Warranty Management Excellence Measuring Performance through Product Return Data Report Summary
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Many companies are seeking ways to serve the underappreciated Employer Market in a complementary approach to the traditional pharma commercial model. Efforts focus on building long-term business relationships and working as a kind of consultative partner who can help employers improve not only health outcomes for employees but also business outcomes in general. Study Objective – Analyzes how leading companies are approaching interaction with Employer Markets and how they structurally organize their employer groups, and carry out activities in the field. Managed care, managed markets and other sales and marketing heads can use the metrics and narrative insights contained in this study to compare their employer groups to those of other top companies, or to spearhead a new employer market effort within their own organization.
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Warranty Management Excellence Measuring Performance through Product Return Data Report Summary
- 1. Serving the Healthcare Needs of Employers Employer Market Strategies and Tactics Best Practices, LLC Benchmarking Report Summary BEST PRACTICES, ® LLC
- 2. Table of Contents Project Overview Key Insights Detailed Study Findings Appendix Additional Quotes About Best Practices Copyright © Best Practices®, LLC 1 BEST PRACTICES,® LLC
- 3. Project Overview Copyright © Best Practices®, LLC 2 BEST PRACTICES,® LLC
- 4. Project Methodology and Study Objectives Research was conducted through a field survey and in- depth interviews Key study objectives Benchmark how pharmaceutical companies organize their efforts to approach the employer market Identify common practices such as organizational patterns, payment structures, and measures of success Gain insight into trends, challenges, and lessons learned in serving this market Copyright © Best Practices®, LLC 3 BEST PRACTICES,® LLC
- 5. List of Participating Companies Representatives from 17 companies participated in this research. Respondents claimed a median of 21 years experience in the biopharma and medical device industries. Alcon Labs GlaxoSmithKline Abbott Labs Johnson & Johnson Bayer Healthcare MediMedia Boehringer Ingelheim Novartis Beltone Electronic Novo Nordisk Celgene Roche Centocor Ortho Biotech Solvay Pharmaceuticals Ethicon Endo-Surgery Ther-Rx Corporation Genentech Copyright © Best Practices®, LLC 4 BEST PRACTICES, ® LLC
- 6. Job Titles of Participants The range of titles suggests both the variety of structures in place for working with employers and the differences in operations implied by these structures. VP Director, Corporate Alliance VP, Sales VP, Employer Group Associate Director, Employers VP, Sales Operations and Healthcare Area Director, Managed Markets Management Executive Director National Healthcare Executive Director, Sales Sr. Employer Account Executive Director, Managed Markets and Healthcare Solutions Senior Manager Director, Managed Markets and Market Manager, Managed Care Strategic Customer Research Director, National Strategic Alliance and Manager, Healthcare Programs Accounts Copyright © Best Practices®, LLC 5 BEST PRACTICES,® LLC
- 7. Sample: Key Insights Copyright © Best Practices®, LLC 6 BEST PRACTICES,® LLC
- 8. Sample Finding: The Employer Market Opportunity Employer Market executives and practitioners often exhibit a kind of missionary zeal when talking about their work and the value of programs and initiatives directed at employers. The employer market represents an alternative and complementary approach to the current commercial model Another way to offset problems of reduced access In keeping with new emphasis on payors, plans, and formularies “It’s not about drug dispensing anymore; it’s about healthcare.” As the “real” payers, employers are assuming a more active role in healthcare decision making “The writing was on the wall that employers, large employers, were making significant decisions relative to the benefit designs that they have and actually getting down to the product level.” “Well, it's just follow the dollar, right? Basic economics. Healthcare costs are not just a blip on their [employers’] P&L anymore. They're digging into what they're paying for and what they're getting and seeing the costs go up, but not necessarily what they're getting in return for it. Employer market executives believe this is a critical area.” Copyright © Best Practices®, LLC 7 BEST PRACTICES, ® LLC
- 9. Sample Finding: Organizational Structure EM Leadership Shares Resources with Managed Markets An independent Employer Market leader coordinates activities with MM account executives in the field and with internal stakeholders in Managed Markets, Sales, and Marketing. Marketing/Brand Managed Markets Sales Leader Leader Leader National Accounts Employer Market Regional Accounts Director Director/Coordinator Director National Accounts AE Regional Accounts AE National Accounts AE Regional Accounts AE National Accounts AE Regional Accounts AE National Accounts AE Regional Accounts AE Copyright © Best Practices®, LLC 8 BEST PRACTICES, ® LLC
- 10. Sample: Detailed Study Findings Copyright © Best Practices®, LLC 9 BEST PRACTICES,® LLC
- 11. Oversight of Employer Market Group Varies Widely Level/Title Department/Function President, Strategic Marketing Commercial Group Managed Care and Trade VP Managed Markets VP Managed Markets Sales Corporate VP U.S. Managed Markets Area VP Employer Segment Executive Director Employer Accounts Director, Reimbursement Strategy Strategic Accounts Regional Director Channel and Contracting n=8 n=8 Strategy Q. To whom does the most senior person in the employer group report? Copyright © Best Practices®, LLC 10 BEST PRACTICES,® LLC
- 12. Large Employers and Coalitions Are Main Targets Large employers 88% (5,000 or more FTEs) Medium employers 41% (1,000 to 4,999 FTEs) Small employers 18% (Under 1,000 FTEs) Employer coalitions 65% n=17 0% 25% 50% 75% 100% Q. Which types of employers does your company call upon? (multiple responses) Copyright © Best Practices®, LLC 11 BEST PRACTICES, ® LLC
- 13. Various Disease States Are Addressed Companies address a full spectrum of disease states. The specific disease state(s) discussed are normally determined by a given employer’s wants or needs. Obesity 29% Other Disease States Addressed Include: Diabetes 29% • Asthma • Allergy Cancer 18% • Nasal • Ophthalmic Cardiovascular 18% • Optics • Pain Hypertension 18% • Migraine • Hearing Loss Smoking 18% • Metabolic Health • COPD Women's Health 12% • CKD • IMID Diseases Other 53% • Wellness and Prevention • Vaccines • Surgery n=17 0% 20% 40% 60% 80% 100% • Surgical Solutions • Consumer Brands Q. Which disease states does your company focus on for employers? (multiple responses) Copyright © Best Practices®, LLC 12 BEST PRACTICES, ® LLC
- 14. About Best Practices, LLC Best Practices, LLC is a research and consulting firm that conducts work based on the simple yet 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. Best Practices, LLC 6350 Quadrangle Drive, Suite 200, Chapel Hill, NC 27517 919-403-0251 best@best-in-class.com www.best-in-class.com Copyright © Best Practices®, LLC 13 BEST PRACTICES,® LLC