CHAPEL HILL, N.C., July 12, 2013 /PRNewswire/ -- The patchwork of federal agencies and groups that shape healthcare policy is like an ecosystem of influence in Washington, DC. Forward-thinking biopharmaceutical companies are investing greater resources in monitoring and managing this ecosystem as they build a more strategic approach to handling healthcare policy, especially around the critical issue of reimbursement.
However, many pharmaceutical organizations are behind the curve in developing relationships with these agencies, which could place their company and portfolio at a long-term disadvantage in the U.S. marketplace. To determine best practices in understanding, translating, and engaging with federal healthcare groups, leading research and consulting firm Best Practices, LLC conducted a research project to identify and examine strategies for managing the ecosystem that guides national healthcare policy.
The resulting report, "Managing Healthcare Reform: Winning Strategies for Engaging the Government Ecosystem That Shapes Healthcare Policy," identifies best practices in organizational form, focus, and function to best position organizations for the future where the government payer is increasingly influential. The study includes three segments: Large Pharma, Mid-Sized Pharma and Emerging Pharma.
Some of the key benchmarks to surface from this study included:
- A majority of participants have formal engagement strategies for only two U.S. agencies: the Centers for Medicare and Medicaid Services and Food and Drug Administration. With respect to the Large Pharma Segment, over half have engagement strategies for CMS and FDA.
- Over half of companies (56%) identified their U.S. headquarters as the primary location for their Policy function. The Large Pharma Segment heavily favor (83%) U.S. headquarters as Policy's primary location. The Mid-Cap segment favored Washington D.C. (71%).
- A majority of all participants have engagement strategies for state-level relationships revolving around Accountable Care Organizations, state health exchanges and Medicaid offices.
The 125-page report contains more than 1,000 metrics and 27 narratives to provide biopharmaceutical leaders with an evidence-based understanding of how other companies in the pharmaceutical and medical device industries are managing the ecosystem of agencies and groups that shape U.S. healthcare guidelines and reimbursement policy.
To access the full report or to download a complimentary summary containing insights from this research, click on the following link: http://www3.best-in-class.com/rr1222.htm.
BEST PRACTICES, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis.
SOURCE Best Practices, LLC