow for real-time insights and decision-making.
Advancing in Consent Management
Among Singh s notable contributions is developing a comprehensive consent management process by integrating a master data management application to streamline data collection, management, and shareability in the most compliant manner. His approach has been discussed and presented across various platforms, including at the Informatica World 2023 conference, attended by over 2,000 participants from over 55 countries, and Reltio DataDriven. His approach and solution address the diverse and often complex use cases of managing first-party data across Connected Health, HCP-360, spend reporting, and engaging with healthcare professionals and patients as per their preferences (over email, phone, text, etc.), ensuring stringent regulations while maintaining cost-effectiveness.
His approach has been effective in solving complex consent management-related problems. It has also provided a cost-effective approach for managing low-volume consent data using master data management solutions. His innovative approach has been discussed at the Informatica World 2023 and followed by various AI and master data management leaders. This advancement is particularly relevant as the pharmaceutical sector increasingly embraces digital health technologies. According to a report, the total addressable market for consent management is growing by 9% CAGR and is expected to be more than $2 billion by 2030. Effective master data management systems like Singh s are essential to fostering high-quality data in a compliant manner for organizations to enhance care with impeccable trust.
Transforming Master Data Management
Singh s career path shows how innovative master data management can set the tone for highly critical transformational programs. For a similar program, his leadership in designing and implementing a master data management application, specifically focusing on identifying duplicate records of persons from a wide network of data sources, helped one of the U.S. states save over $10 million by enabling accurate benefit determination and eligibility statuses, allowing the state to terminate cases that no longer met benefit rules, and ensuring timely benefit disbursal to those who needed it the most.
As an AI and master data management leader, Singh has been responsible for leading programs that have changed first-party data management by providing cutting-edge data management capabilities that help organizations support the patient journey.
Through his deep expertise, he has innovated a distinct approach to reduce master data management application design and implementation timeline by 50% and deployment by 70%. To achieve this, he has standardized various aspects of data ingestion to derive weight and threshold for matching data records.
The global market for master data management is anticipated to expand at a compound annual growth rate (CAGR) of 15.7% and is forecast to reach $34.5 billion by 2027. Developments in digital health technology and personalized medicine will drive this growth. This growth would not have been possible without Singh s contribution to master data management. He has allowed businesses to negotiate complex regulatory environments and maximize their investments in market access and patient support programs by utilizing AI and master data management innovations.
AI and master data management solutions are the keys to unlocking breakthroughs in complex health challenges and cures, ultimately advancing humanity toward a healthier future, Singh emphasizes. Implementing innovative approaches for managing patient data and consent has helped pharmaceutical companies transform into patient-first organizations. These strategies enable various use cases, from high-quality patient engagement and support to minimizing operational costs in launching new life-saving drugs. Additionally, by addressing market access challenges, these initiatives have helped shorten the time required to bring new drugs to market. This efficiency is necessary in a sector where time is frequently equated with the number of saved lives.
Perspective and Thought Leadership
Singh s clientele has enjoyed considerable benefits due to his deep AI and master data management expertise. Through the strategic application of AI and master data management, he has increased operational efficiency by reducing 80% of manual data clean-up effort, improving more than a million lives.
Indeed, his thought leadership extends beyond the issues he is currently working on. He has a reputation for being a prolific writer and speaker, having contributed articles in Forbes and several business magazines and given presentations at well-known conferences. The widespread respect that he has received for his ideas on the ethical use of patient data and the future of AI in healthcare does not come as a surprise.
Singh has established himself as a leader committed to pushing the limits of innovation. Because of his pioneering work in AI and master data management, the industry has seen breakthroughs that have improved patient outcomes in a complex and dynamic regulatory environment. In the following decade, the industry will face several difficulties and possibilities, and Singh s skills and vision will be crucial in facing the challenges and opportunities.
When asked about his path, Singh has one thing to say, Innovation is not just about technology but about improving lives. His words capture the essence of his role and its enormous impact on healthcare. Singh s contributions will remain essential to the industry s development as it heads into a promising future.
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