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Products & Services Sales and Marketing Sales Management Managing Sales Force Performance Management

Medicare Part D: Trends & Opportunities in Long Term Care Sales & Contracting Strategies

ID: 4942


Features:

9 Info Graphics

26 Data Graphics


Pages/Slides: 56


Published: Pre-2014


Delivery Format: Online PDF Document


 

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Single User: Authorizes use by the person who places the order or for whom the order was placed.

Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.




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  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • SPECIAL OFFER
Non-members: to download a complimentary excerpt of this document, please click here.


STUDY OVERVIEW

This study uncovers current and planned LTC sales force activities and contracting strategies that will inform pharmaceutical and biotechnology executives trying to ascertain the optimal way to proceed in the uncharted terrain of post-Medicare Part D legislation. This legislation has had and will continue to have far-reaching implications throughout the pharmaceutical and biotech industries. Many groups within the industry are scrambling to understand how to strategically respond to the new Part D environment.

This report will specifically aid industry executives in how best to direct their Long-Term Care sales forces and contracting strategies, which have been significantly impacted by the implementation of Medicare Part D. Executives can better develop their own Part D-prompted LTC strategies, by learning what other top pharmaceutical companies are doing or planning in the near future in such critical areas as field sales force structure, resource allocation, and contracting activities and strategies.

KEY TOPICS

  • Executive Summary & Benchmark Class Profile
  • Class Comparability Factors
  • Resource Allocation Changes
  • Stakeholder Relationships
  • LTC Contracting Activities & Strategies
  • CMS Issued Guidance Implications
  • LTC Marketing
  • Top LTC Challenges

KEY METRICS

  • Number of Promoted LTC Products
  • LTC Sales Force Size
  • Plans for Change in Field-Based Responsibilities and in Sales Staff and Budget Allocations
  • Sales Staffing Levels
  • Sales Force Structural Changes
  • Resource Shifts Following LTC Cuts
  • Training Resource Allocation Changes
  • LTC Internal Stakeholder Partnerships
  • Stakeholder Communications Frequency
  • LTC Contracting Activity Changes
  • Implemented LTC Contracting Strategies
  • Planned LTC Contracting Strategies
  • Rates of Implementation (current and planned) for:
    • Performance-Based Contracts
    • Invoice Discount Contracts
    • Compliance-based Contracts
  • Performance-based Changes last 6 months and next year
  • Invoice Discount Changes--last 6 months and next year
  • Segment Separation Strategies
  • Impact of CMS Guidance
  • Pricing Transparency
  • LTC Marketing Changes
  • Customer Management Programs

KEY FINDINGS

  • Resource Allocation Levels: 47% of respondents have increased or plan to increase Disease State Management programs.
  • Training Resource Allocation: 74% of participants are planning market segmentation training.
  • Contracting Strategies: Performance-based contracts and Invoice Discounts are equally prevalent within the LTC Pharmacy provider segment, with 40% of respondents reporting utilization of either or both contract types.


METHODOLOGY


Best Practices, LLC conducted surveys with 20 companies. The study comprised of two surveys spaced six months apart.

Industries Profiled:
Biotech; Pharmaceutical; Health Care; Medical Device; Manufacturing


Companies Profiled:
Amgen; Upsher-Smith; Talecris; Sepracor; Novo Nordisk; Abbott Laboratories; AstraZeneca; Boehringer Ingelheim; Cardinal Health; CV Therapeutics; Eisai; Forest Laboratories; Johnson & Johnson; Pfizer; Purdue; Sanofi-aventis; Schering-Plough; Ther-Rx; UCB 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.