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Products & Services Business Operations Strategic Planning and Management

Benchmarking Advisory Board Management at Large Pharmaceutical & Medical Device Organizations: Cost and Challenges

ID: 5363


Features:

8 Info Graphics

20 Data Graphics

330+ Metrics

11 Narratives


Pages/Slides: 38


Published: 2015


Delivery Format: Online PDF Document


 

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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from "Benchmarking Advisory Board Management at Large Pharmaceutical & Medical Device Organizations: Cost and Challenges"

STUDY OVERVIEW

Effective advisory board management requires optimum investment in resources and operations. It's important for leaders involved in advisory board management to understand the financial resources needed to ensure that the boards attract quality members and produce insights that will improve operations.

Best Practices, LLC undertook this study to help pharmaceutical and device executives seeking ways to effectively manage advisory boards . The study includes challenges and best practices for advisory board operations, the selection of board members, cost and outsourcing benchmarks for running ad boards. Research findings provide evidence-based benchmarks around these issues so leaders can compare their efforts with industry peers.

This study contains a Large Company Segment (LCS) that is made up of 13 respondents.


KEY TOPICS

  • Selection of Advisory Board Participants
  • Cost of Advisory Boards
  • Challenges & Best Practices
KEY METRICS
  • Reach of Participants
  • Accepted Educational Background
  • Preferred Educational Background
  • Occupation for Clinical, Marketing, Payer, and Physician Advisory Boards
  • Years of Experience
  • Outsourcing of Advisory Board Work
  • Outsourcing Function
  • Outsourcing Budget
  • Top Challenges
  • Best Practices
  • Tactics to Reduce Costs
SAMPLE KEY FINDINGS
  • Outsourcing Advisory Board Activities is Common: More than half of study participants outsource some aspect of the activities that go into conducting an advisory board meeting. The most common activities outsourced are travel arrangements & faculty management (56% outsource) and post meeting summary & analysis (50%).

METHODOLOGY

Best Practices, LLC designed and deployed a custom benchmarking survey to 35 executives at 29 leading life sciences companies. Segmentation analysis was key to examining trends and effective practices. Thirteen participants at 8 companies make up the Large Company Segment (annual revenues greater than USD 10 billion). Most responses came from US & Canada (63%) followed by Asia (20%).


Industries Profiled:
Health Care; Medical Device; Diagnostic; Academic; Research; Education; Science; Pharmaceutical; Biopharmaceutical; Consulting; Biotech; Manufacturing; Consumer Products; Clinical Research; Laboratories


Companies Profiled:
Novo Nordisk; Articulate Labs; MD Outlook; Duke University and Health System; B. Braun; Reliance Institute of Life Sciences; PharMedium; Catalent Pharma Solutions; Poxel; Medicines Differentiation Analytics; Uroplasty; cipla; Medunik Canada; Purdue Pharma; Lupin; Acorda Therapeutics; Avanir; Haemonetics Corporation; Biogen Idec; Xenoport; Abbott Nutrition; Boehringer Ingelheim; Bayer; Sanofi; UCB Pharma; Covidien; AstraZeneca; Abbvie; Teva Pharmaceutical Industries Ltd

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.