Pharmaceutical and Medical Device Companies Shift Medical Education Focus into Emerging Markets

CHAPEL HILL, N.C., Feb. 3, 2012 /PRNewswire/ -- In the current environment, medical education groups are faced with the challenge of holding down costs while adding new programs and expanding into emerging markets. As a result, pharmaceutical and medical device leaders are beginning to leverage their resources in these emerging areas, such as China and India, in order to help fuel overall growth.

Medical Device companies only allocate 7.5% of their Medical Education FTEs to the Asia-emerging areas and an even smaller percentage of their Medical Education budget, 6.4%, according to primary research on "Professional Medical Education Excellence: Structures, Resources, Services & Performance Levels to Optimize" conducted by Best Practices, LLC. Similarly, pharmaceutical companies offer even greater potential for growth into emerging markets, as they currently dedicate only 1.9% of their Medical Education FTEs and budget to these geographic areas.

Download a complimentary white paper at http://www3.best-in-class.com/rr1143.htm that includes selected best practices drawn from extensive primary research with executives from 35 leading companies, including 10 medical device firms and 25 pharma companies. In addition, more than 80 percent of the benchmark class includes executives at the Vice President and Director levels.

Study topics include:

• Organizational Fit & Geographic Focus
• Staffing Benchmarks & Program Trends
• Roles for Key Activities & Program Deployment
• Budget Benchmarks & Allocation Trends
• Trends & Directions

The full 85-page report contains over 350 benchmark metrics and more than 17 narratives, delivering benchmarks around medical education groups' geographic focus, utilization of staff, and outsourcing of program creation and deployment provided by 40 top medical education leaders.

Specifically, this primary research analyzes a broad range of medical education factors -- including staffing, services, structures, and investments – that will allow Medical Education leadership to evaluate an organization's resource levels relative to other market leaders. This benchmark study provides medical education leaders with important benchmarks to ensure their education group's structure, staffing and program development are well aligned to maximize resources while meeting needs.

For more information on this study and other recent primary research studies, contact us at 919.403.0251 or at [email protected].

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.

Best Practices, LLC believes in the 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.

SOURCE Best Practices, LLC