The CIO's 'Build Versus Buy' Conundrum Is Now 'Build Versus Build'

Present and future digital health tools must be capable of scaling quickly and cost-effectively, with CIOs being tasked with enabling the foundation that makes this possible. Early on during medtech and biopharma’s journey into digital innovation, many technology conversations centered on “build versus buy” and whether developing underlying technology in-house or partnering to adopt an existing platform would deliver greater efficiency, functionality and return on investment. Building in-house may sometimes offer greater control and deepen corporate and product knowledge, while buying can extend your team’s expertise and capabilities to get initiatives launched and scale faster. Now that the industry has evolved in its digital journey and has seen more successful digital initiatives, lessons have emerged that alter the conversation. As the CIO's role has shifted, so too has the decision of whether to build or buy tech infrastructure. The role of any C-level executive includes helping the company stay ahead of current and emerging competitors.

Medigy Insight
In the medtech and biopharma industries, the decision of whether to build or buy technology infrastructure has evolved as the industry has progressed in its digital journey. The role of the CIO has also changed, with a focus on enabling scalable and cost-effective digital programs that align with organizational goals. CIOs must also consider evolving regulations and the cost and resources required for building or maintaining a digital platform. Factors such as customization and control, as well as integration with external systems, must also be considered. The ultimate decision will depend on the specific needs and goals of the organization.