SOURCE: Cutting Edge Information

Cutting Edge Information

January 17, 2017 08:17 ET

Pharmaceutical Key Account Managers Favor Hospital System Accounts

RESEARCH TRIANGLE PARK, NC--(Marketwired - January 17, 2017) - The majority of surveyed pharmaceutical key account manager (KAM) groups are most likely to support hospital system accounts (88%) and regional/local-level government payers (76%), according to recent data published by competitive intelligence provider Cutting Edge Information.

Additionally, 71% of surveyed pharmaceutical teams include national-level private payers in their key accounts. However, only 6% of general KAM teams across all regions are least likely to support nursing home networks.

Cutting Edge Information published the data in the study, Pharmaceutical Key Account Management: Forging a Unified Relationship with External Stakeholders, which illustrates how geographic region can shape the types of accounts that general KAM groups support. For example, 83% of general KAM teams in the US include hospital systems and private payers in their key accounts. However, every surveyed group in Europe includes hospital systems in its key accounts.

"Surveyed general and targeted key account management groups weight their portfolios differently, depending on their individual companies' needs," said Adam Bianchi, senior director of research at Cutting Edge Information. "When building their key account portfolios, general KAM groups consider both commercial and market access audiences."

While focused on commercial or market access groups, targeted KAM teams may prioritize specific types of key account subgroupings above others. Although targeted KAM groups focus exclusively on either commercial or market access groups, the subgroups they reach out to may diverge. Surveyed KAM teams include private and government payers at all levels including local, regional and national in their key accounts. The study shows, however, that not all commercially focused KAM teams reach out to ACOs or integrated health delivery networks, despite potential opportunities in these areas.

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 examines life science companies' hiring and training practices for key account managers. The study includes:

  • Surveyed firms' preferred professional background for new KAM managers.
  • Examination of profiles belonging to real-world KAM teams to benchmark your internal operations.
  • The prevalence of specific previous positions among key account management staff.
  • The format and duration of key account management training for both new hire and veteran KAM staff.
  • Surveyed pharmaceutical companies' average KAM compensation - both annual salary and potential bonuses - across all levels of employee experience.

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