SOURCE: Cutting Edge Information

Cutting Edge Information

April 13, 2016 09:30 ET

Oncology and Cardiology Fair Market Value Compensation Rates Increase up to 36 Percent in 2016

RESEARCH TRIANGLE PARK, NC--(Marketwired - April 13, 2016) - Trends in fair market value (FMV) compensation rates among surveyed Tier 3 oncology and cardiology specialists have shown an overall increase since 2015. These rates depend heavily on regions, according to primary intelligence provider Cutting Edge Information (CEI).

Global Key Opinion Leader Compensation 2016: CEI's Annual Review of Fair Market Value reported that Japan and the Middle East showed 34 and 23 percent year-over-year increases for oncology specialists, but the United States and Western Europe had declines of 3.9 and 13 percent for the same time period. For cardiology specialists, year-over-year differences were: Japan and the Middle East/Africa, 15.4 and 36 percent increases; United States and Western Europe, .6 and 6.9 percent declines.

"These specific regional differences emphasize the need for localized country-level understanding of FMV rates," said Jacob Presson, senior analyst at Cutting Edge Information. "Our methodology provides specific enough information to account for individual economic differences."

Global Key Opinion Leader Compensation 2016- CEI's Annual Review of Fair Market Value, found at http://www.cuttingedgeinfo.com/research/medical-affairs/key-opinion-leader-compensation/, provides:

  • Access to a more accurate and complete FMV data so thought leaders will not be over or underpaid.
  • A clear overview of FMV compensation trends in key markets across the industry. 
  • An understanding of how to tier thought leaders or improve the tiers already established at your company.

In addition, the report answers the following questions:

  • What are the most relevant factors to consider when determining FMV compensation?
  • Are my company's FMV payments for specialists and non-MDs defensible and clear? 
  • How do our rates compare to other companies' compensation?
  • What criteria should companies weigh when segmenting/tiering KOLs?
  • How are physician compensation rates changing in major therapeutic areas year to year in specific markets?
  • How has implementation of the US Physician Payment Sunshine Act influenced transparency regulations and requirements in other countries worldwide?

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