Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Science

Ensure Sunshine Act Compliance by Securing Spending Caps for Key Opinion Leaders


Print article Print article

Cutting Edge Information - We answer questions that no one else can.
Cutting Edge Information - We answer questions that no one else can.
2014-08-01 16:31:39 - RESEARCH TRIANGLE PARK, NC – April 1, 2014 – Drug companies of all sizes have implemented compensation limits — or spending caps — to ensure they remain compliant with new Sunshine Act guidelines regulating payments to physicians. The average annual spending limit, according to Cutting Edge Information, is $58,000.



During an interview for the study, “Pharmaceutical Key Opinion Leader Management: Effective Strategies for Segmenting Thought Leaders,” one pharmaceutical marketing director said, “I hate the term ‘managing KOLs,’ and I assure you that if you say that to a thought leader, you will damage the relationship.” A strong KOL relationship involves give-and-take. It is driven by not only leveraging his or her expertise and prominence for promotional speeches, but also by including them in clinical trial development and allowing them to conduct their own trials.

Cutting Edge Information’s research found that most companies are prepared for the Sunshine Act’s disclosure requirements and have systems in place for gathering and submitting that information. However, much uncertainty over how this disclosure will affect

KOL relationships still exists. The line being drawn between a physician and a pharmaceutical company will alter how these two groups interact in the future. Accredited CME programs are currently exempted from the disclosure requirements, but all other payments from the industry to physicians must be reported.

With this regulation in mind, many companies already have annual compensation limits in place to maintain the integrity of both the individual and the company. The data show the physician payment caps among surveyed companies range from $10,000 to $150,000. A centralized group is vital to prevent the company from exceeding its annual cap. It also helps ensure that caps for individual KOLs are kept in place.

“Pharmaceutical Key Opinion Leader Management: Effective Strategies for Segmenting Thought Leaders” ( www.cuttingedgeinfo.com/research/medical-affairs/key-opinion-lea ..) examines team structures and staffing, as well as thought leader management database usage and expenses. It also compares typical Tier 1, 2 and 3 thought leader profiles across a range of therapeutic areas. Use this report to:
• Benchmark extensive pharmaceutical thought leader segmentation data
• Establish criteria to identify and recruit global, national, regional and local thought leaders
• Create centralized KOL development teams and benchmark resource allocation

For more information about KOL strategy, contact Chris Inks at 919-403-6583.


Contact Information:
Cutting Edge Information

POBox 13628
68 TW Alexander Drive
Research Triangle Park, NC 27709

Contact Person:
Chris Inks
Head of Operations
Phone: 919-403-6583
email: email

Web: www.cuttingedgeinfo.com



Author:
Chris Inks
e-mail
Web: www.cuttingedgeinfo.com
Phone: 9194036583

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com