SOURCE: Cutting Edge Information

Cutting Edge Information

July 28, 2016 08:17 ET

Majority of Pharma Key Account Management Teams Target US Hospital Systems and Private Payers

Geographic Regions Can Shape the Types of Accounts That General KAM Groups Support

RESEARCH TRIANGLE PARK, NC--(Marketwired - July 28, 2016) - The vast majority -- 83% -- of US pharma key account management (KAM) teams label hospital systems and private payers as key accounts, according to a new published by pharmaceutical intelligence provider Cutting Edge Information.

Another 67% of US KAM teams incorporate government payers on a local, regional and national level basis, along with physician networks and large group practices, in their target segments. A smaller percentage (17%) also reach out to other account types, such as pharmacies.

According to the Cutting Edge Information study, Pharmaceutical Key Account Management: Forging a Unified Relationship with External Stakeholders, every European general KAM team includes hospital systems in its key accounts. However, compared to the US teams, these KAM teams' key accounts are more likely to include regional and local-level government payers (80%) than private payers at any level (60%). The surveyed teams that operate in the Middle East or Africa only reach out to regional and local-level government payers.

"General KAM groups in the US favor private payer accounts," said Adam Bianchi, senior director of research at Cutting Edge Information. "On the other hand, ex-US teams favor government payer accounts. The location of these KAM groups also plays a role in these strategic choices."

Pharmaceutical Key Account Management: Forging a Unified Relationship with External Stakeholders, available at http://www.cuttingedgeinfo.com/research/sales/key-account-management/, details how KAM teams combine sales proficiency with managed markets knowledge to create a single point of contact for diverse customers who have different and challenging needs. It also examines life science companies' hiring and training practices for key account managers.

The study includes:

  • Breakdowns of key account targets and their priority among surveyed companies.
  • Resource levels for developing successful KAM teams.
  • Examination of profiles belonging to real-world KAM teams.
  • The format and duration of key account management training for both new hire and veteran KAM staff.
  • Surveyed pharmaceutical companies' average KAM compensation data across all levels of employee experience for both annual salary and potential bonuses.

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