Market Research Structures and Activities That Optimize Payer Access & Insights

Aug 09, 2011, 16:40 ET from Best Practices, LLC

CHAPEL HILL, N.C., Aug. 9, 2011 /PRNewswire/ -- Pharmaceutical companies need a nimble market research group to track, analyze and report on the fast-moving managed markets sector. To keep up with the changing payer landscape, pharmaceutical companies are asking that market research groups provide managers and executives with tactics that will help organizations meet the needs and wants of payers.

Recognizing the impact that market research groups can have on managed markets tactics and strategies, Best Practices, LLC has published a new data-rich written report to help biopharma executives navigate the new payer-oriented world.

"Understanding Managed Markets: Effective Market Research Structures & Activities to Maximize Payer Access & Insights" examines issues around the structure, staffing and activities of the market research function serving the managed markets group.

While the 67-page study confirms that account managers play a vital part in payer relationships, it also shows how the account manager role has evolved to include things such assembling and managing clinically-focused teams to approach accounts on a peer-to-peer basis.

One EVP noted this tactic has created focused, peer-to-peer discussions that resonated well with customers:

"The best thing I get is when I bring in my team and I'm talking to the most senior team there, because I've moved past any type of transactional discussion and I'm into what's happening in the market," said an interviewed executive vice president. "If you're really tight at the very top you get some great insight that can really help you out – pricing, products that you should do Phase 4 on, all those type of things. It's more of a market discussion with as high level a team as you can get in there. You can get to some of that with the ad boards, but not everything you need." - Interviewed Executive Vice President.

This study, which features 600+ metrics and 50 narratives such as the one above, is based on an analysis of survey results and interview content collected from 11 leading biopharma companies.

Best Practices, LLC initiated this research to help leaders of Market Research and Managed Markets functions at pharmaceutical, biotech and medical device organizations identify tactics and critical success factors for effectively accessing and acting upon the needs of third-party commercial and government payers.

To download a complimentary excerpt of this report, go to: http://www3.best-in-class.com/rr1104.htm.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for 17 years; our clients include 46 out of the top 50 pharmaceutical companies. For more information visit: http://www3.best-in-class.com.

SOURCE Best Practices, LLC



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