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:2/4/2016)... 2016 Wegener Polyangiitis - Pipeline Review, ... ,Wegener Polyangiitis - Pipeline Review, H2 2015, provides ... This report provides comprehensive information on the ... analysis at various stages, therapeutics assessment by drug ... (RoA) and molecule type, along with latest updates, ...
(Date:2/4/2016)... -- Omnicell, Inc. (NASDAQ: OMCL ), a leading provider of ... announced results for its fiscal year and fourth quarter ... --> GAAP results: Revenue for the fourth quarter ... 4.1% from the third quarter of 2015, and up ... 2014. Revenue for the year ended December 31, 2015 was ...
(Date:2/4/2016)... 2016  Blueprint Medicines Corporation (NASDAQ: BPMC ... selective investigational kinase medicines for patients with genomically ... board of directors of Lonnel Coats , ... of industry-related experience. Jeffrey Albers ... strong strategic experience developing and commercializing numerous oncology ...
Breaking Medicine Technology:
(Date:2/6/2016)... ... 2016 , ... Research has shown that building shame resilience ... and level of relapse. , At the 2016 iaedp Symposium, the ... the critical tasks of the recovery phase and beyond including relapse prevention and ...
(Date:2/5/2016)... ... February 05, 2016 , ... Love is in the ... a variety of colors, assortments and packaging. This staple for Valentine’s Day is a ... location. , For Valentine’s Day, not only are long-stem roses available, but also ...
(Date:2/5/2016)... City, UT (PRWEB) , ... February 05, 2016 , ... ... Whole-Food Nutrition , announced that the much-anticipated feature with author Jahnavi Foster, specialist in ... Humans Amateur TV Network. , Each week, on his weekly Whole-Food Warrior TV show, ...
(Date:2/5/2016)... ... February 05, 2016 , ... The event is being held ... Event Center in Minneapolis, Minn. Triumph Over Parkinson’s will fund nearly $100,000 for research ... Schneiderman’s Furniture, lives with Parkinson’s disease and is the architect of this informative event ...
(Date:2/5/2016)... Santa Rosa, CA (PRWEB) , ... February 05, ... ... are pleased to announce the addition of micro-needling services in their Napa Valley ... appearance. The founders of Plastic Surgery Associates, Dr. Canales and Dr. Furnas, are ...
Breaking Medicine News(10 mins):