As Payer Influence Rises, Pharmaceutical Companies work to Optimize the Managed Markets Function
CHAPEL HILL, N.C., Jan. 23, 2015 /PRNewswire/ -- For the pharmaceutical industry, marketplace success is tied to how successful organizations are in dealing with payers. Likewise, the importance of the managed markets function - which is pharma's interface with payers - will only continue to grow as payer formularies and provider networks play an increasingly large role in how patients access therapies.
At the same time, managed markets leaders must continually identify the optimal resource levels and structures that help optimize performance, even in times of resource constraints. Sometimes the need is to grow resources. At other times, the need is to defend or reduce resources, or change how resources are managed or deployed.
To help biopharma managed markets groups more effectively conduct the many activities related to managed care interactions, Best Practices, LLC conducted a study looking at FTE, budget and activity metrics for the key functions within U.S. managed markets groups. The report provides payer and managed care leaders with important benchmarks on the optimal size of U.S. managed markets groups, structure models, key roles and activities, and many other key management factors.
Specifically, "Optimizing the Managed Markets Function: Roles, Structures, Resources and Activities" assesses the operational performance of managed markets functions within small and mid-cap pharmaceutical companies. The overall goal of this project is to illustrate how to have the most impact within the organization while continuing to operate on lean resource levels.
Staffing data (FTE), budget and organizational metrics and insights were gathered for the following roles within managed markets groups:
- Account Management
- Clinical Specialists
- Payer Market Research
- Contract Management
- Payer Customer Marketing
Best Practices, LLC engaged 11 commercial leaders from targeted small and mid-cap companies that align well in terms of size, market position and resource levels.
Leaders of the managed care function at biopharma companies can use this study to assess their efficiency levels by comparing their staffing benchmarks with those of peer organizations.
To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1330.htm.
For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking and advisory services firm serving pharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and most of the top 50 pharmaceutical companies. The firm conducts primary research and uses its comprehensive benchmarking tools and executives interviews to form the basis for our Benchmarking Reports and advisory services utilized by top executives. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.