Documentation Databases a Must for Thought Leader Management

RESEARCH TRIANGLE PARK, NC--(Marketwire - December 13, 2007) - According to a new study by Cutting Edge Information (http://www.PharmaOpinionLeaders.com), implementing a documentation database will positively impact thought leader management. Documentation databases solve a number of seeming conundrums that regulations require, such as a need for firewalls and more communication about staying compliant.

Documenting thought leader activities disallows companies from having communication breakdowns between fire-walled groups both responsible for interactions with thought leaders. According to the study, it is crucial for MSLs and sales reps to know the frequency, time and subject of their counterpart's thought leader interactions. Because the two sides most often cannot directly communicate, documenting contact activity provides a compliant and efficient way to ensure coordination between groups.

According to this study, documenting thought leader activities not only helps companies stay compliant internally when dealing with thought leaders, but also facilitates compliance in the actual relationship with the thought leader. For instance, documenting thought leader activities and payments ensures that thought leaders are paid for only those functions which they have performed.

Elio Evangelista, a project leader at Cutting Edge Information, said, "For companies, implementing and utilizing a database to deal with all facets of thought leader activities is a win-win. In our research, we found that surprisingly few companies had integrated all the thought leader management processes into one system. Documenting thought leaders, their activities and their compensation in a database allow companies to perform segmentation, facilitate internal communication and remain compliant."

"Pharmaceutical Opinion Leader Management," available at http://www.PharmaOpinionLeaders.com, examines the structures, strategies and resource allocations for the departments responsible for handling thought leader relationships. The report also includes detailed data for opinion leader recruitment and segmentation, as well as approaching new trends and issues concerning compliance to government regulation.

"Thought Leader Compensation: Establishing Fair-Market Value Procedures" is a study of 46 pharmaceutical, biotechnology and medical device companies' thought leader management structures, resources, processes and activities. The report includes detailed segmentation and funding data collected from top companies, such as Pfizer, Bristol-Myers Squibb, Schering-Plough and Novartis.

Download a free summary of "Pharmaceutical Opinion Leader Management: Cultivating Today's Influential Physicians for Tomorrow" or purchase the report at: http://www.cuttingedgeinfo.com/pharmaopinionleaders/index.htm#body

Contact Information: CONTACT: Elio Evangelista (919) 433-0214