Contact Information: CONTACT: Elio Evangelista (919) 433-0214
50% of Medical Publications Budgets Spent on Outsourced Work
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - April 16, 2008) - A new study released by Cutting
Edge Information, available at http://www.PharmaPublicationStrategy.com,
examines medical publication practices among major therapeutic areas.
According to the study, medical publications teams are greatly aided by
utilizing outsourced vendors. Outsourced work expenses make up 50% of the
average medical publications budget.
Outsourcing is not new to pharmaceutical companies, who appreciate the
inherent flexibility that vendors provide. However, many companies still
neglect to use vendors in their medical publications efforts. Outsourcing
enables pharmaceutical companies to take advantage of specific vendors'
more targeted experience and expertise in the field.
Despite the large share of budgets that tend to go toward outsourcing,
companies should assess the practicality of outsourcing to their medical
affairs departments before taking outsourcing initiatives. Some larger
companies, for example, already have financial and staffing resources
in-house for all medical publications activities, so there is little, if
any, reason to use outside vendors. On the other hand, many newer
companies do not already have a medical publications department set up and
therefore should use vendors to help them establish a medical publications
strategy.
According to Elio Evangelista, research team leader at Cutting Edge
Information, "Outsourcing is not ideal for every medical publications
department; in some instances, the use of vendors could actually hinder a
company's medical publications activities."
Successful outsourcing strategies do not end after projects have been
completed, however. Medical publications executives agree: vendor
relationships must be maintained even after a specific project is over.
Continual development of vendor relationships helps to provide leverage in
future contracts.
"Pharmaceutical Medical Publications: Market Preparation & Strategic
Support" (http://www.PharmaPublicationStrategy.com), was designed to
explore pharmaceutical companies' medical publications structures,
strategies and processes. The study delves into the resource support and
funding that various medical publication departments and teams benefit from
in the report's 14 company profiles. In addition, through this report,
readers will be exposed to some of the industry's best medical publication
practices and will be better positioned to streamline their own strategies
and processes by benchmarking their efforts against those of top-leading
companies.
Download a free summary of "Pharmaceutical Medical Publications: Market
Preparation & Strategic Support" at
http://www.cuttingedgeinfo.com/pharmapublicationstrategy/PH104_Download.asp#body.