FMV Survey 2024 to kick off in April
Spring is an exciting time of year. This year, we are launching our annual fair market value (FMV) survey in April. Cutting Edge Information’s (CEI) FMV Survey of Payments to Healthcare Professionals (HCPs) aims to capture the latest changes to HCP compensation by industry stakeholders. And these changes are happening rapidly, especially as the life sciences industry navigates the lingering impacts of COVID-19, along with the war in Ukraine and other global events. An accurate and up-to-date view of HCP compensation is crucial and relies on a robust response to our survey — this is where you can help.
Why providing your HCP compensation rates is vital
The addition of your company’s current HCP compensation policies to our analysis will ensure that our FMV database continues to:
- provide an objective third-party baseline for contract negotiations with key opinion leader (KOL) physicians, medical specialists, and other healthcare stakeholders.
- reflect the complete range of rates for therapeutic specialties, geography, tiered levels of KOL experience, and different KOL activities.
- help the entire life science industry prove its commitment to transparency and compliance with regulatory demands.
How to participate – it’s easy
Our survey is open to qualified individuals from pharmaceutical and medical device companies of all sizes. It is designed:
- to take less than 10 minutes to complete.
- to be completed on a computer or on a mobile phone.
If you have not yet received an invitation to participate, please click here to determine if you are eligible.
Cutting Edge Information adheres to rigorous confidentiality standards. All information shared in our FMV survey is strictly confidential. No information will ever be divulged to another party. No individuals nor individual responses will ever be identified, nor will any company names. Any quantitative or qualitative data provided — including rates from the survey and rate cards, or insights on company policies — will be used solely for the purposes of Cutting Edge Information’s FMV database. It is important to note that the FMV database contains the summary results of the Cutting Edge Information team’s analysis, not individual rates.
The FMV rates provided in our surveys serve as the foundation for FMVConnect: the most expansive and defensible market-based rate data in the world. From a compliance perspective, we believe our rates are more defensible than salary-based rates because they are built directly from industry rates paid to HCPs instead of proxy metrics. CEI’s fair market value rates are established using globally consistent methodology that relies on the data collected annually from life sciences companies around the world.