Regulatory Oversight Significantly Impacting Spending at Benchmarked Healthcare Companies

CHAPEL HILL, N.C., Jan. 10, 2014 /PRNewswire/ -- More than ever, both patients and physicians are utilizing social media to find out treatment answers and to learn about new therapies. As the digital marketing function continues to flourish, organizations are increasingly investing in their Digital Marketing functions. Despite this, many healthcare companies are reluctant to quickly dive into the Digital Media environment due to complications with aligning Digital Marketing initiatives with current FDA Regulations.

Recent research by benchmarking firm, Best Practices, LLC found that more than three-fourths of companies noted that concerns over violating government regulations have had at least a significant impact on their overall Digital investment. Only 23% of benchmarked companies reported that their Digital Marketing investment decisions have remained unaffected.

The report, "Digital Marketing Excellence: Generating Top Value in an Emerging Healthcare Function," presents leaders with metrics and insights into the challenges and critical success factors of Digital Marketing groups within the healthcare sector. The research was also designed to help healthcare companies to measure and improve performance across a wide range of Digital Marketing (DM) functional areas and activities.

Key study topics include:

• Performance And Tracking For Greater Effectiveness
• Making The Value Case For The Digital Marketing Function Within The Organization
• Identifying & Mitigating Top Regulatory Risks
• Optimizing The DM Function Structure For High Performance
• Critical Trends In Talent Recruitment & Skills Development
• Piloting New Digital Services
• Digital Investment: Staffing & Budget Trends

This benchmarking research drew participation from 31 respondents from 28 pharmaceutical, medical device, and biotech companies.  More than half of the respondents are directors, senior directors or vice presidents.

To access the full report, or to download a complimentary summary containing insights found in this report, click on the following link: http://www.best-in-class.com/rr1260.htm.

For more information on other recent primary research studies, contact us at 919.403.0251. For related research, visit our Best Practices, LLC website at http://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. 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

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