Using KOL Segmentation to Diversify Thought Leader Pools

Victoria Cavicchi, pharmaceutical social media researcher
By Victoria Cavicchi,
Senior Research Analyst

When determining a thought leader’s fair market value, life sciences companies must first consider a physician’s scope of influence.  This determination is often influenced by a key opinion leader’s years of experience, their number of scientific publications or their career history.  These factors contribute to companies’ KOL segmentation practices, which are key to determining physician FMV.  Continue reading


EFPIA Member Companies and Associations Prepare for Transfer of Value Disclosures in 2016

Sarah Ray, regulatory affairs and safety researcher
By Sarah Ray,
Senior Research Analyst

With 2016 off to a start, it’s time to take a look at the increasing number of countries requiring life science teams to publicly disclose any payments provided to either physicians or healthcare organizations.  The European Federation of Pharmaceutical Industries and Associations (EFPIA) mandated countries with member associations to adopt its code on disclosing payments made to healthcare professionals and organizations no later than December 31, 2013.  However, the EFPIA value disclosures did not require member companies to begin collecting payment information until 2015.  Life science companies that are EFPIA members began documenting transfers of value as of the first of the year and are set to disclose these payments no later than June 30, 2016.  Continue reading


Physician Fair Market Value with FMVConnect

Natalie DeMasi, clinical development and medical affairs researcher
By Natalie DeMasi,
Senior Research Analyst

Determining fair market value (FMV) payments to healthcare professionals for speeches, advisory boards or consulting can be at best a minor effort and at worst a major compliance headache.  FMV rates will vary by the speaker’s country, tier, type of activity and therapeutic area, meaning that teams may have to evaluate different rates for each individual speaker working at a given event.  Life sciences companies can turn to Cutting Edge Information to make FMV evaluations as painless as possible. Continue reading


Establishing KOL Travel Compensation at Fair Market Value

Victoria Cavicchi, pharmaceutical social media researcher
By Victoria Cavicchi,
Senior Research Analyst

In the course of working with pharmaceutical companies, many key opinion leaders must travel to contribute to advisory boards or speaking events.  As such, firms must determine how to compensate physicians for the time and cost of this travel.  However, there is no industry standard for KOL travel compensation.

Through its fair market value research, Cutting Edge Information talked to several life sciences executives regarding key opinion leader travel compensation.  When working with KOLs, companies’ travel considerations fall into two different categories: Some companies compensate for activities or meeting expenses only while others provide for these expenses as well as travel honoraria. Continue reading


Effective Utilization of Key Opinion Leader Tiers

Jacob Presson, pharmaceutical market access researcher
By Jacob Presson,
Senior Research Analyst

Many pharmaceutical and life science companies have a three tier system in place for determining key opinion leaders’ fair market value.  Companies also typically have an “exceptional” tier for those that go beyond a tier 1 level of influence.  Among those participating in our research, almost 20% do not have rates or procedures in place for the exceptional tier, sticking with the 3 tiers, typically in order from tier 3 at the local level to tier 1 at the global level of influence.  Continue reading


Defining Appropriate Fair Market Value for Specific KOL Activities

Victoria Cavicchi, pharmaceutical social media researcher
By Victoria Cavicchi,
Senior Research Analyst

Collaboration with physicians and top thought leaders is key to many life sciences operations.  From speaker programs to clinical trials, key opinion leaders (KOL) take on critical tasks to help pharmaceutical and medical device companies develop the best possible products and educate the healthcare audience.  However, life sciences companies must take a number of factors into consideration when determining fair market value for specific KOL activities.  In addition to a doctor’s geography and sphere of influence, companies should also consider the type of tasks that they are asking KOLs to perform. Continue reading


Exploring Geographic Trends in Fair Market Value Compensation Rates

Jacob Presson, pharmaceutical market access researcher
By Jacob Presson,
Senior Research Analyst

One of the biggest challenges when determining what constitutes fair market value (FMV) rates among healthcare providers is understanding the geographic differences that occur around the world.  While there will always be some variation between therapeutic areas and for different types of activities, there are some broad trends in these geographic shifts that we will explore here. Continue reading


Criteria for Establishing Fair Market Value Rates

Jacob Presson, pharmaceutical market access researcher
By Jacob Presson,
Senior Research Analyst

As companies begin to build documentation for fair market value rates, there are four main variables that they must take into account when establishing what rate is appropriate for a specific activity.  The primary criteria are the country, the activity, the tiering of the thought leader, and the specialist involved.  Successful application of FMV rates requires accounting for all four variables. Continue reading


Determining Physician Fair Market Value for Specialist Thought Leaders

Victoria Cavicchi, pharmaceutical social media researcher
By Victoria Cavicchi,
Senior Research Analyst

When determining physician fair market value, life sciences organizations must consider a number of factors, including the doctor’s specialty area, geography and level of expertise.  As firms work to determine fair market value and standardize rate cards, they must also decide physician segmentation criteria.  Many firms look to three-tier segmentation systems to distinguish KOL compensation.  Continue reading


The US Sunshine Act’s Impact on Pharma’s Product-Oriented Activities

Victoria Cavicchi, pharmaceutical social media researcher
By Victoria Cavicchi,
Senior Research Analyst

As the US Physician Payment Sunshine Act evolved into its finalized form, many pharmaceutical and medical device companies worried what impact this legislation would have on its interactions with doctors.  Pharma has a longstanding relationship with physicians in its speaker programs and advisory boards.  However, as US operations must now track and report all payments made to physicians, many worried that recruiting doctors to take on these tasks may prove difficult. Continue reading