1<!DOCTYPE html>
2
3Anonymous
4/bestp
5/bestp/domrep.nsf
6FFA3D5477475A681002589EB004AF20E
8
9
10
11
12
13
140
15
16
17/bestp/domrep.nsf/products/db-quantifying-impact-telling-value-story-in-medical-affairs-creating-compelling-narrative-top-management?opendocument
18
19opendocument
2044.221.66.130
21
22
23www.best-in-class.com
24/bestp/domrep.nsf
25DB




» Products & Services » » Medical Affairs » Medical Affairs Excellence

Quantifying Impact & Telling the Value Story in Medical Affairs: Creating a Compelling Narrative for Top Management

ID: 5764


Features:

6 Info Graphics

11 Data Graphics

250+ Metrics

15 Narratives


Pages/Slides: 24


Published: 2023


Delivery Format: Online PDF Document


 

License Options:


Buy Now

 


  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: Click here to review a complimentary excerpt from “Quantifying Impact & Telling the Value Story in Medical Affairs: Creating a Compelling Narrative for Top Management”

STUDY OVERVIEW

As a key conduit between internal teams and external stakeholders, Medical Affairs groups play a vital role in driving success within the healthcare industry. Nevertheless, the qualitative nature of their work often requires Medical leaders to substantiate their impact and demonstrate their value to senior and organizational leadership.

Best Practices LLC undertook benchmarking research to explore how Medical Affairs leaders effectively communicate their value to the entire organization. This study probes how the use of external metrics and value-based assessments transforms Medical Affairs functions, empowering Medical Affairs professionals to create a compelling narrative that resonates with top-level management.

KEY TOPICS

  • Effective Medical Storytellers
  • Types of Impact Metrics Used
  • Measurement Hurdles
  • Key Data Sources
  • Factors for Justifying Higher Medical Affairs Investment
  • Increasing Medical Impact Over the Next 2-3 Years

KEY METRICS

  • How effective are each of the groups in presenting the story of Medical Affairs’ impact among senior leaders in the organization?
  • Which model best describes Medical Affairs’ approach to demonstrating impact to senior leaders?
  • How significant are the listed hurdles to Medical Affairs organization’s ability to measure external impact and tell a compelling value story?
  • What sources do benchmark companies rely on to capture external data and trends which reflect Medical impact?
  • Who has access to the listed performance data streams within the Medical Affairs organization?
  • How important are the listed factors when justifying Medical Affairs budget to the organization?
  • How can Medical Affairs increase overall impact in the next 2-3 years?

SAMPLE KEY FINDINGS

  • Measurement Hurdles: Significant challenges in Medical’s ability to measure impact include:
    • 88%: Inability to link Medical activities to external results is the top challenge for leaders’ ability to measure their function’s value.
    • 84%: Lack of access to external data & outcomes, as well as access to KOLs, is another top challenge.
    • 81%: Many organizations do not have a shared definition of what “impact” means, creating friction between senior leaders and those measuring the impact of Medical Affairs.

METHODOLOGY

Best Practices LLC engaged 38 Medical Affairs leaders from 31 leading pharmaceutical companies in this research through a benchmarking survey instrument. Deep-dive interviews were also conducted with Medical Affairs leaders at 10 organizations to capture additional insights.

Industries Profiled:
Health Care; Pharmaceutical; Diagnostic; Biotech; Biopharmaceutical; Medical Device; Manufacturing; Consumer Products; Chemical; Clinical Research; Laboratories


Companies Profiled:
Abbott; Adaptimmune; ASC Therapeutics; Astellas; AstraZeneca; Baxter International; Bayer; bioMerieux; Boehringer Ingelheim; Dompé; Dermavant Sciences; Eisai; Eli Lilly; Genentech; GlaxoSmithKline ; GRAIL; Grifols; Jazz Pharmaceuticals; Merck; Myovant Sciences; Novartis; Novo Nordisk; OTSUKA; Pfizer; Roche; Sage Therapeutics; Sanofi; Santen; Takeda Pharmaceuticals; Teva Pharmaceutical Industries Ltd; Vertex 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.