Advisory boards at biopharmaceutical and medical device companies serve as a valuable asset that provide strategic inputs and guidance on various clinical, payer, physician and marketing related issues that affect business operations.
However, running an effective advisory board requires optimal investment in resources and operations. Also, leaders involved in advisory board management should ensure that the quality of meetings and dialogue with advisory boards is excellent.
Best Practices, LLC designed a study to identify the best practices in advisory board management at mid-sized biopharmaceutical and medical device companies. The study delivers benchmarks on the optimum structure for various types of advisory boards, recruitment of advisory board participants, advisory board operational and resource benchmarks.
NOTE: Segmentation analysis was key to examining trends and effective practices. This research captures insights from the Mid-Sized Companies Segment. Mid-sized companies are those with annual revenues between $1 Billion and less than $10 Billion.