Pharma Corporate Library Services: Financial Resources and Staffing

STUDY OVERVIEW

Shrinking budgets and increasing responsibilities add to the complexities of handling corporate library operations. Best Practices, LLC undertook this study to understand how benchmarked libraries balance budget, resource and service levels in their organization. Metrics and insights in the document will help corporate library managers in allocating the cost and staff hours to various activities. Corporate libraries can benchmark the financial resources, cost recovery practices and penetration of potential user base at their companies with those at leading organizations within the biopharmaceutical and medical device industries.

KEY TOPICS

• Financial resources
• Cost recovery practices
• Distribution of FTE hours by service category
• Penetration of potential user base

• Total library organization cost of benchmarked companies
• Cost per potential & actual user
• Cost recovery methods used
• Percentage of total FTE hours allocated by process

People Allocation: Participants allocate the most FTE hours (average 35%) to reference and research services, followed by electronic resources management at 23%. In the Pharma Segment, more FTE hours went to e-resource management (28%) than to reference & research services (27%). Print-related services took only 4% of hours for benchmark participants overall and 5% for the Pharma Segment.

METHODOLOGY

Twenty companies participated in this benchmarking study, with 12 representing the pharmaceutical/ biotech industries, 4 representing the medical device industry, and 4 representing other healthcare businesses.

Industries Profiled:
Health Care; Pharmaceutical; Diagnostic; Consulting; Research; Laboratories; Medical Device; Orthopaedics; Biotech; Chemical


Companies Profiled:
Abbott; Health Advances; Parexel; Pacific Northwest; Novo Nordisk; Tufts Center for the Study of Drug Development; Zimmer; Daiichi Sankyo; Takeda Pharmaceuticals; Boston Scientific; Teva Pharmaceutical Industries Ltd; Eisai; Vertex Pharmaceuticals; Celgene; Ipsen; Astellas; Covidien; Lilly; Boehringer Ingelheim; Cubist Pharmaceuticals

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.