SOURCE: Cutting Edge Information

Cutting Edge Information

March 16, 2011 09:17 ET

Key Opinion Leader Compensation Focus of Upcoming Webinar

Discussion Includes How Companies Set Global Strategy for Fair-Market Value Compensation to Medical Experts, From 2011 Research by Cutting Edge Information

RESEARCH TRIANGLE PARK, NC--(Marketwire - March 16, 2011) - An online meeting of medical affairs executives and specialists later this month will showcase how pharmaceutical, biotechnology and medical device companies are managing shifting regulatory environments, new policy guidelines and competitive pressures to disclose key opinion leader (KOL) payments.

"Europe is moving to mirror the regulated environment for KOL management that has spread state-to-state in the United States," said Elio Evangelista, director of research at Cutting Edge Information. "Regulatory controls on the interactions between drug- and device-makers and thought leaders -- especially around compensation -- will continue to grow."

The Cutting Edge Information research team will host "Successful Strategies for Implementing a Global KOL Fair-Market Value Compensation Plan," on Thursday, March 31 at 11:00am EST. Evangelista will lead the team in presenting data and best practices illustrating life science companies' new strategies for setting fair-market value for key opinion leaders. This includes working from a regional or even global guidebook for compensation benchmarks, common definitions for documenting KOL activities, and increasingly spending limits on total KOL compensation, both in the U.S. and in Europe.

The webinar discussion will cover key findings from Cutting Edge Information's newest research project, "Determining European KOL Compensation," including benchmarking data from almost thirty pharmaceutical and biotechnology drug developers, medical device makers, and CROs. The webinar will also include the first look at results from the upcoming study of "U.S. Fair-Market Value Compensation."

Executives interviewed for the webinar's background research highlighted several questions that KOL teams increasingly must manage globally:

* What processes and structures ensure that KOL payments are both compliant and competitive?

* What compensation levels build the maximum Return-on-Investment for the company?

* What compensation benchmarks make the company competitive in the minds of medical and scientific experts?

* How can the payment system be integrated into and help support the larger thought leader relationship management strategy? Can the payment process help identify future global thought leaders?

"Successful Strategies for Implementing a Global KOL Fair-Market Value Compensation Plan" is currently open to new participants. For more information, visit http://bit.ly/key-opinion-leaders

Evangelista launched Cutting Edge Information's Medical Affairs practice in 2002. For more information, contact him at +1 919-403-6583.

Contact Information

  • Elio Evangelista
    +1 919-403-6583