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

Quantifying Impact & Telling the Value Story in Medical Affairs

ID: POP-363


Features:

9 Info Graphics

57 Data Graphics

1310+ Metrics

51 Narratives


Pages: 84


Published: 2023


Delivery Format: Shipped


 

License Options:


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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Medical Affairs groups play a pivotal role in driving success within the healthcare industry. Nevertheless, quantifying the precise external impact of Medical Affairs and effectively telling the "value story" internally is a top-most challenge for most Medical leaders.

Best Practices LLC launched this benchmark study to examine how Medical Affairs groups assess their impact on external stakeholders and effectively communicate their value to the entire organization. This research evaluates 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.

Video Brief:

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

Study Snapshot

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.

Key topics covered in this report include:

  • Senior leadership’s view of Medical Affairs performance
  • Drivers of external impact
  • Measuring Medical’s storytelling ability vs. performance
  • Benchmarks related to the Impact Framework
  • Storytelling leaders: Quantitative vs. Qualitative metrics/sources
  • Measurement hurdles
  • Key data sources
  • Factors to justify higher Medical Affairs investment
  • Future indicators of Medical’s impact

Key Findings

Select key insights uncovered from this report are noted below. Detailed findings are available in the full report.

Our framework for Medical Affairs impact highlights 6 performance goals: 1. Increase Share of Voice; 2. Build Awareness; 3. Provide Knowledge; 4. Improve Reputational Score; 5. Enhance Care Model; and 6. Meet Patient Objectives

  • Meet Patient Objectives: 89% of Medical groups view Meeting Patient Objectives as important for assessing impact, and 30% achieve a high external impact as a result.
    • Top metrics include:
      • Patients diagnosed -- 30% increase in testing; time to diagnosis
      • Patients treated -- # of claims; % of patients with disease state on treatment
      • Patient-centric tactics -- Diversity in clinical trials
Table of Contents

Sr. No.
Topic
Slide No.
I.
Executive SummaryPg. 4-12
II.
Quantifying Medical ImpactPg. 13-29
III.
Telling the Medical Value StoryPg. 30-36
IV.
Summary SlidesPg. 37-40
V.
Assessing Medical Affairs Impact & Value of Each FunctionPg. 41-79
Field Medical
Medical Education
Medical Operations
Medical Information & Communications
Scientific Publications
Medical Excellence
Medical Strategy
HEOR/RWE
Patient Focused Initiatives
VI.
AppendixPg. 80-83
VII.
About Best Practices, LLCPg. 84

    List of Charts & Exhibits

    I. Executive Summary

    • Benchmark study partner companies
    • Best Practices’ impact framework
    • Key findings
    • Performance management framework
    • Access to performance data
    • Impact by individual teams

    II. Quantifying Medical Impact

    • Satisfaction of senior leadership with Medical Affairs performance
    • Crafting a compelling narrative to showcase Medical's exceptional value to leadership
    • Spectrum of impact
    • Driving impact across each of the listed external stakeholder objectives
    • Medical Affairs storytelling scorecard
    • Medical Affairs success: Average percentage of organizations that excel in each competency area
    • Benchmark metrics to measure impact and how companies fare: Increase share of voice
    • Benchmark metrics to measure impact and how companies fare: Build awareness
    • Benchmark metrics to measure impact and how companies fare: Provide knowledge
    • Benchmark metrics to measure impact and how companies fare: Improve reputational score
    • Benchmark metrics to measure impact and how companies fare: Enhance care model
    • Benchmark metrics to measure impact and how companies fare: Meet patient objectives

    III. Telling the Medical Value Story

    • Medical impact storytellers and Types of impact metrics used
    • Hurdles to Medical Affairs organization’s ability to measure external impact and tell a compelling value story
    • Key sources to capture external data and trends which reflect Medical impact
    • Critical factors for justifying Medical Affairs investments
    • How can Medical Affairs increase overall impact over the next 2-3 years

    IV. Summary Slides

    • Performance management summary
    • Template for impact

    V. Assessing Medical Affairs Impact and Value of Each Function

    • Field Medical
      • Effective metrics for measuring the value of field medical activities to the organization
      • Effectiveness of Field Medical organizations in generating measurable, external impact across each of the listed external stakeholder objectives
    • Medical Education
      • Medical Education value metrics
      • KPIs used to demonstrate the impact of medical education activities among external stakeholders
      • Effectiveness of Medical Education groups in generating measurable, external impact across each of the listed external stakeholder objectives
    • Medical Operations
      • Effectiveness of Medical Operations, Training and Governance organizations in generating measurable, external impact across each of the listed external stakeholder objectives
      • Medical Operations value metrics
      • KPIs used to demonstrate the impact of medical operations activities among external stakeholders
      • Medical Training value metrics
      • KPIs used to demonstrate the impact of medical training activities among external stakeholders
      • KPIs used to demonstrate the impact of medical governance activities among external stakeholders
    • Medical Information and Communications
      • Medical Information value metrics
      • KPIs used to demonstrate the impact of medical information activities among external stakeholders
      • Effectiveness of Medical Information groups in generating measurable, external impact across each of the listed external stakeholder objectives
    • Scientific Publications
      • Scientific Publications value metrics
      • KPIs used to demonstrate the impact of scientific publications activities among external stakeholders
      • Effectiveness of Scientific Publications teams in generating measurable, external impact across each of the listed external stakeholder objectives
    • Medical Excellence
      • Medical Excellence value metrics
      • KPIs used to demonstrate the impact of medical excellence activities among external stakeholders
      • Effectiveness of Medical Excellence groups in generating measurable, external impact across each of the listed external stakeholder objectives
    • Medical Strategy
      • Medical Strategy value metrics
      • KPIs used to demonstrate the impact of medical strategy activities among external stakeholders
      • Effectiveness of Medical Strategy groups in generating measurable, external impact across each of the listed external stakeholder objectives
    • HEOR / RWE
      • HEOR / RWE value metrics
      • KPIs used to demonstrate the impact of HEOR / RWE activities among external stakeholders
      • Effectiveness of RWD/RWE teams in generating measurable, external impact across each of the listed external stakeholder objectives
    • Patient-Focused Initiatives
      • Patient-Focused value metrics
      • KPIs used to demonstrate the impact of patient-focused activities among external stakeholders
      • Effectiveness of Patient-Focused Medical group in generating measurable, external impact across each of the listed external stakeholder objectives

    VI. Appendix

    • Geographical area represented by benchmark partners
    • Therapeutic area of focus of benchmark partners
    • Medical Affairs expertise area of benchmark partners