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Products & Services Managed Care Managed Care Organizations and Winning Practices

Best Practices in Formulary Success: What Payers Value in Field Medical Teams

ID: 5539


Features:

21 Info Graphics

15 Data Graphics

120 Metrics

21 Narratives


Pages/Slides: 42


Published: 2018


Delivery Format: Online PDF Document


 

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Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from "Best Practices in Formulary Success: What Payers Value in Field Medical Teams"

STUDY OVERVIEW

Pharmaceutical field medical teams (FMT) are focusing more on payers as insurers, PBMs and other payer organizations have risen in importance. With the healthcare market shifting to a value-based system, a new product’s position on a formulary is now a critical component of launch. Recognizing this trend, pharma has increased its efforts to support and inform leaders such as medical directors and pharmacy directors that play a large role in formulary decisions within payer organizations.

This study explores the frequency of recent field medical rep visits to 11 pharma companies, the topics discussed during these visits, the overall quality of the 11 pharma companies' field medical reps, and differentiating factors that led to high ratings from payers. This study also includes a chapter with payer narratives regarding the good, the bad and the ugly of field medical team interactions.

KEY TOPICS

  • Executive Summary: Methodology, Participants, Key Findings & Recommendation
  • Voice of the Customer: the Good, Bad and Ugly of FMT Interactions
  • Field Medial Team Interactions: Visit Frequency and Value Metrics for 11 Pharma Companies

KEY METRICS

  • How often in the last 6 months have you interacted with any field medical rep from these 11 pharma companies?
  • What were the primary topics discussed during these interactions?
  • How would you rate the overall quality of your field medical interactions with these 11 companies (using 5-point scale)
  • What did the representatives do differently from other companies to merit a high rating?

SAMPLE KEY FINDINGS
  • Ideal FMT member is Responsive and has Deep Knowledge of Products, Disease State & Data: Respondents from MCOs and PBMs used the same language to describe their ideal field medical representative:
      1. On a personal level they want someone who is responsive and professional
      2. In terms of skills, they expect someone who has a deep knowledge of products, disease state and scientific data
METHODOLOGY

This study engaged a total of 23 formulary leaders from at least 16 managed care organizations. Medical directors represented more than 40% of the respondents.

Industries Profiled:
Insurance; Health Care; Medical


Companies Profiled:
Anthem; Kaiser Permanente; CVS Health; WellSpan Health; DaVita; Aetna; Ascension; Cleveland Clinic; Express Scripts; Inc.; Tenet Healthcare ; Humana; MedImpact; HCA; UnityPoint Health; St. Joseph's Health; University Hospitals


If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.