Non-members: Click here to review a complimentary excerpt from " Medical Affairs Launch Support: Budget and Activity Allocation"
The Medical Affairs function plays a significant role in product launch, especially as a direct link between key decision makers and the organization. Thus, a successful launch requires deep involvement of Medical Affairs.
The success of Medical Affairs involvement in launch is tied, in part, to its resources. Without adequate funding, the Medical Affairs function is challenged to effectively execute all the different activities it is involved with in a new product launch.
Best Practices, LLC undertook this benchmarking study to provide investment benchmarks for Medical Affairs launch support. Leading metrics and insights in the study include average launch investment for product support and Medical Affairs investment allocation.
NOTE: Survey responses are segmented on three criteria - Product’s Projected Peak Annual Revenue, Targeted Physicians and Product’s Launch Year.
- Medical Affairs Launch Investment
- Medical Affairs Investment Allocation
SAMPLE KEY METRICS
- Total Launch Investment for Each Product Supported
- Average Medical Affairs Launch Investment for Each Product Supported
- Total and Global Medical Affairs Launch Investment For Each Product Supported
- Percentage of Total Medical Affairs Launch Investment Allocated to Various Activities
- Percentage of Total Medical Affairs Launch Investment Allocated to Various Medical Affairs Activities
- Geographic Span of Responsibility for Entire Benchmark Class
SAMPLE KEY FINDING
- Change from Non-Launch Mode Period Operations to Pre-launch: We observed a significant MA investment allocation increase in three areas during pre-launch process: Field-Based Medical Teams, Thought Leader Management and Scientific Communications and Publications.
This study engaged 28 executives from 24 leading life sciences companies. Segmentation analysis was key to examining trends and effective practices.