Study Examines Challenge of Integrating Value into Quality Function in Global Pharmaceutical and Medical Device Companies

CHAPEL HILL, N.C., March 23, 2018 /PRNewswire/ -- Biopharmaceutical and medical device companies allocate a significant amount of resources to ensure their products meet quality standards at every stage of the product lifecycle.

Inherent in this challenging endeavor is the balancing act between managing costs and product quality while adding value for patients and healthcare providers. This environment creates a constant focus on ensuring that a quality group is efficient, effective and adding value for patients, physicians and other stakeholders.

Best Practices, LLC undertook benchmarking research to probe how quality organizations can move beyond simply ensuring product safety and compliance and deliver value. "Benchmarking Quality in the Biopharmaceutical & Medical Device Sectors," is a wide-ranging research study that probes how both global and local quality teams can deliver on all these fronts.

Some of the issues addressed in this new report include:

• How companies integrate quality into their strategic focus and priorities; use quality dashboards for executive communication; and utilize learnings from the medical device sector to inform quality improvements at biopharma companies
• How high-performing quality groups work to ensure quality integration across a global enterprise. The study addresses quality structure and global management, and quality management related to GLP/GCP/GMP and pharmacovigilance
• What are current staffing and spend benchmarks for the quality function. The study contains ratios for both quality FTEs and investment so that organizations of all sizes can compare their quality operation
• Insights on how high-performing quality groups use risk management to deal with suppliers, audits, corrective actions and performance
• How quality groups are moving to become more agile and utilizing outsourcing across their operations

The full 121-page report contains more than 600 metrics, providing quality leaders with critical benchmarks that will allow them to compare their operations with those of leading organizations.

Best Practices, LLC engaged 23 quality leaders from 23 pharma and medical device companies through a benchmarking survey. Qualitative data was collected via deep-dive interviews with quality leadership teams. This report includes segmented data for pharma and medical device companies.

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/rr1489.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.

SOURCE Best Practices, LLC

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