Best Practices, LLC Report Examines How the Pharmaceutical Industry is Utilizing the Role of Medical Affairs to Enhance Payer Interactions

CHAPEL HILL, N.C., March 2, 2018 /PRNewswire/ -- For pharmaceutical companies, the road to success goes through payers.

Both public and private payers are placing greater emphasis on real world evidence and economic value when considering therapies for their formularies. In response, many pharma organizations are using their medical affairs group to deliver this type of medical information to payers. Yet this is a relatively new role for the medical affairs function and therefore some companies are struggling to identify the critical requirements needed for medical affairs to be successful in their payer activities.

To inform these efforts and to probe current trends and best practices in the role of medical affairs in payer interactions, research and consulting leader Best Practices, LLC conducted a primary research project to examine the role of medical affairs in critical payer interactions and to highlight strategies for building and maintaining effective payer relationships. This research project produced a benchmarking report, "Medical Affairs' Critical Role in Payer Interactions."

The study results show that this issue is clearly pushing medical affairs' leaders to adjust their staffing: 75% of the participants said they expect growth in staffing for their market access and payer activities within the next 24 months. In addition, almost a quarter of the participants expect more than 30% growth in payer and market access activity staffing.

Aside from gathering current medical affairs trends around resourcing, this new study examined issues regarding structure, strategies, and training for medical affairs to effectively interact with the payer community.

This study will:

• Illustrate how leading Pharma and Biotech companies structure and organize their payer groups and Medical Affairs' involvement
• Highlight strategies for building and maintaining effective relationships with payers
• Understand resource levels for Medical Affairs to create effective payer relationships
• Guide Medical Affairs for talent acquisition and training for their payer groups
• Explore strategies for identifying, segmenting and prioritizing payers

Twenty-nine medical affairs leaders at 27 biopharmaceutical companies participated in this research. Responses in this study are presented in two segments: regional (US only and global companies) and company size (large, medium-sized and small companies).

To learn more about this report, download a complimentary report excerpt at http://www.best-in-class.com/rr1487.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