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Actionable Recommendations on Maintaining Appropriate KOL Aggregate Spending Policies:
HCP compensation requires a delicate balance, as drug and device companies must not only comply with government regulations, but also avoid the perception of “buying” HCPs’ support. One way that companies avoid this perception is by setting compensation limits, which serve as a means to ensure that no single HCP receives exorbitant compensation for performing services in a given year. With the intense government, media and public scrutiny on physician payments by the drug and device industries, companies use these limits as one more avenue to avoid the appearance of “purchasing” HCPs’ opinions.
Aggregate Spending Limit Data:
- Percentage of companies with single annual compensation caps split by activity types
- Factors in determining annual compensation limit policies
- Functions involved in approving exceptions to spending policies
- Percentage of annual compensation cap exceptions granted
- Percentage of contracted HCPs whose spending levels exceeded predetermined compensation caps
Cutting Edge Information collected data from more than 70 life sciences companies to develop this aggregate spending analysis. Our clients use the data and insights contained in this research to inform their decision making around thought leader compensation cap policy.
You may also be interested in FMVConnect: The Premier Global HCP Fair Market Value Benchmarking Solution.