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Determining European KOL Compensation: Fair-Market Value Benchmarks 2011
Cutting Edge Information, Jan 2011, Pages: 181+
The pressure on drug and device companies to disclose their payments to key opinion leaders (KOLs) has emerged in Europe. Life sciences companies that had developed policies to manage disclosure requirements in the United States are now applying similar approaches to Europe and other parts of the world. To remain compliant with government regulations, industry codes and various agencies’ guidelines, drug and device companies must understand the fair-market value (FMV) for KOLs’ consulting and advisory services.
Stay ahead of the competition with the only FMV benchmarking report focused on Europe. For the first time, Cutting Edge Information has developed a report that provides FMV benchmarks specific to European KOLs. The benchmarks included in this report allow life sciences companies to set FMV fee schedules in Europe. This study provides compensation data for European KOLs across 29 therapeutic areas.
- Determine FMV compensation for European KOLs: Use the thousands of compensation benchmarks contained in this report to determine payments for opinion leaders across Europe. Use benchmarking data to find appropriate spending levels for companies of your size and for specific consulting and advisory activities.
- Ensure compliant compensation levels: Global policies increasingly require FMV payments to remain compliant across regions. Avoid overpaying or underpaying your thought leaders for specific activities. Remain competitive and attract new thought leader relationships, while staying compliant with your compensation levels.
- Compare Europe - US FMV fees: Although fair-market value trends and practices originated in the US, they differ for European thought leaders.
Learn the differences between FMV in Europe and the US to set an appropriate fee schedule for your European KOLs.
The two chapters and appendices in Determining European KOL Compensation: Fair-Market Value Benchmarks include metrics showing FMV payments to thought leaders from companies of varying sizes, for specific activities and through different payment methods.
Chapter 1: European Fair-Market Value: Generalized Data and Europe-US Comparison
This chapter compares fees for European thought leaders to fees paid to US-based thought leaders performing similar activities. The chapter provides an overview of FMV payments, including comparisons across different company sizes and thought leader categories. It also includes benchmarks for the average time required for a thought leader to perform specific activities.
Chapter Benefits
- Compare similarities and differences between European and US FMV payments.
- Understand which activities cost more or less in Europe than in the US.
- Learn which KOL categories command higher compensation in Europe than in the US.
Chapter Metrics
26 data charts detailing basic FMV payment comparisons between Europe and the US:
- Average duration of activities
- Europe and US FMV benchmarks for:
- - Small companies
- - Mid-size companies
- - Large companies
- Europe and US FMV benchmarks for payments made by:
- - Flat fees
- - Hourly rates
- - Honoraria + hourly rate
- Europe and US FMV benchmarks for activities, such as:
- - Clinical and commercial consulting
- - Speaking engagements
- - Advisory boards
- - Authorships
- Europe and US FMV benchmarks for the following thought leader categories:
- - Expert-in-Field
- - Specialist
- - Primary Care Physician
- - Allied Health Provider
- - General Practitioner
- - Internist
- - Nurse Practitioner
- - Pediatrician
- - Physician Assistant
- - OB/GYN
- - Professional Healthcare Educator
- - Dietician
Chapter 2: European Fair-Market Value: Payments by Company Size and Type
The publisher has determined that in Europe, thought leaders’ relationships with pharmaceutical companies vary based on the company size. This chapter analyzes FMV payments to thought leaders from companies of different sizes and types. The compensation for each activity is provided by company type and payment structure. Information is provided for each of three different compensation methods: flat rate, hourly rate, or honorarium with an additional hourly rate. This chapter also includes travel compensation and annual compensation caps.
Chapter Benefits
- An in-depth examination of payments arranged by company size and by thought leader type
- Each section profiles a different company size: Small companies, Large companies and Other or third party provider companies.
- In-depth analysis of FMV payments in Europe by company size
- Analysis on the different payment methods (hourly rate, flat fee and honorarium)
- Analysis of company policies over travel compensation in Europe
Key Metrics
54 charts focused on the following:
- Small, Large and Other (Third-party providers) company FMV benchmarks for
- - Flat fees
- - Hourly rates
- - Honoraria + hourly rate
- Small, Large and Other (Third-party providers) company FMV benchmarks for activities such as:
- - Clinical and commercial consulting
- - Speaking engagements
- - Advisory boards
- - Authorships
- Small company FMV benchmarks for the following thought leader categories:
- - Expert-in-Field
- - Specialist
- - Surgeon
- - Primary Care Physician
- - General Practitioner
- - Internist
- - Nurse Practitioner
- - Pediatrician
- Large company FMV benchmarks for the following thought leader categories:
- - Expert-in-Field
- - Specialist
- - Subspecialist
- - Primary Care Physician
- - Allied Health Professional
- - General Practitioner
- - Internist
- - Nurse Practitioner
- - OB/GYN
- - Pediatrician
- - Physician Assistant
- Other (Third-party providers) company FMV benchmarks for the following thought leader categories:
- - Expert-in-Field
- - Specialist
- - Subspecialist
- - Surgeon
- - Primary Care Physician
- - Allied Health Professional
- - General Practitioner
- - Internist
- - Nurse
- - Nurse Practitioner
- - OB/GYN
- - Pediatrician
- - Professional Healthcare Educator
- - Dietician
Appendices: Fair-Market Value Compensation Benchmarks
The four appendices in this report provide tabular data on fair-market value payments for thought leaders organized by healthcare provider type and activity type.
All of the tables present aggregate data across all therapeutic areas
Each of the four appendices includes data broken out by these qualifiers:
Company types:
- Small companies
- Mid-size companies
- Large companies
- Biotech companies
- Device companies
- Clinical research organizations
- Other companies (third-party providers)
Thought leader provider categories:
- Expert-in-field
- Specialist
- Subspecialist
- Surgeon
- Primary Care Provider
- Allied Health Professional
Healthcare professional categories
- Family/General Practitioner
- Internist
- OB/GYN
- Pediatrician
- Physician Assistant
- Nurse Practitioner
- Nurse
- Dietician
- Healthcare Educator
Activity data:
- Minimum and maximum hourly rate and flat fee ranges
- Hourly rates and flat fees for promotional and educational speakers
- Hourly rates and flat fees for leading, moderating and participating in advisory panels
- Hourly rates and flat fees for authoring a manuscript or an abstract
The four appendices also present the data in distinct formats. Each appendix organizes the data in a different break out:
- Appendix A: Fair-market value benchmarks for thought leader providers by company size
- Appendix B: Fair-market value benchmarks for thought leader providers by provider type
- Appendix C: Fair-market value benchmarks for healthcare professionals by company size
- Appendix D: Fair-market value benchmarks for healthcare professionals by provider category
THERAPEUTIC AREAS AVAILABLE
- Lifestyle Medication
- Medical Devices (non-Surgical/non-Implanted)
- Medical Devices (Surgical/Implanted)
- Mental Health/Psychology
- Musculoskeletal
- Nephrology
- Oncology
- Pain
- Public Health
- Respiratory
- Rheumatic Diseases/Rheumatology
- Urology
- Virology
- Women’s Health
- Alzheimer’s Disease
- Arthritis (non-Rheumatic)
- Autoimmune Diseases
- Cardiology & Thrombosis
- Cardiovascular Diseases
- Central Nervous System/Neurology
- Consumer Products
- Dermatology
- Diabetes, Type 1
- Diabetes, Type 2
- Endocrinology/Metabolic Diseases (non-Diabetes)
- Gastroenterology
- Hematology
- Immunology (non-Autoimmune)/Vaccines
- Infectious Diseases
- Inflammation (General)
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