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Products & Services Medical Affairs Thought Leader Services

Creating Effective Medical Affairs and Market Access Teams in Medical Devices: Thought Leader and Payer Insights

ID: 5711


Features:

6 Info Graphics

34 Data Graphics

250+ Metrics


Pages/Slides: 46


Published: 2021


Delivery Format: Online PDF Document


 

License Options:


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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from "Creating Effective Medical Affairs and Market Access Teams in Medical Devices: Thought Leader and Payere Insights"

STUDY OVERVIEW

As the medical device industry is expected to witness massive growth in the coming years, it is important to develop robust Medical Affairs and Market Access teams to improve external engagement efforts. But while medical device product portfolios grow, many device manufacturers still face operational constraints that undermine the ability of emerging Medical Affairs and Market Access teams to effectively support in-line products.

Best Practices, LLC undertook this research to capture crucial thought leader and payer engagement benchmarks for Medical Affairs and Market Access teams within medical device companies. This research will help Medical Affairs and Market Access leaders determine how to build and steer their teams to ensure they effectively differentiate their products in the competitive medical device sector.



KEY TOPICS


  • Executive Summary


  • Thought Leader Insights and Metrics


  • Payer Insights and Metrics


KEY METRICS

I. Thought Leader Insights and Metrics

  • Average number of key opinion leaders (KOLs) and digital opinion leaders (DOLs) managed by each MSL
  • Most valued thought leader engagement activities – Total benchmark class
  • Most valued thought leader engagement activities – Large companies segment vs. Mid-small companies segment
  • Importance ranking of thought leader activities to the Medical Affairs organization – Total benchmark class
  • Importance ranking of thought leader activities to the Medical Affairs organization – Large companies segment
  • Effectiveness of listed metrics to track thought leader engagement success
  • Percentage of intelligence-gathering work involving proactive collection (targeted, directed, focused on a specific topic of interest) vs. reactive collection
  • Effectiveness of primary sources for insight generation within Medical Affairs
  • Effectiveness of secondary sources for insight generation within Medical Affairs
  • Best practices in insight sharing – Total benchmark class
  • Best practices in insight sharing – Large companies segment
  • Internal functions with whom insights are shared – Total benchmark class
  • Internal functions with whom insights are shared – Large companies segment
  • Performance KPIs used by Medical Affairs teams – Total benchmark class
  • Performance KPIs used by Medical Affairs teams – Large companies segment vs. Mid-small companies segment
  • Impact/outcomes/strategic KPIs used by Medical Affairs teams – Total benchmark class
  • Impact/outcomes/strategic KPIs used by Medical Affairs teams – Large companies segment
  • Topmost valued things provided by medical teams to thought leaders and KOLs
  • Improvement areas for medical teams to improve thought leader engagement
  • Most valued payer engagement activities
  • Importance ranking of payer engagement activities
  • Effectiveness of listed metrics to track payer engagement success
  • Percentage of intelligence-gathering work involving proactive collection (targeted, directed, focused on a specific topic of interest) vs. reactive collection (unprompted, undirected, spontaneously provided by external meetings)
  • Best practices in insight sharing
  • Internal functions with whom insights are shared

II. Payer Insights and Metrics

  • Average number of Market Access associates/representatives brought in on each payer meeting
  • Average number of payers managed by each health outcome liaison (HOL) or equivalent Market Access field representative
  • Performance KPIs used by Market Access teams
  • Impact/outcomes/strategic KPIs used by Market Access teams
  • Topmost valued things provided by medical teams to payers
  • Improvement areas for medical teams to improve payer engagement


SAMPLE KEY FINDINGS
  • Avoid Overloading MSLs while Incorporating a Variety of Thought-leader Engagement Metrics: Typical averages for for KOLs per MSL are around 25. The total number of meetings continues to be the most effective form of measuring TL engagement, which can cause meetings per MSL to creep up. To prevent this, also track other highly-effective metrics like HCP-facing Webpage Visits, Online Surveys, and Reactive Outreaches in a Period

METHODOLOGY

Best Practices, LLC engaged 13 leaders from 11 leading medical device companies in this research through a benchmarking survey. Over 85% of participants serve at the director level or above.

Industries Profiled:
Medical Device; Diagnostic; Manufacturing; Health Care; Pharmaceutical; Science


Companies Profiled:
Aerin Medical; Baxter Healthcare; CDx Diagnostics; CMR Surgical; Hill-Rom; GE Healthcare; iRhythm Technologies; Inc.; MEDICEM; Tandem Diabetes Care; Teleflex; Thermo Fisher

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.