Study Explores How Pharmaceutical Companies Can Create Effective Thought Leader Management Capabilities

CHAPEL HILL, N.C., May 4, 2018 /PRNewswire/ -- In the pharmaceutical industry, thought leaders play an integral role in every stage of a product's lifecycle. This relationship makes it critical for the Medical Affairs function within pharma to develop robust internal thought leader management capabilities.

Research and consulting leader Best Practices, LLC undertook a benchmarking study to explore how leading biopharmaceutical companies structure and organize their Medical Affairs function and develop effective relationships with thought leaders. The study also benchmarks the resource levels, internal communication tactics and use of social media for effective thought leader management.

More than 65 percent of participants think two Medical Affairs functions have become much more important recently: field-based medical teams and outcomes research/managing real world data. These two functions are among the least outsourced by companies; and while field medical teams get the largest piece of Medical Affairs' budget, outcomes research/managing real world data receives among the smallest allocations, according to the study.

"Developing Strong Internal Thought Leader Management Capabilities Inside Medical Affairs" probes current trends and best practices in thought leader management.

The insights in this report touch on the critical components of creating and maintaining an effective internal approach to thought leader management. This study will:

• Illustrate how leading Pharma and Biotech companies structure and organize their Medical Affairs capabilities
• Highlight strategies for building and maintaining effective relationships with Thought Leaders
• Present resource levels for effective Thought Leader and Medical Affairs organizations
• Identify opportunities with social media use in Thought Leader Management
• Explore strategies to improve internal communication and coordination of Thought Leader information exchange

Thirty-one Medical Affairs leaders at 27 biopharmaceutical companies participated in this research. Responses in this study have been presented in two segments: regional (US only and global companies) and company size (large, medium-sized and small 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/re3349.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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