THE ECONOMIC CLIMATEImplications for libraries, librarians, and SLA (DPHT)

Current conditions

US unemployment 8.1%; may exceed 10% 4.4MM jobs lost in February PHT membership down 22% since Feb 2007But… Our industries are traditionally “recession-

proof” – now “recession-resistant”? Are current situations more influenced by

recession or consolidation? Other factors: FDA changes, new president

Macroeconomic HC view

Healthcare / Pharma growth has slowed New administration is looking to limit

costs – pharma, devices, diagnostics; may be slowed by competing priorities

At the same time, FDA is scrutinizing applications more, increasing hurdles, including asking for better data –increasing cost to development

Implications – What we’re seeingInformation Professionals

Forced to do more with less Budget cuts Asked to broaden service ROI, ROI, ROI

Consolidation effects Job cuts More users / combining different user groups

Vendors Consolidation on this side as well – uncertain

effects Trying to deliver more value (continuing to

innovate)

Opportunities – IPs & VendorsInformation Professionals Improve sharing of industry news (layoffs, cuts) Use LinkedIn PHT group for flexible staffing

needs Self-education on technology tools Be conscious of ways to be lean

Information Broker?

Vendors Enhance the Vendor – IP partnership

Help us prove ROI with better statistics Help us prove value through purchase consolidation

Opportunities - PHT

Facilitate Vendor-IP discussions To help demonstrate IP value To help understand needs for different areas (e.g. by

company size, interests) Advertise value of IP to smaller PHT companies (which likely

lack IPs) Facilitate consulting using PHT members

Reinforce IP value to larger PHT companies Encourage SLA corporate C-level communications Collect & share supporting evidence for common concerns

ROI Offshoring Continue surveys of our membership / clients (as in SLA

Alignment)