Presentation on theme: "The market leader in virtual work environments for healthcare professionals Scientific Discussion Groups Voluntary Collaboration Programs Association Members."— Presentation transcript:
The market leader in virtual work environments for healthcare professionals Scientific Discussion Groups Voluntary Collaboration Programs Association Members & Committees Hospital Professional Networks Advisory Boards The Case for Virtual Advisory Boards 1
Agenda A Macro View: Industry driving the need for change Quick concepts about virtual advisory board capabilities The Case, Part 1: Top five reasons why pharmaceutical clients are implementing virtual advisory boards The Case, Part 2: Top five reasons why pharmaceutical agencies are implementing Within3’s virtual advisory boards The Case, Part 3: Top five reasons why advisory board participants/ consultants are embracing virtual advisory boards
The Macro View: Industry driving the need for change Quick concepts about virtual advisory board capabilities 3
Macro Industry Drivers 4 Changes in the planning and execution of advisory boards − Focus on venues that make it easier for participants − Allow for quicker, shorter sessions − No longer able to use advisory boards as marketing/relationship vehicles Pharma must do more with less − Reduce cost of HCP engagement − Need to include varying participant types / specialties Opportunities for new and innovative solutions − Looking to build future capabilities − Looking to augment existing programs DriversResult Government regulations Physician Payment Sunshine Act Fair Market Value reporting Pharma P&L challenges resulting in: Layoffs and outsourcing Increased focus on specialty products Participant concerns Busy schedules limit ability to participate in live meetings Employer/peer/patient pressure to avoid pharma payments
Internal Viewpoints and Perspectives Internal Stakeholders Medical Affairs Brand Teams Legal Compliance 5 “I’m facing headcount reductions, but still need to service internal and external clients.” — Medical Affairs “I’m facing headcount reductions, but still need to service internal and external clients.” — Medical Affairs “Due to tightened legal and regulatory approaches, advisory board rules, processes and execution must be more transparent.” — Legal & Compliance Common Themes “It is challenging to our team to grow revenue and become more responsive to customers with budget cuts and tighter regulatory constraints.” — Brand Manager “It is challenging to our team to grow revenue and become more responsive to customers with budget cuts and tighter regulatory constraints.” — Brand Manager
Better Outcomes By Integrating Digital Collaboration Solutions into Advisory Board Programs 6 Digital Advisory Venues Processes and Best Practices Digital Advisory Venues Processes and Best Practices Digital Advisory Venues Compliant, multi-device access Real-time Web Conferencing Online Community Discussion Traditional Live Meetings Traditional Live Meeting Processes and Best Practices
Virtual Advisory Boards Offer Additional Forms of Secure Communication 7 Telephone Face-to-Face Online Discussion Webcast Notifications
Key Business Drivers For Advisory Board Approach 8 Approach Key Business Drivers Live Meeting Only Virtual Advisory Board Only Live Meeting and Virtual Advisory Board Establishing New HCP Relationships Year Round HCP Engagement Comprehensive Insight and Feedback Lowering Costs / Expanding # of Participants Year Round HCP Engagement Comprehensive Insight and Feedback Establishing New HCP Relationships
Virtual Advisory Boards Expand Live Advisory Boards 9 Ability to Support Shorter Engagement Needs: Brand teams often do not have sufficient content / questions to support a full, eight-hour live advisory session. Virtual advisory boards allow brand teams to convene and execute sessions with smaller content amounts, avoiding wasted time and money “filling in” unnecessary hours of content to justify advisor meetings to internal compliance teams. Holding Virtual Advisory Sessions Before a Live Meeting: Frequently, advisors can be helpful in framing the best questions to ask, and knowing the best materials required to make a live advisory board meeting successful. Some Within3 clients use the virtual advisory board platform in the weeks before a full live meeting to make everyone’s time better spent in live sessions. Holding Virtual Advisory Sessions After a Live Meeting: Oftentimes, follow-on data, market changes, or other factors make it useful to convene advisors weeks or months following a live advisory board session. The virtual advisory board platform permits brands to build annual plans/programs allowing for additional communication to improve strategy and ensure proper interaction with thought leaders
Pharmaceutical Agencies Can Profitably and Effectively Integrate Virtual Advisory Boards into Their Offerings 10 Within3 provides a full suite of technology and support services to help ensure agencies are successful in positioning, selling and delivering a best-of-breed customer experience. Within3’s services complement those of an agency – allowing agencies to develop deeper relationships, while continuing to focus on areas of business growth.
The Case, Part 1: Top Five Reasons Why Pharmaceutical Clients are Implementing Virtual Advisory Boards 11
Top Five Reasons Why Clients are Adopting Virtual Advisory Boards Augment live advisory board programs with virtual advisory sessions for better results Increase the number or type of advisory board participants without increasing costs Address global or regional meeting needs where logistics are challenging or expensive To be more responsive to current trends and industry changes Lower costs by replacing live advisory board meetings with virtual advisory board meetings
Reason 1: Augment Live Advisory Board Programs JanDecFebMarchApril… Scheduled Live Advisory Board Meeting Virtual session held before the live meeting to: 1. Orient participants on key topics 2. Gain feedback on meeting agenda and scope 3. Present pre-meeting materials Virtual session held before the live meeting to: 1. Orient participants on key topics 2. Gain feedback on meeting agenda and scope 3. Present pre-meeting materials Virtual session held soon after the live meeting to: 1. Review summary and findings, documents and materials 2. Determine needs for go-forward discussion Virtual session held soon after the live meeting to: 1. Review summary and findings, documents and materials 2. Determine needs for go-forward discussion Virtual Session held 6+ months after live meetings 1. Discuss latest developments and market changes 2. Ensure current perspectives remain valid Virtual Session held 6+ months after live meetings 1. Discuss latest developments and market changes 2. Ensure current perspectives remain valid
Reason 2: Increase the Number or Type of Advisory Board Participants 14 Within3 virtual environments allow for easy segregation of users into different rooms. Especially in complex disease states, clients are expanding “who” they wish to gain advice from to better serve their markets. Examples include: Differing types of specialists Participants from differing localities Physician extenders (nurses, physician assistants, nurse practitioners, etc.) Payors / Practice Management professionals While honoraria costs (and perhaps content costs) may increase, venue costs remain low and scalable, making a deeper pool of participants possible.
Reason 3: Address Global or Regional Meeting Needs 15 Especially in global settings, the cost to bring advisory board participants together can be prohibitive and determining the logistics can be burdensome. A virtual environment provides the following advantages: Language Participants from differing localities Physician Extenders (nurses, physician assistants, nurse practitioners, etc.) Payors / Practice Management professionals
Reason 4: Faster Response Time 16 Participants can engage with a Within3 virtual environment at their convenience 24/7, fostering more collaboration and deeper clinical insights, allowing clients a faster response time Within3 advisory boards ensure deeper dialogue by ALL participants as opposed to a live meeting where a few personalities tend to dominate the conversation
Reason 5: Lower Costs 17 Within3 virtual advisory board meetings displace the costs associated with the following: Travel and airfare Hotel Food and beverages Meeting room Live site materials / signage Honoraria rates are often less considering physicians spend less time than they would going to / from a live advisory board session Travel management / concierge services vs.
The Case, Part 2: Top Five Reasons Why Pharmaceutical Agencies are Implementing Within3 Virtual Advisory Boards 18
Top Five Reasons Why Pharmaceutical Agencies are Implementing Within3 Virtual Advisory Boards To deliver innovative programs to clients for better results To allow for business growth without loss of key revenue sources when transitioning from live-only to digital or digital plus live services To respond to client demand by replacing live advisory board meetings with virtual meetings To deliver high customer satisfaction and value Within3 Results Program assures strong readiness and training for agencies to be successful when offering new services for their clients
Reason 1: Deliver Innovative Programs to Clients At best, agencies who are unable to provide innovative alternatives in response to the pressures facing pharma today open themselves up to potential competition, and at worse face the potential of losing pieces of business from key accounts. Conversely, agencies who can deliver modern, effective alternatives to traditional problems can differentiate themselves from the competition at both existing and new potential accounts.
Reason 2: Allow for Business Growth Without Loss of Key Revenue Sources * 21 * See “Comparison of Within3 vs. Webcast vs. Live Approach” in Product Learning Center for More Detail Within3’s solutions increase “high value” services and revenues for agencies when deployed in conjunction with live meeting programs, while minimizing the “low profit” logistical and pass through services.*
Reason 3: Respond to Client Demand Whether it be via an RFP or through discussions with clients, increasingly more brand teams are demanding the adoption of virtual meetings into their strategic plans. In response to these demands, agencies are often faced with the choice to either (a) dissuade the client from these ideas, (b) attempt to build and deliver solutions on their own, or (c) to search for (and manage) partners who can fit within their overall plans. Within3 is the clear choice for agencies that want to put forth a comprehensive, professional response to these requests.
Reason 4: Within3 Advisory Boards Deliver High Customer Satisfaction and Value “The system was user-friendly and easily accessible.” “I am very happy with the feedback and the participation.” Positive Feedback from AdvisorsPositive Feedback from Clients “Community was easy to navigate.” “I was able to participate on my time.” “The system provided us access to our advisors 24/7 and created a positive environment for capturing insights.”
Reason 4: Within3 Advisory Boards Deliver High Customer Satisfaction and Value 24 Within3’s methodology for enabling successful virtual advisory board sessions ensures the needs of agencies and their clients are met. Organizational Readiness “First Time” Readiness Services“Per Session” Services Content, Topics and Questions Moderator Training and Faculty Orientation Discussion, Analysis and Monitoring Goals Assessment / Fit Determination Medical / Legal / Compliance Planning and Implementation Within3’s services complements — not competes — with those provided by a medical communications agency. In fact, no Within3 project can be delivered without an agency partner to drive the overall solution. This allows agencies to feel secure in maintaining key client relationships, delivering deep, value- added services, and affecting positive results when working with Within3.
Reason 5: The Within3 Results Program Assures Successful Readiness and Training for Agencies 25 Within3 Services Organizational Readiness Services Moderation Coaching User Orientation Venue Design, Setup and Operation Content Adaptation Agency Services Member Recruiting Analysis and Conclusions Honorarium and/or Contract Management Brand Strategy Broader Program Integration Live Event Execution* Discussion Monitoring* Session Moderation* Content Creation* Within3’s services complements – not competes – with those provided by a medical communications agency. In fact, no Within3 project can be delivered without an agency partner to drive the overall solution. This allows agencies to feel secure that they can maintain key client relationships, deliver deep, value-added services, and affect great results when working with Within3. * Within3 can provide assistance as needed for agencies in integrating existing content/processes into an online venue.
Within3’s Results Program Supporting agencies in securing new business Customized demos and sales materials to help realize the sale Proposal language, templates, sales aids and examples Medical/Legal/Compliance review support, materials and consulting Supporting agencies in high-quality delivery Deep experience structuring questions and content with agency clients Environments can be customized to meet any brand or need Free training available for moderation, administration and user orientation
The Case, Part 2: Top 5 Reasons Why Participants/Consultants Embrace Virtual Advisory Boards 27
Top Five Reasons Why Pharmaceutical Agencies are Implementing Within3 Virtual Advisory Boards The Sunshine Act has American physicians reconsidering how much work they do within the industry Convenience to engage whenever it is best for each participant during session windows Ease of use of the Within3 virtual advisory board application Language Barriers/Time to Consider answers before contributing More efficient use of time
Reason 1: The Sunshine Act is Deterring Physician Participation in Industry Programs Expense ItemLive MeetingWithin3 Virtual Meeting Travel (Airline & Taxi)$1000$0 Meals (over 2 days)$200$0 Hotel$300$0 Honoraria*$1,600 Total “Payment” to physician $3,100$1,600 Example: High Level View of Sunshine Act-related exposure to an MD for same work provided: * Assumes 8 hours at $200 per hour In addition to concerns about limited time, American physicians are evaluating their participation in industry activities with an eye towards their overall Sunshine Act exposure. Within3 virtual advisory boards eliminate the non-work aspects of Sunshine- related costs. This is doubly important because these fees are not viewed as “part of my payment” by most physicians.
Reason 2: Convenience in Participating Within3 virtual advisory boards allow physicians to participate via discussion threads during a pre-defined session at their convenience — whether before rounds, after surgery, or late in the evening — avoiding the scheduling hassles associated with live meeting sessions.
Reason 3: The Within3 Advisory Board Is Easy and Convenient Within3’s advisory boards are designed specifically with healthcare professionals in mind – with clear indicators of work to be done, and accessibility via any device.
Reason 4: Language Barriers / Time to Consider Answers Before Contributing Participants respond at their own pace. After reading materials or accessing past posts, participants have the time to craft their thoughts vs. giving “on the fly” answers that sometimes permeate live sessions. This is especially convenient for clinical and/or global advisory boards where careful consideration of answers is desired.
Reason 5: More Efficient Use of Time Adding travel headaches into an already busy schedule can be demanding for advisory board participants. By putting participants in control of when and where they participate, a greater respect for their busy schedules is achieved. Additionally, participants process information at different speeds, and engage at various levels. Helpful moderation tools assist moderators in drawing out needed information from users in an encouraging way.
Industry Wants to be More Effective When Delivering Advisory Board Programs 35 Increase the productivity of thought leader engagements Cover more topic areas Reduce overall resource utilization Decrease internal planning time and expenses Enhance the quality of the Advisory Board Process More meaningful, thoughtful dialogue Increase flexibility to achieve objectives Streamline compliance and audit safeguards
Additional Reasons to Consider Virtual Advisory Board Programs 36 Enables real time scientific information exchange with time sensitive questions for Brand/Medical Affairs Allows peer-to-peer connectivity and collaboration with more thoughtful responses Enables participation regardless of geographic boundaries; extends the conversation outside of a two-day meeting Enables increased connectivity and learning by allowing the possibility of multiple touch points throughout the calendar year
Virtual Advisory Boards Reduce the Effort Needed to Execute a Session 37 Consistent Mechanism will significantly reduce time to implement Much Improved Execution Time Platform compliance vetted and standardized by Legal / Compliance Core components of digital solution and advisor contract template already approved Logistical hurdles virtually eliminated (and flexibility increased) Reduced dependency on resource support Program content becomes focus Months to Implement Face-to-Face Advisory Boards 9+ 1 Enterprise – Virtual Physician Community Months to Implement 2+ 1 Ongoing Engagement
Virtual Advisory Board: 360 Degree Mutual Benefit 38 Life Sciences Company Advisor Ease of participation Interact on their schedule from an internet browser No travel No geographic and time zone hurdle Available 24/7 Content in context Spend time crafting responses and submit when ready Formulate responses based on the input of other colleagues Security Private, invitation only environment Secure, private logon Business Benefits Enhanced knowledge exchange Increased touch points with advisors throughout year Built to support advisory board objective Available 24/7 Reduced expense and human resource burden Terms / advisor contracts set the expectations
Virtual Advisory Boards Reduce the Overall Resource Burden * Large Pharma company cost analysis; includes only hard costs 39 Elimination of travel expenses enables significant savings Hard Costs – Elimination of travel expenses Travel, hotel, meals, etc. Hard Costs – Reduced vendor cost Limited spend on fees due to limited focus on content creation Reduce number of vendors utilized for this function Soft Costs – Reduced burden on internal resources Consistent platform reduces time to implement Ad Board Cost TodayEnterprise Online HCP Ad Board Communities (Up to a 37% reduction compared to day’s avg. cost*)
Key Benefits of Conducting a Virtual Advisory Board 40 Better market understanding via increased interactions Easier preparation of conclusions and recommendations Increased quality engagement, full participation and compliance Reduced out- of-pocket costs Improved planning and reaction to market events Conduct webinars within the Community
Medical / Legal / Regulatory: Common Issues Most Common MLR Concerns 44 Off label / Claim Expansion Discussion Regional Differences Content/Response Approval ProcessPromotional Content Distribution Adverse EventInformation & User Security DiscoverabilitySafe-Harbor Data RetentionFair Market Value Member ContractingSunshine Act Additional MLR Concerns
A Multitude of Compliance Capabilities Lower Risk in Virtual Advisory Boards 45 Key Compliance Need Example Capabilities in Modern Community Platforms Automated Discussion Thread Moderation Off-Label/AE Keyword Matching Preventative Filtering Reactive Queuing Controlled Queuing Video Conference Moderation Attendee Question Queuing Authorized Speaker Controls Break-out Room Support Document Controls Monitoring and Alerts Role Support Moderation Dashboards Automatic Notifications Compliance Exception Handling Thread Administration Private Discussion Capability User Access Control Confidential Content Delivery Secure Document Viewers Role-Secure Content Areas Configurable User Notifications Legal & User Agreements User Terms-of-Use Community Guidelines Expectation Agreements Audit Reporting & Traceability User Conversation Tracking Synchronized Transcripts Key Resource Tracking