SOURCE: Cutting Edge Information

Cutting Edge Information

March 15, 2016 09:12 ET

Annual Medical Publications Budget Increase Up to 50 Percent in High-Output Teams

RESEARCH TRIANGLE PARK, NC--(Marketwired - March 15, 2016) - Although many factors, including company size and team focus, determine medical publications budgets, team output levels have the greatest impact, according to primary intelligence provider Cutting Edge Information. Because high-output publications teams require larger staffing numbers and more expertise to produce effective manuscripts, these teams need larger budgets to operate.

Surveyed high-output companywide publications teams reported 2012 budgets ranging from $200,000 to $12 million. That range increased from $700,000 to $18 million for 2014. Surveyed low-output teams reported smaller 2012 budgets that ranged $5,000 to $600,000. These budgets also increased -- but remained smaller than high-output team budgets -- in 2014, with a range from $6,000 to $1.2 million.

"Surveyed high-output companywide publications teams report significantly higher budgets than low-output teams," explains Sarah Ray, senior research analyst at Cutting Edge Information. "Regardless of publications output, both low- and high-output teams' budgets are increasing because of the value found in transparent publications. Transparency is necessary for success as a life science company."

Surveyed publications teams have experienced increasing financial resources over the past three years, with some high-output teams increasing as high as 50 percent. Medical Publications Planning: Uniting and Emerging Channels to Foster Transparency reports that no surveyed publications team, whether high- or low-output, has seen decreasing budgets between 2012 and 2014.

Medical Publications Planning: Uniting Traditional and Emerging Channels to Foster Transparency, found at http://cuttingedgeinfo.com/research/medical-affairs/medical-publications-planning/, highlights structure, staffing and spending at high and low-output publications groups throughout the life sciences. This research encourages medical communications teams to understand the risk and benefits of increased openness within the scientific and medical community. This benchmarking study has helped medical publications executives to:

  • Employ proactive transparency practices to benefit both the company the public.
  • Mitigate the effects of the Sunshine Act as it pertains to publications authors and investigators.
  • Demonstrate value within the organization and obtain sufficient resources to enable strategic planning.
  • Benchmark publication strategies and resources of similar size, responsibility and output.

For more information on this report, please download the report summary at http://www.cuttingedgeinfo.com/download/?ref=25919.

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