pharmaceutical market research best practices


During a speech last week at the 2016 ASCO (American Society of Clinical Oncology) Conference Vice President Joe Biden, in his new directive from President Obama to “get us to the moon” in curing cancer, encouraged collaboration and team science within the field of oncology. “The whole world is looking to you. Your success can literally change the world.”

The Vice President emphasized breaking down barriers to the progress of cancer research by promoting data sharing and facilitating collaborations. Significant changes in the world of science that are shared by the changes going on in the careers of pharma sales reps.

No longer can a rep be successful by calling on individual physicians. Integrated delivery networks (IDNs) own more than 60 percent of physician group practices. These IDNs define treatment protocols, not doctors. Collaborations with these groups are like the ones VP Biden is recommending. Data sharing through healthcare reform is impacting the reimbursement models for how doctors are paid. Accenture reports that 85% of payments are predicted to be tied to patient outcomes by 2016. This digitizing extends to the information on drugs that pharma sales reps used to control.

How do sales reps adapt to these changes?

  1. Work within their sales organizations to develop tools, services and programs that stakeholders beyond the individual physician will value.
  2. Practice agile selling which involves working with ALL decision makers involved in the prescribing and purchasing of the drug.
  3. Utilize digital technology every day in every way. 67% of physicians rely on digital media to obtain information versus 20% that rely on traditional pharma sales reps. Utilization of Skype and webinars is increasing.

Concerned about your career?

Interested in knowing what opportunities and options exist for you in the marketplace? Contact Nancy Ragonese, Smith Hanley Associates Executive Recruiter Pharmaceutical Sales, at 203-319-4315 or Listen to Vice President Biden and change the world with your success!

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