CEI produces reports that supplement our FMV data to better equip clients with the knowledge necessary to manage HCP compensation on a global scale.
Recent examples include:
FMV Rate Alert
This annual review identifies significant regional shifts in FMV rates. For example, in 2021, the Rate Alert identified major increases in OUS rates as well as increased compensation for surgical specialties. In general, the report alerts companies to areas where an FMV review might be in order, prior to a formal “refresh” of their entire FMV rate structure.
Post COVID-19 HCP Engagements
CEI also issues special reports on events impacting HCP compensation and engagement practices. A recent 2021 report was “Post COVID-19 HCP Engagements: Understanding the Impact of Virtual Events.” Key conclusions included: (1) hourly rates paid HCPs were not impacted by the Virtual presentation format, (2) virtual presentations suffered from engagement issues, making them less effective in delivering marketing messages, and (3) a strong tendency to return to in-person presentations once post-Pandemic business travel is viable again.
Travel Policy Guidance
This analysis provides an overview of travel management for engaged HCPs. The research provides current trends around compensating HCPs for travel time and acclimation after long journeys. It also details industry practices concerning airfare class and lodging.
Rate Card Templates
Our growing collection of rate cards, augmented annually, allows for analysis of common elements, structures and trends. With this knowledge, we plan to create several example rate cards and will offer them to our License holders at no additional cost. These samples could be used as templates to guide the decision-making process leading to a formal, published rate card.
For more information on the Compliance Companion, click here to contact Cutting Edge Information.