Solution Providers For Your Life Science Business Challenges
Do you need help with the criteria you use to evaluate Thought Leaders?
BioPharma Advisors has found that many companies have not put as much effort in reviewing and updating speaker and advisor criteria for each payment tier.
Take this quick true-false test. If you respond "false" to any of the following statements, please consider letting us help you.You may use the information below to contact us.
We have a policy or specific procedure for adding new speakers and advisors.
All our speakers and advisors have a CV/resume on file.
The CV/resume is reviewed and used in determining payment for services.
We have payment tiers with criterion under each tier.
There is a formal deviation process for compensation exceptions.
These compensation exceptions are reviewed annually.
We perform a criteria-based review of our speakers and advisors at least every two years to ensure they are in the appropriate tier.
We have a centralized database managed by our company or a third-party vendor that houses all CV and profile information.
This information and centralized database can be accessed by select company employees.
We have performed an internal audit to test the accuracy of our data.
If you need help, please contact us!
Robert Nauman Principal BioPharma Advisors LLC 2500 Regency Parkway Cary, North Carolina 27518 USA (919) 654-6733 rnauman@mybpa.net
Tier Criteria Update Service BioPharma Advisors, LLC
BioPharma Advisors has found that the biotech and pharmaceutical industries have made significant progress in setting clear payment schedules for healthcare professionals who perform services.Many companies have a tiered payment system for speakers and advisors.Ideally, the criteria in each tier are objective and differential.For example, a speaker or an advisor might be paid one amount if she meets certain criteria, or higher amounts if she meets more exclusive criteria.This system can work well if the criteria are mostly objective and the right physicians are in the right payment tier. However, BioPharma Advisors has discovered that many companies have not put as much effort in reviewing and updating the criteria within their different payment structures.In many cases, the criteria are more subjective, based on the opinion of a sales representative, sales manager, or marketer.In other situations, the tier criteria might be satisfactory, but the time hasn’t been taken to compare the physicians's CV/qualifications to her tier.The result: the physician is not being paid fair market value for her services. According to the new 2008 PhRMA Code Guidelines, consultant (speaker and advisor) selection and payment should be based on defined criteria and established in advance of requesting services.There are many steps in this detailed process and BioPharma Advisors has experience to lead your company through this, maximizing company time and resources.Please select one of the following service options. LEVEL I BioPharma Advisors will analyze current speaker and advisor tier criteria and provide recommendations on updated, objective, and differential tier criteria.BioPharma Advisors will perform an audit with 30 current healthcare professional profiles and payments to give the client an evaluation of the reliability and validity of its current tiering system. LEVEL II Level I services, plusBioPharma Advisors will collect and analyze up to 200 selected healthcare professional CVs to ensure that they are tiered correctly and receiving the right payment for services. We will provide lists of healthcare professionals who were not tiered correctly and provide a recommendation on how to approach this situation. We will also give the client a detailed strategy for annual review of tier criteria and a plan for mid-year tier upgrades and deviation approvals. LEVEL III Level II services, plusBioPharma Advisors will work with the company to electronically integrate information into the company's managed sales/marketing centralized secured database.If the database is managed by a third-party vendor, BioPharma Advisors will develop the business requirements and scope for the client to take to the supplier.BioPharma Advisors will also provide the client with an internal training plan.