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The changing healthcare landscape has pushed the Medical Affairs function into an increasingly important role involving clinical development, regulatory compliance and market education. While the importance of the medical function is recognized, Medical Affairs leaders often find it challenging to identify strong performance metrics to demonstrate the value of their function to key internal stakeholders.
Best Practices, LLC undertook this study to help organizations find better ways to create and communicate strong Medical Affairs performance metrics to demonstrate value to leadership. Leading insights and metrics in the document will help Medical Affairs leaders create a blueprint for showing the value of the function to internal leadership.
- Study Overview
- Key Recommendations
- Key Findings & Insights
- Metrics for MA Activities to Show the Success to Stakeholders
- Communicating the Value of Medical Affairs
SAMPLE KEY METRICS
- Effectiveness of Overall Medical Affairs Metrics in communicating the value and success of the organization to stakeholders
- Effectiveness of Scientific Publications Metrics, Medical Education Metrics, Thought Leader Management, MSL Metrics and Medical/Clinical Operations Metrics in communicating the value and success of organization to stakeholders
- Relative importance of Medical Affairs activities to senior leadership
- Methods/Channels used to communicate the value of Medical Affairs activities to stakeholders
SAMPLE KEY FINDINGS
- Scientific Publication Metrics: 60% of the benchmark class thinks that % publications in top-tier journals is a highly effective metric. In addition, more than 40% of the participants agree that % papers and publications accepted is highly effective to evaluate scientific publication performance.
- Segments: We observed an important difference in perceived effectiveness of % publications in top-tier journals between MCS and the rest of the benchmark class. While one thirds of MCS doesn’t find this metric effective, rest of the benchmark class thinks that % publications in top-tier journals is highly effective or effective to measure their publication performance.
Best Practices, LLC engaged 29 executives from 26 leading life sciences companies. Segmentation analysis was key to examining trends and effective practices. 11 participants make up the Large Companies Segment, while the Mid-Size Companies Segment consists of 10 participants and Small Companies Segment consists of 8 participants.