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Medical Affairs: Determining Fair-Market Value and Measuring ROI  (PH112)

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Published 2008
119 Pages
400+ Metrics
60+ Tables, Charts and Diagrams 

  Overview

Companies Metrics Content

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Sample Content
 

The following excerpt comes from Chapter 1: “Structuring Efficient Medical Affairs Departments.” The full report contains additional details regarding companies’ medical affairs structural transitions and reporting relationships.

A Time of Transition: Medical Affairs Reorganization

A large trend in the pharmaceutical medical affairs space is the reorganization or realignment of medical affairs departments and groups. Such realignment signifies a shift away from the commercial side and a movement toward greater alignment under the clinical and scientific umbrella. To analyze this change quantitatively, Cutting Edge Information asked surveyed respondents to whom their medical affairs departments reported in 2002 and as well as to whom they report in 2008.

Several companies have maintained their previous reporting relationships — mostly those companies that had reported to departments other than commercial, before maintaining compliance became a larger focus. Figure 1.4 illustrates the number of companies that reported to the major functions of the organization — in 2002, 43% of companies’ medical affairs departments reported to the commercial/marketing side of the organization. By 2008, surveyed companies report a notable difference in reporting relationships…

 

The following is excerpted from Chapter 2: “Resourcing and Staffing”

Demonstrate Value of Medical Affairs Activities when Requesting Funding

Like any other function or department, medical affairs teams must demonstrate the value of their activities to the company in order to obtain the funding they need. Unlike marketing and commercial operations — which are able tie the value of their activities to easily measurable market results — medical affairs groups must persuade upper management of their worth in other ways. The number and type of medical publications produced over the year, for instance, is one measure of medical affairs productivity, if not of the end value that the activity brings to the company. While very few medical affairs departments have a method for formally measuring and demonstrating ROI, many have come to recognize that, when requesting funding from upper management, a clear, decisive plan of action (POA) goes a long way in winning management buy-in. In fact, the majority medical affairs departments in this study develop some form of POA to help demonstrate their budget needs and obtain funding…..

 

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