84 Biopharma Leaders Share How Strong Insights Management Can Boost Medical's Impact

CHAPEL HILL, N.C., Jan. 11, 2021/PRNewswire/ -- Many organizations lack a clear process and strategy for gathering and sharing Medical Insights to inform Medical Affairs strategies and plans; the challenge for Medical Affairs is how to incorporate stronger Insights and Intelligence skills into medical activities and processes.

Best Practices LLC conducted a primary research study to better understand how Medical Affairs can improve its use of insights within the medical function.

What the new study found is that a small subset of companies are beginning to make headway, and it's because they have a process and strategy for gathering and sharing Medical Insights that is supported by leadership and has clear KPIs in place. The research included in this 116-page report highlight the key differences between the Insight Leaders vs. the Majority and Laggards.

For instance, 35 percent of the organizations identified as Insight Leaders (n=17) have a have a separate insights group to manage medical data, whereas only 21 percent of the Insight Majority (n=56) have a separate group. None of the Insight Laggard segment (n=11) have a separate group.

Topics addressed in "Best Practices for Gathering and Distributing Insights within Medical Affairs Organization" include:

• Structure of Medical Insights and Dissemination Group
• Gathering Insights: Coordination, Activities and Tools
• Disseminating Insights: Tools, Activities and Effectiveness
• Insights Gathering: Training Techniques and Tools
• Innovative and Best Practices
• Actionable Insights and Intelligence Gathering
• Key Lessons Learned

Best Practices, LLC engaged 84 executives from 57 leading life sciences companies in this research. The study insights are mostly from directors and higher management executives, representing nearly 80% of the benchmark participants. Benchmark data is broken down into three different segments to provide deeper insights. Classifications reflect their approach and standing on Medical insight generation: Insight Leaders (17 respondents); Insight Majority (56 respondents); and Insight Laggards (11 respondents).

To learn more about this report, download a complimentary report excerpt at https://www.best-in-class.com/rw91.htm.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.