Navigating in a Changing Landscape<br />The Top 6 Challenges for Thought Leader Development Teams <br />Presented by:<br /...
About Cutting Edge Information<br />Founded in 2002 to provide benchmarking and competitive intelligence services<br />Foc...
 Customized research
 Capabilities assessments
 Executive presentations </li></li></ul><li>Our History with KOL Research<br />Key opinion leader development benchmarking...
Conflicts of Interest<br />Major events affecting Pharma’s relationship with opinion leaders:<br />Fair-market value compe...
Our Recent Studies<br />Thought Leader Fair-Market Value<br />KOL Relationship Management<br />
The Top 6 Challenges<br />1<br />Greater Transparency<br />2<br />Establishing Fair-Market Value Procedures<br />3<br />St...
Challenge 1: Greater Transparency<br />The following factors support the existence of a bona fide consulting arrangement (...
Challenge 1: Greater Transparency<br />
Challenge 1: Greater Transparency<br />New compensation strategies are the next step for the industry.<br />No more giftin...
Challenge 2: Establishing FMV Procedures<br />“We are under the microscope right now as an industry.”<br />- Interviewed T...
Challenge 2: Establishing FMV Procedures<br />Incorporate these steps in your FMV process:<br />Work with your compliance ...
Challenge 2: Establishing FMV Procedures<br />Gathering FMV benchmarks:<br /><ul><li> 300+ data tables of FMV benchmarks
 19 therapeutic areas
 Fair market value compensation for:
 Expert-in-Field
 Specialist
 Subspecialist
 Surgeon
 Primary Care Physician
 Allied Health Professional
 Family/General Practitioner
 Physician Assistant
 Internal Medicine
 Nurse
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Navigating In A Changing Landscape Top 6 Challenges For Thought Leader Development Teams

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Slides from Cutting Edge Information\'s first webinar on the Top 6 Challenges facing thought leader development teams. First delivered in July 2009.

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Navigating In A Changing Landscape Top 6 Challenges For Thought Leader Development Teams

  1. 1. Navigating in a Changing Landscape<br />The Top 6 Challenges for Thought Leader Development Teams <br />Presented by:<br />Elio Evangelista<br />Research Manager<br />1000 Park Forty Plaza, Suite 440 Durham, NC 27701 www.cuttingedgeinfo.com<br />
  2. 2. About Cutting Edge Information<br />Founded in 2002 to provide benchmarking and competitive intelligence services<br />Focus on conducting high-quality, implementable real-company consulting and training for the pharmaceutical industry.<br />Founded by consultants with extensive experience conducting pharmaceutical research studies for high-level clients.  <br />Services include:<br /><ul><li> Research reports for decision support
  3. 3. Customized research
  4. 4. Capabilities assessments
  5. 5. Executive presentations </li></li></ul><li>Our History with KOL Research<br />Key opinion leader development benchmarking and analysis has been a cornerstone of our research library since Cutting Edge Information’s earliest days:<br />Topics covered:<br />Department resources<br />Strategy development<br />Identification and segmentation<br />KOL targeting<br />Relationship management<br />Compensation<br />
  6. 6. Conflicts of Interest<br />Major events affecting Pharma’s relationship with opinion leaders:<br />Fair-market value compensation<br />State reporting laws<br />Academic institution restrictions<br />The Sunshine Act<br />New PhRMA code<br />Journal publication requirements<br />ACCME policy changes<br />Fewer KOLs Available<br />
  7. 7. Our Recent Studies<br />Thought Leader Fair-Market Value<br />KOL Relationship Management<br />
  8. 8. The Top 6 Challenges<br />1<br />Greater Transparency<br />2<br />Establishing Fair-Market Value Procedures<br />3<br />State Disclosure Laws <br />4<br />Stringent Journal Requirements<br />5<br />ACCME Restrictions<br />6<br />The Shrinking KOL Pool<br />
  9. 9. Challenge 1: Greater Transparency<br />The following factors support the existence of a bona fide consulting arrangement (not all factors may be relevant to any particular arrangement):<br />A written contract of the consulting services and basis for payment<br />A legitimate need for the consulting services identified in advance<br />Consultants meet pre-existing criteria and have the necessary expertise<br />A reasonable number or healthcare professionals retained<br />The company maintains records of the services rendered<br />All meetings with consultants relate to the consulting services outlined in the contract<br />
  10. 10. Challenge 1: Greater Transparency<br />
  11. 11.
  12. 12. Challenge 1: Greater Transparency<br />New compensation strategies are the next step for the industry.<br />No more gifting<br />Integrated compensation approach<br />Physician spend tracking<br />Greater reliance on fee schedules<br />Public disclosures<br />
  13. 13. Challenge 2: Establishing FMV Procedures<br />“We are under the microscope right now as an industry.”<br />- Interviewed Thought Leader Management Executive<br />
  14. 14. Challenge 2: Establishing FMV Procedures<br />Incorporate these steps in your FMV process:<br />Work with your compliance team<br />Start with annual salary data<br />Gather FMV benchmarks<br />Incorporate qualitative research to add context to FMV data<br />Develop a codified fee schedule<br />Tie fee schedules to segmentation data<br />
  15. 15. Challenge 2: Establishing FMV Procedures<br />Gathering FMV benchmarks:<br /><ul><li> 300+ data tables of FMV benchmarks
  16. 16. 19 therapeutic areas
  17. 17. Fair market value compensation for:
  18. 18. Expert-in-Field
  19. 19. Specialist
  20. 20. Subspecialist
  21. 21. Surgeon
  22. 22. Primary Care Physician
  23. 23. Allied Health Professional
  24. 24. Family/General Practitioner
  25. 25. Physician Assistant
  26. 26. Internal Medicine
  27. 27. Nurse
  28. 28. Nurse Practitioner
  29. 29. OB/GYN
  30. 30. Pediatrician
  31. 31. Certified Diabetes Educator
  32. 32. Dietician
  33. 33. Professional Healthcare Educator
  34. 34. Social Worker</li></li></ul><li>Challenge 2: Establishing FMV Procedures<br />Annual salary data:<br />* - Based on a 50-hour work week<br />†Source: American Medical Group Association (AMGA)<br />
  35. 35. Challenge 2: Establishing FMV Procedures<br />Annual salary data vs. FMV benchmarks:<br />
  36. 36. Challenge 2: Establishing FMV Procedures<br />Influential factors for segmenting thought leaders:<br />
  37. 37. Challenge 3: State Disclosure Laws<br />States that have proposed laws on physician disclosures<br />States with laws regulating physician spending<br />
  38. 38. Challenge 3: State Disclosure Laws<br />The impact on thought leader compensation:<br />Average Hourly Rate<br />Company Size<br />
  39. 39. Challenge 3: State Disclosure Laws<br />The rash of state regulations has prompted some common responses:<br />Companies are avoiding thought leader relationships with physicians in states with complex spend tracking laws.<br />Monitoring changes in these states’ laws has created a burden of extra work at pharmaceutical companies.<br />Many pharmaceutical and biotechnology companies now support passage of the federal Physician Payments Sunshine Act, introduced by US Senators Charles Grassley and Herbert Kohl.<br />
  40. 40. Challenge 3: State Disclosure Laws<br />The impact on thought leader management teams:<br />State disclosure laws have not had a great impact on KOL relationships … yet<br />State disclosure laws have led to better documentation systems<br />
  41. 41. Challenge 4: Stringent Journal Requirements <br />“For industry-sponsored studies, an analysis of the data (based on the entire raw data set and evaluation of the study protocol, and prespecified plan for data analysis) must be conducted by an independent statistician at an academic institution, rather than by statisticians employed by the sponsor or by a commercial contract research organization.”<br />- JAMA Instructions for Authors<br />
  42. 42. Challenge 5: ACCME Restrictions<br />Standards to Ensure Independence in CME Activities:<br />The provider must be able to show that everyone who is in a position to control the content of an education activity has disclosed all relevant financial relationships with any commercial interest to the provider.<br />2.1<br />The provider must make all decisions regarding the disposition and disbursement of commercial support.<br />3.1<br />Presentations must give a balanced view of therapeutic options. Use of generic names will contribute to this impartiality.<br />5.2<br />
  43. 43. Challenge 6: The Shrinking KOL Pool<br />
  44. 44.
  45. 45. Challenge 6: The Shrinking KOL Pool<br />
  46. 46. Challenge 6: The Shrinking KOL Pool<br />Provide top-notch opportunities <br />Research<br />Innovation<br />Development<br />Exposure<br />
  47. 47. Presented by:<br />Elio Evangelista<br />Research Manager<br />Cutting Edge Information<br />elio_evangelista@cuttingedgeinfo.com<br />p. +1 919.403.6583<br />1000 Park Forty Plaza, Suite 440<br />Durham, NC 27701<br />www.cuttingedgeinfo.com<br />

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