Navigation Links
Study Showcases Effective Approaches for Evaluating the Performance of Executives who Handle Managed Markets Accounts
Date:3/22/2013

CHAPEL HILL, N.C., March 22, 2013 /PRNewswire/ -- Organizations across the pharmaceutical sector are adjusting their operations to reflect the importance and influence of managed care. Consequently, today's market-driven environment has made it essential to assess the performance of executives overseeing managed markets accounts.

Research and consulting leader Best Practices, LLC has conducted an in-depth benchmarking research project to identify common performance measurement practices of managed markets account executives. "Managed Markets Account Management: Assessing the Performance of Account Executives" provides executives with insights into the evaluation of the account executive function as well as benchmarks around measures that drive successful activity in managed markets account management.

The report examines both activity- and results-oriented performance metrics for evaluating account executives. The data are segmented into two parts: Large Pharma and Total Benchmark Class.

On the results side, the most utilized performance metrics for Large Pharma were "Formulary Placement" and "Performance against Stated Objectives." Interestingly, the study found while the Large Pharma segment rated "Number of drugs on formulary" among the most effective performance measurements, only 40 percent said they use that metric.

In addition, the study provides metrics on:

  • Structure
  • Geographical alignment
  • Staffing
  • Accounts handled
  • Time allotment
  • Activities

Meanwhile, both the Total Benchmark Class and Large Pharma Segment said they used activity metrics less often than results metrics to measure account management performance. "Days in the field with customers" was among the most used and highly rated activity metric for both segments.

Among the 200-plus metrics this research uncovered were:

  • The Large Pharma Segment reported an average of 15 FTEs in their managed markets strategy group.
  • The average expected number of account contacts per account manager was 28 for the Total Benchmark Class and 33 for the Large Pharma Segment.

The 51-page report will help executives gain insights on field-proven tactics from survey and interviews of 32 participants.

To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1208.htm. For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound 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.


'/>"/>
SOURCE Best Practices, LLC
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Anthera Announces Data from the Phase 2b PEARL-SC Study Will Be Presented at the 10th International Congress on Systemic Lupus Erythematosus
2. Apnix Sleep Diagnostics Opens More Houston Sleep Study Facilities
3. SCU Offers Students An Exciting New Way To Study The Human Body With Virtual Dissection Table From Anatomage
4. First Patients Dosed in Proof-of-Concept Clinical Study of Alder Biopharmaceuticals Lead Therapeutic Candidate for Treatment of Migraine, ALD403
5. OphthaliX Inc. Announces the Completion of Patient Enrollment for the Phase 3 Dry Eye Syndrome Study
6. Study Uncovers Key Activities and Resource Levels to Drive Success for Corporate Library Groups
7. GeneTex to Release New Antibodies for the Study of DNA Repair in Zebrafish
8. Ceregene And Alzheimers Disease Cooperative Study Group Complete Enrollment Of CERE-110 Phase 2 Trial
9. Lifelong Antiretroviral Treatment for HIV-Infected Pregnant Women Prevents Infection in Children, Saves Mothers Lives, Study Finds
10. Sosei Announces Initiation of Phase III Study for SO-1105 for the Treatment of Oropharyngeal Candidiasis
11. CHPA Statement on PSE Economic Study By AEI Fellow Alex Brill
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/27/2017)... , Sept. 27, 2017  DarioHealth Corp. (NASDAQ: DRIO), a leading ... announced that its MyDario product is expected to appear on The Dr. ... The Dr. Oz Show airs in your area: http://www.doctoroz.com/page/where-watch-dr-oz-show ... The nine-time Emmy award-winning, The Dr. Oz Show ... The segment ...
(Date:9/22/2017)... 22, 2017  As the latest Obamacare repeal effort ... Cassidy (R-LA) and Lindsey Graham (R-SC) ... medical device industry is in an odd place.  The ... 2.3% excise tax on medical device sales passed along ... covered patients, increased visits and hospital customers with the ...
(Date:9/18/2017)... Pa. and KALAMAZOO, Mich. , Sept. 18, ... , and OptiMed Specialty Pharmacy of ... to offer a strategic hub service that expedites and ... sought-after personal spirometer, Spiro PD 2.0, and wellness management ... spirometer is a medical device used to measure lung ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... The International ... promote standards of excellence for the field of eating disorders, announces the opening ... 25, 2018 in Orlando, Florida at the Omni Resort at ChampionsGate. ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, along with clinical associate ... primary prevention of cardiovascular diseases during the 15th Annual Women’s Health Conference. ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... Apple ... care services, staged a mock evacuation of the facility as part of a disaster ... Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well as the ...
(Date:10/13/2017)... , ... October 13, 2017 , ... The Visiting Nurse ... Market. Featuring a collection of specialty vendors and unique items from across the nation, ... quality-focused health and wellness services offered by the VNA. The boutique will be ...
(Date:10/13/2017)... Milford, NJ (PRWEB) , ... October 13, 2017 , ... ... weekend at scenic Alexandria Park in Milford, NJ. This free event, sponsored by ... and physical activity. The fun run is geared towards children of all ages; ...
Breaking Medicine News(10 mins):