New Study Demonstrates How Pharmaceutical Industry Creating Effective Global Medical Affairs Organizations
CHAPEL HILL, N.C., Jan. 9, 2015 /PRNewswire/ -- Medical Affairs has evolved into one of the most critical functions for the pharmaceutical sector.
The changing healthcare landscape has pushed the medical function into roles involving clinical development, regulatory compliance and market education. As its importance and duties have grown, Medical Affairs has faced many challenges in creating and maintaining the function as a global group. And while its importance is recognized internally, Medical Affairs leaders often find it challenging to identify strong performance metrics to demonstrate their value to key internal stakeholders.
To probe current approaches to organizing Medical Affairs capabilities globally and for showcasing the function's value internally, research and consulting leader Best Practices, LLC conducted a primary research study, "Best Practices in Developing Top-Tier Medical Affairs Capabilities, Creating Impact Measures and Improving Globalization."
The study was designed to help organizations find better ways to create and communicate strong Medical Affairs performance metrics, and to identify what companies require to create effective global capabilities for the Medical Affairs function.
In the study, participants noted that successful global Medical Affairs organizations establish deep understanding of local differences and develop the following strategies to overcome them:
- Acquiring the top talent for local affiliates
- Differentiating activities that need local focus and delegating the work to regions for these activities
Best Practices, LLC engaged 29 executives from 26 leading life sciences companies for the study. Segmentation analysis was key to examining trends and effective practices and so on relevant questions the report presents a Large Companies Segment, a Mid-Size Companies Segment and a Small Companies Segment.
Study objectives:
- Illustrate how leading Pharma and Biotech companies structure and organize their global Medical Affairs capabilities
- Highlight strategies for building and maintaining effective reporting structures for global organizations
- Understand challenges in creating successful Medical Affairs organizations
- Identify drivers of strong performance metrics
- Explore critical strategies to showcase Medical Affairs' value to executives and other internal stakeholders
Insights and metrics in the study will help Medical Affairs leaders create a blueprint for showing the value of the function to internal leadership and for understanding how to create successful global Medical Affairs organizations.
To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1328.htm.
For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's 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. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.
SOURCE Best Practices, LLC
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