Study Examines Current Approaches to Creating a Strategic Thought Leader Management System for Pharmaceutical Companies

CHAPEL HILL, N.C., Dec. 4, 2015 /PRNewswire/ -- As therapeutic areas become more crowded and payers more particular, the effectiveness of a pharmaceutical company's thought leader management system has never been more important.

The clinical and marketplace insights provided by Thought Leaders (TLs) can be the difference between a drug's success or its failure.

To create and maintain lasting and mutually beneficial relationships with thought leaders, organizations use systems, processes, and procedures to manage these important and complex relationships. The repercussions of an ineffective thought leader management system can be millions in wasted marketing or development costs for a life sciences company – not to mention the possibility of creating substantial compliance problems.

To probe current trends and future directions in integrated thought leader management, research and consulting leader Best Practices, LLC conducted a new benchmarking study, "Creating and Maintaining a Strategic KOL Management and Engagement System."

Topics addressed in the study include:

• Reporting structure and oversight
• Thought leader management roles and responsibilities
• Thought leader interactions and management
• Thought leader strategy and engagement

The study will help leaders involved in KOL management understand the current state of KOL management practices in the pharmaceutical industry, determine how TL management practices are evolving and identify innovative practices that are driving TL management success at other organizations. Study participants agreed that clinical research support (trials, IISs) and clinical advisory boards were the most important KOL services.

The report is based on data from 34 thought-leader management leaders from 29 biopharma and device organizations who participated in a field survey. Four high-level participants were interviewed to add qualitative depth to the study.

To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www3.best-in-class.com/rr1397.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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