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Effectively Influencing the Hospital Marketplace to Win a Place on Formularies
Date:4/1/2008

CHAPEL HILL, N.C., April 1, 2008 /PRNewswire/ -- Faced with shrinking staffs and less physician availability, pharmaceutical sales forces are having a challenging time serving the hospital marketplace. As their time to communicate with physicians continues to shrink, sales reps for the pharma industry are turning to other decision-makers in the hospital market to win a place on formularies, according to research from benchmarking leader Best Practices, LLC.

The study provides strategic insight into the optimal sales strategy, structure and resources for influencing the hospital market. Review a complimentary excerpt of the study at http://www3.best-in-class.com/rr922.htm.

Among hospital administrative personnel, pharmacy and therapeutic committee members are the key formulary decision-makers for both hospital networks and local hospitals, according to the study. Likewise, best-in-class companies don't view it as effective to target senior administrative decision- makers such as CEOs and COOs at hospital networks, the research found.

Additionally, the 66-page report, Sales Force Effectiveness: Benchmarking the Resources and Structure Required to Service the U.S. Hospital Marketplace, found that 80 percent of companies focus additional sales force training on hospital system networks to help their sales forces navigate the decision- making structure of hospital networks.

The research encompasses all the key hospital market segments, from community hospitals to Academic Medical Centers. Companies that participated in the study and shared their hospital sales force strategies include: Bayer, Eli Lilly, AstraZeneca, Novartis, GlaxoSmithKline, Johnson & Johnson and Pfizer.
The study's key focus areas include:

-- Targeting Key Decision Makers/Influencers in Making Formulary

Decisions

-- Hospital Sales Force Alignment, Structure and Support

-- Hospital Sales Force Staffing and Training

-- Group Purchasing Organization Targeting and Sales Force Size

To learn more about this report, including information about the research participants, key findings and sample best practices, please download a complimentary excerpt and study overview at http://www3.best-in-class.com/rr922.htm .

For questions or additional information on Best Practices, LLC's other products and services, please call Cameron Tew at 919-767-9246 or email ctew@best-in-class.com. Also, visit our Web site at http://www.best-in-class.com/ .

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. For more information, call 919-403-0251 or visit http://www3.best-in-class.com/.


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SOURCE Best Practices, LLC
Copyright©2008 PR Newswire.
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