Maximize Medical Affairs Productivity: New Benchmarking Insights Reveal Optimal Resource Allocation for HEOR, Communications, and Planning
CHAPEL HILL, N.C., Sep. 20, 2024/ -- Best Practices, LLC has unveiled new research focused on optimizing Medical Affairs resources to drive greater efficiency and success. The study engaged leaders from mid-cap and large biopharma companies to analyze resource allocation strategies for key functions like Medical Planning, Medical Communications, and Health Economics & Outcomes Research (HEOR), helping organizations achieve superior performance.
With Medical Affairs teams under increasing pressure to demonstrate value, this research delivers critical benchmarks that allow companies to fine-tune their resourcing strategies. The findings offer a roadmap for striking the right balance between insourcing and outsourcing while ensuring budgets are optimized to maximize productivity.
According to the study, leading organizations are allocating:
- $5.9 million for Medical Planning
- $3 million for Medical Communications & Content Development
- $6.2 million for HEOR functions
Moreover, 60% of Medical Publications and Content Development functions are outsourced, leading to significant efficiency gains.
Ready to dive deeper? Download the complimentary report summaries:
As biopharma companies navigate complex therapeutic areas, effective resource allocation for Medical Affairs becomes essential for maintaining productivity while managing costs.
Pressed for Time? Watch our video summary to learn how leading companies leverage internal and external resources to streamline operations and enhance impact: