Medical Affairs Consortium 2014
 

Medical Affairs Consortium 2014

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Best Practices' 2014 Medical Affairs Consortium is delving deeper into the many challenges that leaders are facing throughout the Pharma, Biotech, and Medical Device companies. For more information, ...

Best Practices' 2014 Medical Affairs Consortium is delving deeper into the many challenges that leaders are facing throughout the Pharma, Biotech, and Medical Device companies. For more information, view our website: http://www.best-in-class.com/medical-affairs-consortium

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  • Thank you for your time today. During our call I would like to share some recent data and insights from your peers in Medical Affairs. As you can see we work with many pharmaceutical organizations focusing on the challenges that they face. There are several core areas that we address including Medical Affairs. <br />
  • The Medical Affairs Consortium will help Medical Affairs Leaders by answering 3 key questions: <br /> 1. How can we structure for success <br /> 2. How do we navigating through compliance <br /> 3. What are the best ways to Demonstrate our value to the Business <br />
  • Here is a brief overview of our Project Methodology. A client will come to us with a particular challenge, in this case, how to develop a best-in-class Medical Affairs Function. We partner with our client to help them articulate the key business issue that they are facing, develop a survey instrument to gather data, connect the client with a peer benchmark group and lastly, analyze the data and provide key recommendations to move forward. <br />
  • Here is a brief overview of our Project Methodology. A client will come to us with a particular challenge, in this case, how to develop a best-in-class Medical Affairs Function. We partner with our client to help them articulate the key business issue that they are facing, develop a survey instrument to gather data, connect the client with a peer benchmark group and lastly, analyze the data and provide key recommendations to move forward. <br />
  • Conventional: The conventional Approach has been to grow with the organization and leadership. Traditionally, companies start with a focus on setting up to be a support function without thinking about the Value they can deliver to the organization. Many of our partners stated that they have a medical affairs organization in place because “the corporation says we need one, so we have one” <br /> The chart on this page illustrates the traditional stages/evolution that Medical Affairs Functions go through. If you’re just growing with the organization, then you will eventually hit a ceiling in terms of resources, investments, and the ability to drive value. It’s only a matter of time before your investments will be challenged as products mature. <br />
  • Through our survey and conversations with over 50 Medical Affairs Leaders, we identified several key challenges that they are facing: <br /> -How to structure the function for success, <br /> -Navigating through ever-changing regulatory requirements, <br /> - Moving from a support only function to a Strategic Partner, <br /> Ultimately this about how the Medical Affairs Function delivers and communicates value to the Business. <br />
  • Most organizations begin with gaining support from Senior Leadership and therefore getting adequate resources, but as you can see there are many other Critical Success factors that Medical Affairs Leaders need to be focusing on. This is the pathway to developing a successful and valuable function – as identified by your peers. <br />
  • The Medical Affairs Consortium will give you access to: <br /> -Our Medical Affairs Database <br /> -Participation in and access to ongoing support on Medical Affairs Excellence which will include guiding the survey questions <br /> -Quarterly Webinars by our Advisors as well as peer Medical Affairs Leaders from leading companies <br /> -Customized “Health” Check within Each Report – see where you stand across the benchmark <br /> -Access to Best Practices Research Advisors – call on our Advisors to understand how others are using the data and insights from the research <br /> -Monthly Newsletter collecting key Insights from our research <br />
  • Thank you for your time today. During our call I would like to share some recent data and insights from your peers in Medical Affairs. As you can see we work with many pharmaceutical organizations focusing on the challenges that they face. There are several core areas that we address including Medical Affairs. <br />

Medical Affairs Consortium 2014 Medical Affairs Consortium 2014 Presentation Transcript

  • Best Practices Medical Affairs – Accessing Intelligence Our company works on the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. • 300,000+ Business Professionals • 86% of Fortune 100 Companies • $40 million+ in benchmarking analysis, insights and findings Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Range and Depth of our Medical Affairs Support Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Best Practices Medical Affairs Services Our business model is geared to address your critical issues. You set the research agenda. We design and deliver benchmark tools across many different companies to identify your specific performance gaps and growth opportunities. How do we make the most of Medical Affairs? How do we make the most of Medical Affairs? Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Best Practices Medical Affairs Consortium – Benefits BENEFITS OF JOINING THE MEDICAL AFFAIRS CONSORTIUM 2013-2014 Best Practices’ Medical Affairs Consortium Topics •Roundtable-I: Showing the value of the medical affairs group to the organization •Roundtable-II: Creating an effective fieldbased medical team •Roundtable-III: Thought Leader Relationship Management Executives That Can Benefit From The Medical Affairs Consortium •Executives with high-level questions regarding medical affairs trends •Executives who are interested in learning from the best practices in other organizations in a secure environment Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Medical Affairs Consortium – Project Methodology HERE’S HOW WE HELPED OUR MEDICAL AFFAIRS CONSORTIUM MEMBERS Client Issue: This research was designed for our members to probe the effective ways of structuring and aligning Medical Affairs. Ultimately, the client wanted to identify how other Medical Affairs executives build their value proposition and garner additional resources. Field Research Process Project Shaping Benchmark Survey Lessons Learned Secondary Research • Identify industry business Issues • Identify industry needs & objectives • Articulate key issues to probe in field research • Scope and scale project • Engage all constituents • Engineer key issues into operational questions • Combine performance metrics with process • Engage leading companies • Engineer for ease of response • Use to screen higher performers • Conduct secondary research within the Best Practices, LLC’s database, interview archive and other resources. • Probe soft factors that drive success and failure • Process insights • What would you do differently? • Lessons learned Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com Best Practice Blueprint for Excellence • Integrate qualitative and quantitative insights • Conduct analysis • Prepare key recommendations • Integrate “best of the best” practices • Identify key pitfalls to avoid failure • Share lessons learned
  • Medical Affairs Consortium – Timeline Month-I Month-II Month-III Month-IV Month-V Month-VI Month-VII Month-VIII Month-IX Month-X Month-XI Month- XII 1st RT* 30-45 days 3rd RT* 2nd RT* Survey Creation and Launch 75-90 days Data Analysis, Secondary Research & 1st Roundtable Client Deliverable 30 days 1st Roundtable Summary Deliverable 45-60 days 30 days Data Analysis, Secondary 2nd Roundtable Research & Summary nd 2 Roundtable Deliverable Client Deliverable * Note: RT= Roundtable The roundtable times are open to change (15-day range) for adjustment to members’ schedules. Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com 45-60 days Data Analysis, 30 days Secondary rd Research & 3 Roundtable Summary 3rd Roundtable Deliverable Client Deliverable
  • Medical Affairs Function: Maturation Process Medical Affairs Management Groups in the formative stage can learn from the less lean, more established groups in our study.       MA in Formative Stage: Medical Affairs infancy Executive Committee Reporting structure Mainly based on Clinical Ops/ Med Ed Expanding Field groups Dependent on Commercial Growing because of pipeline or emergence of medical need at company or in region  500K – 5M spend  1-10 FTEs      Escalating MA Capabilities: Definitive metrics for MA value proposition Global reach, but clear compliance guidelines Strong MSL group, increased clinical bandwidth and expanded role beyond handling off-label issues Reports to R&D/Clinical Increase in FTEs and staffing because of more requests “It does matter how big of a company you are. You reach a threshold where you are having enough success [and] all of a sudden the requests and the level that you have to satisfy are different.” – Interviewed Senior Director  5M – 75M spend  11-120 FTEs Medical Affairs Functional Maturity Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com Established MA:  Independent, but aligned     with Commercial Differentiated MSLs targeting specific groups Strong Health Outcomes group within department High visibility of all Medical Affairs functions Struggling to fight for head count, usually because of maturation of products  75M+ spend  120+ FTEs
  • Medical Affairs Function: Leadership Medical Affairs’ leadership is on the rise with 80% above director level within the Mature Markets Segment. Leadership Mature Markets Segment (n=20) Emerging Markets Segment (n=7) *Other: Chief Scientific Officer, Head Of Medical Affairs. 1: “Best Practices’ Report: Building Best-In-Class Capabilities For Medical Affairs” Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com 8
  • Medical Affairs Function: Challenges Confronting The Leaders Hierarchy of Impact: Identifying Challenges with Greatest Impact Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Medical Affairs Function: Change In Medical Affairs Budgets Medical / Scientific Liaisons, Thought Leader Management and Outcomes Research are the fastest growing investment areas as % of Medical Affairs budget. Trends Of Important Budget Allocation Areas Medical / Scientific Liaisons Thought Leader Management Outcomes Research EFFECTIVE COMMUNICATION WITH KEY DECISION MAKERS Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com 10
  • Field Medical Team: Value Of Activities Value of field medical team activities is different for internal and external stakeholders. Value For Internal Stakeholders Value For External Stakeholders* Higher Value Scientific Interactions Scientific Interactions Thought leader management Clinical trial related activities Speaker training & development Managed care / formulary support Managed care / formulary support Product and pipeline communication Interaction with national associations & societies Congress support and attendance Gather competitive intelligence Speaker training and development Lower Value *Note: Several studies with key thought leaders from Best Practices’ database Internal Stakeholders: Medical Affairs, Commercial, R&D and Clinical employees including all the different levels and those who are related to the medical affairs function. External Stakeholders: Payers and Providers. Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com 11
  • Field Medical Team: Skills and Competencies Acquisition of the right talent is crucial for strong field medical team capabilities. “The practical reality is who and how we hire people and the people we have , how do we train and manage them. In the world of the past it was about deep scientific knowledge expertise and the ability to interact at an individual peer to peer level. That is still there, but the scope of the role has expanded.”* - Interviewed Vice President Skill: Strong communication capabilities Thought Leader Mgmt. Skill: Operate effectively under strict regulations Managed Market / Formulary Support Skill: Strong knowledge and experience with health outcomes data. Product Lifecycle Planning Support Core Responsibilities Clinical Trial Support Skill: Strong scientific and technical skills Scientific Interaction With Payers and Providers *Source: Building Practices®, LLC ♦ 6350 Quadrangle Drive,–Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com Copyright © Best Best-In-Class Capabilities In Medical Affairs 2012 . Skill: Partner with commercial and R&D colleagues Sales and Marketing Support Skill: Familiarity with commercialization process and market dynamics 12
  • Field Medical Team: Budget Breakdown Salaries capture the highest percentage of the Medical Affairs spend with 59% in the mature markets segment and 49% in the emerging markets segment. Budget Breakdown Mature Markets Emerging Markets (n=15) Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com (n=7) 13
  • Critical Success Factors For An Effective Medical Affairs Function Ten key themes shared by benchmark partners for developing and maintaining an effective Medical Affairs function: Critical Success Factors for Effective Medical Affairs Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Best Practices Medical Affairs Consortium All consortium members participate in creating the study. Take a look at these other benefits: Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Competitive Benchmarking Helps You Mine For Your Advantage Best Practice Benchmarking® is a powerful tool to gain competitive insight. We develop “Market Topography Maps” that use evidence-based benchmarks to analyze your competitive landscape. We spotlight your strengths and weaknesses. Then we recommend how to avoid failure points and build on your advantages! DIFFERENT BENCHMARKS YIELD DIFFERENT INSIGHTS Benchmarking is #1 Most Used Global Mgt. Tool . (Source: Bain & Co. 2011 Mgt. Tools & Trends Census) Yet most companies fail to use benchmarking to their full advantage. We have developed more than 25 types of benchmarks to help clients look forward and build winning strategies, tactics & plans. Ask us what approach is right for your competitive situation. Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com
  • Best Practices, LLC Medical Affairs – Accessing Intelligence Best Practices, LLC is a research, consulting and publishing firm that works with 48 of the 50 leading life sciences companies. Our database holds more than 4,000 research documents with a value of more than $40 Million+ in primary research. Our benchmarking products provide clients with access and intelligence to achieve performance excellence and avoid pitfalls. Our Products & Services Description Immediate Benefits Benchmarking Reports Benchmarking reports are for fast and effective access to fully comprehensive research projects Understand and apply crucial benchmark metrics and lessons learned Find out actionable best practices via process maps, info graphics and case studies Best Practice Database Online database provides clients with access to $40 Million+ Best Practice benchmark research and case studies Save time through powerful search capabilities for ongoing key business issues Access to latest research, and top trends in the various areas of life sciences sector Research & Consulting Custom research and consulting service is a great fit for complex business areas such as; strategy, trends, budgeting & staffing levels, performance measures, process & organizational structure @BestPracticesNC Explore answers from 300,000+ industry leaders and insights to critical questions through customized research focusing on productivity and world-class excellence Bestpracticesllc Copyright © Best Practices®, LLC ♦ 6350 Quadrangle Drive, Suite 200,♦ Chapel Hill, NC 27517 ♦ Ph.: 919-403-0251 ♦ www.best-in-class.com www.whybenchmarking.com