Success Factors for Creating & Structuring an Effective Thought Leader Management Function

CHAPEL HILL, N.C., March 14, 2014 /PRNewswire/ -- Despite all of the changes in today's healthcare environment, the importance of Key Opinion Leaders (KOLs) remains steady. Biopharmaceutical companies are now being challenged to establish an effective and efficient approach to coordinating KOL interactions across the organization. Faced with regulatory changes and declining access, organizations have placed an increased emphasis on developing a strategic approach to KOL management.

Organizations can no longer afford to have multiple functions and regions blindly contacting the same KOL. According to recent research by benchmarking firm, Best Practices, LLC, there was a lack of clear consensus on how participants administer their strategic KOL management system. In fact, most companies (28% of respondents) said that their companies have no formal KOL management process in place at all.

The report, "Creating and Maintaining a Strategic KOL Management and Engagement System," provides leaders with an evidence-based understanding of current and evolving approaches to creating and maintaining an integrated, strategically-focused Thought Leader management system. The report also contains benchmarks and insights that will help executives to improve the value and effectiveness of their KOL management system.

Key research objectives examined:

• Organizational structures for strategic Thought Leader management and engagement
• Current state of Thought Leader management practices in the pharmaceutical industry
• How Thought Leader management practices are evolving
• Innovative practices that are driving Thought Leader management success

This benchmarking research drew participation from 34 Thought Leader management executives at 29 biopharma and device organizations. In addition, deep-dive interviews were conducted with four participants to gather additional insights.

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/rr1275.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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