Cutting Edge Information Blog2020-04-10T15:00:01-04:00

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December 5, 2019 - Industry group AdvaMed counts a wide range of medical device companies in its membership, and as such, its revised and restated code of ethics for interacting with US-based HCPs carries a fair amount of influence. Taking effect on January 1, 2020, the updated guidelines lay out the importance of, and benefits provided by, interactions between HCPs and medical device companies.  The document is divided into 13 sections that codify and provide guidance on most facets associated with engaging HCPs.  [...]

November 14, 2019 - Life science organizations account for a number of variables when deciding on an accurate FMV payment for contracted HCPs.  It’s a process that — at some point — involves confirming the title of an HCP in the context of a company’s engagement. A key factor in verifying a doctor’s title for FMV purposes stems from their personal career development.  Accomplished HCPs often hold multiple titles at the same time or move from one position to another in a short [...]

November 7, 2019 - Facilitating international thought leader (TL) events and engagements poses unique challenges for pharma companies. More specifically, having a high-level TL cross an international border for a compensated engagement is becoming more complex as a greater number of transfer-of-value regulations are being imposed on doctors and pharma companies.  A primary challenge associated with cross-border engagements is a TL’s country of origin. Most of the regulations mentioned above originate from single countries or, in some cases, federal states within countries. Unsurprisingly, [...]

October 17, 2019 - Thought leader (TL) compensation can include additional costs not immediately considered when coordinating a speaker engagement, consulting service or other activity. One of these additional costs involves transporting a contracted HCP from their home to the event location. To account for the variables that come with planning business travel, many pharma companies have developed TL travel policies. Company-wide TL travel policies help to ensure a consistent approach when handling events or other services. They typically outline the primary decision-maker [...]

October 10, 2019 - Since the inception of the Sunshine Act in 2010, life science companies operating in the US have had to disclose payments made to relevant health care providers (HCPs) and teaching hospitals in an online database. This legislation was largely focused on addressing the influence that pharma companies potentially had over HCPs’ and teaching hospitals’ prescribing habits. More recently, the Sunshine Act and physician payments database has expanded to include different types of nurses. This expansion stems directly from the [...]

October 3, 2019 - Largely due to regulatory pressure, there has been a shift to greater transparency in the relationships between health care practitioners (HCPs) and life science companies.  Many markets already require that pharma companies report all transfers of value made to physicians for activities such as speaker events or advisory boards, but in Canada this has not been the case until recently. At the end of 2017, the province of Ontario took Canada’s first step toward publicly disclosing physician payments by [...]

September 26, 2019 - One of the most important components of an HCP engagement system is the ability to organize data in a way that facilitates a team’s activities both pre- and post-contract. Pre-contract capabilities may include some or all of the following: Integration of FMV rates to ensure that compensation guidelines are consistently applied Contract design and status tracking Implementation of local restrictions on payment and/or accommodations Additionally, once a contract has been executed and the activity is over, companies must meet [...]

September 19, 2019 - Life science companies use rate cards to internally distribute approved payments for thought leader (TL) engagements such as advisory boards or speaking events. Factors associated with these engagements can vary, so most rate cards are designed to handle different scenarios. A wide range of rates to choose from can help in many cases but other features also contribute to an effective card. Cutting Edge Information analyzed rate cards from a selection of large and small pharma companies and found [...]

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