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New Best Practices, LLC Report Provides Window into Future Trends for Digital Marketing Budget, Staffing and Performance Measurement
Pharmaceutical and medical device companies are increasingly using digital engagement channels to more effectively communicate with their customers. Unlike many other operational areas of pharma and medical device organizations, the performance of digital marketing can be measured to evaluate the impact and effectiveness of each digital channel.
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As Pharmaceutical Industry Increases Use of Investigator Initiated Trials (IIT), Companies are Struggling to Effectively Manage IIT Programs
Pharmaceutical companies are investing more resources in investigator initiated trials (IITs) as they strive to expand their commercial opportunities. Yet as organizations strive to improve and expand their IIT programs, they are struggling to ensure IIT proposals align with corporate objectives and also demonstrate scientific merit.
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New Report Explores how Medical Device Industry can Utilize a Value-Selling Approach to Survive in the Emerging Sales Landscape
To meet the challenges of an evolving marketplace marked by consolidation and the increasing power of payers and provider networks, medical device sales organizations are shifting to a sales approach that demonstrates value to a wide range of customers.
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New Best Practices, LLC Study Tackles Challenge of Integrating Quality across Global Pharmaceutical or Medical Device Operations
Effectively integrating a quality organization across a global pharmaceutical or medical device company is a major challenge for the same reason it can produce amazing results: the world is a big place with many differences. On a more local front, companies seek to understand how a quality organization can move beyond simply ensuring product safety and compliance.
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Report Outlines How Pharmaceutical Industry is Adjusting the Management of Medical and Commercial Advisory Board Meetings
Pharmaceutical companies have long used advisory boards to gain commercial and medical insights about products both in development and already on the market. But new Sunshine Act reporting requirements have forced the pharma industry to adjust how it manages advisory board meetings.
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Emerging Trends in Medical Education in the Pharmaceutical Industry is the Focus of Best Practices, LLC Study
Medical education programs in the pharmaceutical industry are evolving to meet new transparency requirements as well as interest in outcomes-focused information. A recent study by research and consulting leader Best Practices, LLC found that a majority of companies in the study are using multi-disciplinary programs to support their medical education programs.
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New Best Practices, LLC Study Presents Current Benchmarks on Corporate Library Services in the Pharmaceutical Industry
Corporate libraries and information centers in the pharmaceutical sector are under increasing pressure in today's environment of shrinking business resources. To meet those pressures, libraries and information centers need to demonstrate their value to their organization. That means library leaders need to know whether their activities are cost effective and whether they are spending in the areas that have the greatest impact for their customers.
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Best Practices, LLC Study Examines How Pharmaceutical Industry is Successfully Executing Risk Evaluation and Mitigation Strategies Programs
Developing an effective, yet innovative, Risk Evaluation and Mitigation Strategy (REMS) plan is a delicate balancing act for pharmaceutical companies. Given the complexity of balancing regulatory requirements and commercial objectives, Best Practices, LLC conducted a study to examine how leading life sciences and medical device companies develop and execute successful REMS plans for newly-approved drugs in the U.S. market.
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Virtual Engagement, Structure and Activities are the Focus of Pharmaceutical Industry Study of Field Medical KOL Engagement
The growing demand from critical external stakeholders for outcomes and pricing data has pushed biopharmaceutical organizations to develop effective KOL engagement strategies for their field-based medical and field-based outcomes and pricing groups.
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Best Practices, LLC to Benchmark Learning & Development Programs in Cross-Industry Research Project
Best Practices, LLC, a research and consulting firm serving Fortune 500 companies, recently earned a new engagement supporting a top-20 global biopharmaceutical company's efforts to understand how industries structure their Learning & Development (L&D) programs to optimize staff learning within R&D and Engineering and Technical groups.
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Best Practices, LLC: New Pharmaceutical Industry Study Highlights the Role of Field-Based Medical Teams in Serving Managed Care Organizations
As the influence of payers has grown in the United States, the pharmaceutical industry has added field medical team roles to handle managed care interactions. These field roles include Health Outcomes Liaisons (HOLs), Managed Care Liaisons (MCLs) and other field functions that serve managed care customers.
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New Pharmaceutical Industry Study Highlights the Role of Medical Affairs in Payer Interactions
Pharmaceutical companies are turning to their medical affairs function to enhance interactions with critical payer groups such as Accountable Care Organizations and Integrated Delivery Networks. As the function that houses the roles dealing with health outcomes, medical affairs is positioned to deliver the value and outcomes-oriented information that can influence payer decisions.
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Study Highlights Evolving Role of Medical Affairs in Medical Device Product Launches
A rapidly changing medical device marketplace coupled with a highly regulated promotional environment has pushed the medical affairs function into a more prominent launch role for the device sector. The bottom line: Just as in pharma, the successful launch of a new medical device requires deep involvement of medical affairs.
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Pharmaceutical Industry Adjusting Roles within Field-Based Medical Teams to Better Serve Critical Payer Stakeholder Group
The pharmaceutical industry relies on field-based medical teams to share scientific and outcomes-related data with key external stakeholders such as thought leaders and payers. The demand for this type of data on pharmaceutical products is increasing, and to meet this growing need pharma has been expanding field-based medical teams beyond just Medical Science Liaisons.
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Boosting the Performance of Pharmaceutical Product Launches through the Impact of Digital Marketing Innovation
As digital marketing strategies and tactics evolve, pharmaceutical companies must constantly adapt their digital marketing approaches to better support both pre-launch and launch activities for new products. Companies investing in digital now will reap the rewards in future product launches, according to one pharma digital leader who participated in a Best Practices, LLC study on digital marketing impact.
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Study Provides Current Trends in Pharmaceutical Industry Grants for Accredited and Non-Accredited Medical Education Programs
Medical education serves as a valuable platform for pharmaceutical companies to inform physicians and health care professionals about the latest products, therapies, indications and treatment approaches. However, regulatory pressures and dwindling budgets have compelled medical education groups to reshape their approach to deployment of accredited and non-accredited education programs.
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New Pharmaceutical Industry Study Examines Roles and Responsibilities of Medical Affairs Groups in Executing Real World Data Programs
Pharmaceutical companies are relying on their Medical Affairs function to oversee the collection and utilization of Real World Data (RWD) for informing key stakeholders on product effectiveness. However, it is challenging for Medical Affairs groups to harness relevant information from huge data sources such as electronic medical records, clinical trial data, and patient behavior data.
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As iPads become Commonplace in Field Roles in the Pharmaceutical Industry, Tablet Utilization has not Translated to Increased Effectiveness, New Study Finds
Across the pharmaceutical industry, iPads have become commonplace for field-based medical roles such as medical science liaisons (MSLs) that present scientific information to thought leaders and other physicians. This technology shift - away from laptops and toward tablets - has not always translated into increased effectiveness for MSL interactions.
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Pharmaceutical Industry Utilizes Local Medical Information Groups to Support Affiliate Operations in Global Locations
Savvy pharmaceutical companies create local medical information groups within their affiliate operations around the world to more effectively address local inquiries about products. This is just one of the findings to emerge from a new study about medical information groups, the function within pharma that helps develop publication materials and responds to stakeholder inquiries about pharmaceutical products.
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New Pharmaceutical Industry Study Highlights the Role of Medical Affairs in Patient Engagement Programs
With the shift in the last decade from a support function to an independent role, Medical Affairs groups in the pharmaceutical industry are now playing a bigger role in companies' patient engagement programs. As part of its involvement in patient engagement programs, Medical Affairs groups have to be effective at collaborating with both internal and external stakeholders.
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New Best Practices, LLC Study Examines Benefits and Pitfalls of Exclusive Vendor Partnerships for Market Research in Pharmaceutical Industry
Market research groups within the biopharmaceutical industry rely extensively on vendors for primary and secondary research to support their internal clients. One of the vendor management strategies that helps biopharma market research groups provide support and value is the use of exclusive vendor partnerships.
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Pharmaceutical Companies Need an Effective Global Branding Process for New Products to Ensure Success across Geographies and Affiliates
An effective global branding process has never been more important to a pharmaceutical company that has operations around the world. As pharma and biotech companies turn to other regions of the world to drive growth, it is important that they create brand elements such as positioning and key messages for new products that will work across geographies and affiliates.
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At Decade Mark, how are Pharmaceutical Companies Successfully Executing Risk Evaluation and Mitigation Strategies Programs?
It has been 10 years since the U.S. Food and Drug Administration gained the authority to require pharmaceutical companies to develop Risk Evaluation and Mitigation Strategies (REMS) for products that may have safety issues. Given the complexity of balancing regulatory requirements and commercial objectives, research and consulting leader Best Practices, LLC conducted a research project to examine how leading life sciences companies develop and execute successful REMS plans for newly-approved drugs in the U.S.
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Trends in Pharmaceutical Industry Digital Marketing Innovation Highlighted in New Report
Elite healthcare organizations are investing more than ever in digital marketing to learn about their customers, build better relationships, leverage effective online media, and grow revenue. To be successful, companies must continue to innovate and identify the right channels, tools and approaches to reach physicians, patients and other customer groups. But picking the optimal "digital innovation path" is different for every organization.
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Top Medical Affairs Executives to Discuss Medical Affairs Role in Using Real World Data
Research and benchmarking firm Best Practices, LLC will host its next Medical Affairs Roundtable on Thursday, July 20 to discuss how Medical Affairs groups can better integrate Real World Data use into their internal and external work.
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New Marketing Career Path Study Delivers Road Map for Producing Future Company Leaders in Pharmaceutical Industry
In the last decade, the pharmaceutical industry has witnessed the evolution of the marketing function and how companies use marketing to effectively position their treatments for market entry and throughout the product lifecycle. Yet many pharma companies fail to define a clear career path for their high-potential marketers - the company's future leaders.
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New Oncology Launch Study Probes the Investment and Staffing Levels Needed to Successfully Launch a Cancer Drug in the United States
New cancer therapies continue to make their way through the development and approval process in the United States as part of the oncology therapeutic area's resurgence. But the variety of cancer product types – single indication versus second indication - make it challenging for new product launch leaders to ascertain efficient staffing and investment levels for the launch-related activities of their new oncology products.
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Study by Best Practices, LLC Explores How the Pharmaceutical Industry is Utilizing the Role of Medical Affairs to Enhance Payer Interactions
Pharmaceutical companies depend on their relationships with payers to gain formulary access for their products. With payers laying greater emphasis on patient outcomes and economic value, many pharma organizations have turned to their medical affairs function to effectively interact with payers regarding their product's medical information.
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Transparency and Authenticity is Key to a Successful Pharmaceutical Industry Collaboration with Patient Advocacy Groups
Pharmaceutical industry collaborations with patient advocacy groups are an important way for helping brands connect with patients throughout the product lifecycle. In order to identify effective practices in patient advocacy group collaboration and relationship management, Best Practices, LLC undertook benchmarking research.
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Outcomes-Oriented Marketplace Pushing Pharmaceutical Industry to Adjust Roles within Field-Based Medical Teams
Field-based medical teams within pharmaceutical organizations need focused strategies and appropriate resources to meet the growing information needs of physicians, patients and payers. In particular, pharma is adjusting its field-based medical teams to ensure they have the right people to provide the value-oriented and outcomes information that payers need to sign formulary contracts.
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Using Scientific Publications Strategy to Ensure a Pharmaceutical Company's Credibility and a Product's Viability
Scientific publications remain the principal way that biopharmaceutical organizations relay critical clinical trial data to key external stakeholders such as physicians and payers. Data from different phases of drug development are the earliest ways these stakeholders learn about new products and the information serves as the building blocks for how a new product will be positioned in the marketplace.
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Improving New Pharmaceutical Product Launch Results through Effective Preparation of District Sales Managers
While an effective sales force is integral to a successful product launch in the biopharmaceutical industry, it is the district sales manager who plays a key role in reps' performance in the field. Realizing this, savvy pharmaceutical companies are beginning to focus more attention on preparing and measuring performance of the front-line District Sales Managers (DMs) – the leaders who oversee launch-related sales activities in the field.
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Current Trends in How the Pharmaceutical Industry Conducts Disease State Awareness Campaigns is Focus of Research Study
Disease state awareness campaigns are one of the few ways to inform patients and physicians before a product is approved. In essence, they set the table for future marketing efforts at product launch and post-launch.
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Regional New Product Planning Teams Key to Local Market Success with Product Launches in Pharmaceutical Industry
Global teams may call the shots for new product development in pharmaceutical companies, but it is the regional team's insights that can make or break a product's launch in key local markets.
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New Study Focuses on Creating a Value-Oriented Competitive Intelligence Function within a Pharmaceutical Company
The Competitive Intelligence (CI) function is often undervalued in the pharmaceutical industry, and as a result leaders of this role sometimes struggle for attention and resources. The value of the function remains murky in many companies, in part because CI remains a sub-function or a fragmented work group as opposed to a traditional corporate function, such as marketing or sales, according to new research from research and consulting leader Best Practices, LLC.
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New Report Highlights the Benefits and Disadvantages of Utilizing a Contract Sales Organization in the Pharmaceutical Industry
As pharmaceutical companies explore different sales models to improve efficiency and/or meet budget needs, one of the options is a Contract Sales Organization (CSO). While a CSO may save money, it also comes with challenges and disadvantages. Commercial and sales leaders need to consider a host of issues when determining the appropriate fit of a CSO for their current business issue, as well as what are the best CSO vendors to use, and what are the resource expectations.
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Pharmaceutical Data Dissemination Policies Vary Around the World but Off-Label Discussions Typically Only Occur Reactively, New Study Finds
With the shift toward evidence-based medicine and value-based pricing in the marketplace, pharmaceutical companies are turning to their Medical Affairs function to create effective guidelines for the dissemination of critical product information to external stakeholders. And in today's regulatory environment these guidelines are a vital part of ensuring compliance and consistency around on-label and off-label data discussions by global field medical teams.
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New Study Finds that Timing of Brand Activities is a Key Component of an Effective Global Branding Process for New Pharmaceutical Products
Pharmaceutical companies struggle to create global branding that will work across geographies and affiliates. The timing of brand activities is a key component of an effective global branding process that will work across geographies and affiliates, according to new research from consulting firm Best Practices, LLC.
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New Study Highlights Strategies for Developing Strong Medical Information Groups in Pharmaceutical Companies
Medical information groups within the pharmaceutical sector are exploring ways to increase their self-service capabilities to manage inquiries from external stakeholders such as Health Care Providers (HCPs). New research from consulting leader Best Practices, LLC found that many pharma organizations have developed self-service website portals where HCPs can sign on and ask questions electronically.
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Current Practices in Pharmaceutical Advisory Board Management are Highlighted in New Report
Pharmaceutical companies have long used advisory boards to gain commercial and medical insights about products either in development or already on the market. But new Sunshine Act reporting requirements have forced the pharma industry to alter how it manages advisory board meetings.
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Study Highlights Keys to Creating a High-Value Medical Affairs Function in a Changing Healthcare Environment
Within the pharmaceutical industry, the medical affairs function carries heavy responsibilities because of its accountability across areas such as clinical development, thought leader management and medical liaison oversight.
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