Patient Engagement Open Forum 2022: Demystifying the Methodology to Determine FMV
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February 23, 2022 – 16:00 to 17:30 Central European Time (CET)
Demystifying the methodology to determine Market Value when remunerating the patient community for interactions with the pharmaceutical industry.
In recent years the healthcare system has experienced many benefits from the substantial collaborative work that enables ethical and compliant interactions between the patient community and the pharmaceutical industry. Key initiatives and deliverables have laid a strong foundation, such as the Reasonable Agreements between Patient Advocates and Pharmaceutical Companies project (RAPP), the National Health Council (NHC) Compensation Toolbox, Working together guidelines from European and International Trade Associations (EFPIA, IFPMA), and definitive work from public private partnerships such as IMI-PARADIGM and EUPATI.
In 2021, we discussed the tensions that exist on the subject of remuneration and fair market value for work delivered by the patient community and the PFMD project for global harmonization to drive consistency and transparency in policies, processes, and methodologies. In this session, we want to demystify the methodologies and processes currently in use to determine the hourly rates applied to patient engagement activities. This rate is commonly referred to as the Fair Market Value (FMV). Learn why this work is important, what we will deliver and how you, your organization and your network can contribute to and benefit from the deliverables.