Managed Markets Account Managers

Fortify Payer Relationships Secure Product Profitability

Managed Markets Account Managers

$995.00

Improve managed markets strategy and ensure team success by emphasizing payers’ needs and working through account managers to meet those needs.

  • Establish a team that addresses payers’ needs and protects the company’s profitability.
  • Reach out to payers more effectively, especially as they seek substantial value dossiers.
  • Hire the ideal managed market account managers in terms of professional/educational experience and background

 

  • Description
  • Additional information

REPORT HIGHLIGHTS

In today’s reimbursement-driven landscape, the managed markets account manager proves value by conveying critical drug data to payers. Successful managed markets groups work closely with other internal functions — including clinical, market access and medical affairs — to develop and deliver a consistent product value story. In today’s reimbursement-driven landscape, the managed markets account manager proves value by conveying critical drug data to payers. Successful managed markets groups work closely with other internal functions — including clinical, market access and medical affairs — to develop and deliver a consistent product value story.

Managed Market Account Managers: Fortify Payer Relationships to Secure Product Profitability

  • Publication Date: May 2014
  • Pages: 115
  • Chapters: 3
  • Metrics: 500+
  • Charts/Graphics: 83

Data have been split by company size:

  • Top 50
  • Small

Data splits also include the following launch regions:

  • US
  • Europe/EU
  • Emerging Markets

Report features:

  • Data and diagrams showing reporting relationships and managed markets group structures
  • Product lifecycle involvement for managed markets groups and account managers
  • Benchmarks on managed markets account manager budgets and spending
  • Benchmarks and best practices for hiring and compensating managed markets account managers
  • Strategic reccomendations and benchmarks for improving communication and relationship-building with payers
  • Data shosing levels of scientific/clinical support that account managers receive from MSLs and other liaisons
  • Strategic recommendations and benchmarks for improving communication and relationship-building with payers
Reason To Buy

Improve Payer Meeting Outcomes: Successful meetings between payers and account managers are often the deciding factor in earning formulary status for a product.  This report outlines a “game plan” to prepare for and enter payer meetings.  It details the types of meetings account managers have with payers, as well as their frequency and duration.  The payer’s contact person will often affect the type of message that account managers present.  Companies must plan ahead to tailor each meeting to their clients’ priorities.  Above all, the best practices and insights contained in the study show how account managers focus on the depth of content in each meeting so that they offer robust data and instill payer confidence.

Establish a Surefire Approach to Building Payer Relationships: Personalized presentations are the single-most successful method to building strong payer relationships.  Account managers who can first identify and then address individual payer needs will show their clients that they understand the payer’s interests and priorities. This report includes benchmarks on when managed markets account managers should begin to talk to payers about new products.  It also explores best practices that managed markets account managers employ to unify outbound messages to key customer groups.

Support Account Managers with Scientific Expertise: The research conducted for this study found that 71% of companies support their managed markets account managers with field-based liaison teams.  In many cases, companies also employ health outcomes liaisons or managed care liaisons to provide scientific support to the value dossier presentation.  This study illustrates the value of incorporating MSLs and other scientific experts to support account managers and even present scientific data directly to payers.

Report Features

With the continual increase in the value of pay relationships, life sciences companies need effective and efficient infrastructures to meet payers' growing needs. Companies' internal managed markets organizations must be structured to work closely across clinical, market access and medical affairs groups. This collaboration ensures that companies communicate consistent messages that justify current prices and present their products' value to payers.

Target Audience

This report will help managed markets groups create managed markets account management teams and will also inform decision making for groups such as marketing/commercial teams, clinical development/operations teams and medical affairs teams (including HEOR, HOLs and field-based medical teams)

Chapter Example

To drive managed markets initiatives, companies must be able to unify outbound messages and also emphasize the importance of strong payer relationships. To foster these key elements, high level executives — such as vice presidents and the C-suite — are often given ultimate responsibility for these groups. However, managed markets account managers do not report directly to these managed markets heads. Instead, account managers typically report into a third-tier managed markets executive.

Among surveyed companies, directors are most often positioned as direct supervisors for US managed markets account managers,
at 40% (Figure 1.1).
• Managers directly supervise these account managers at 30% of surveyed companies.
• Vice presidents supervise them at 20% of surveyed companies.
• Only one surveyed company employs a senior director to supervise US managed markets account managers