THE ECONOMIC CLIMATE Implications 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 2007 But… 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 were seeing Information 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 & Vendors Information Professionals Improve sharing of industry news (layoffs, cuts) Use LinkedIn PHT group for flexible staffing needsLinkedIn PHT group 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)