Study Showcases how Medical Affairs Provides Value to Emerging Stakeholders Such as Payers and Specialty Pharmacies

CHAPEL HILL, N.C., Oct. 26, 2018 /PRNewswire/ -- Medical Affairs has long been the function within the pharmaceutical industry that communicated scientific information to physicians and thought leaders.

As emerging groups such as payers, Accountable Care Organizations, specialty pharmacies and others have become more prominent in the healthcare landscape, pharma has expanded the organizations that Medical Affairs interacts with for medical and clinical discussions. But adding these relatively new groups to Medical Affairs' work load has pharma leaders grappling with what roles, tools and activities bring the most value to interactions with government agencies, Integrated Delivery Networks, Group Purchasing Organizations and other critical external stakeholders.

To share current practices regarding Medical Affairs' external interactions, research and consulting leader Best Practices, LLC has published a new study, "How Medical Affairs Creates Value & Relationships through Service to Critical External Groups."

This benchmarking study is designed to provide biopharma companies with current insights into the current practices of Medical Affairs in terms of their interactions with emerging groups and what activities and tools they are using in their information exchanges. The new study also looks at how companies are measuring the performance of Medical Affairs related to interactions with these emerging groups.

The 101-page report will help Medical Affairs leaders:

• Determine which external groups to work with and prioritize the importance and value of their work depending on a product life cycle
• Select tools, activities, services and roles to work with different external groups
• Provide key performance indicators and best practices to demonstrate value

Medical Affairs leaders will be able to use the research results to compare their external engagement strategy and tactics with the practices of their industry peers.

Best Practices, LLC engaged 50 Medical Affairs experts at 33 companies through a benchmarking survey. Data in this research are presented in three segments: Total Benchmark Class, Global Segment and U.S. Only Segment.

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/rr1517.htm.

For related research, visit the 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. 

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SOURCE Best Practices, LLC