Over time, this data will reach the critical mass necessary to become a key factor in decision making. Embrace patient-centric healthcare by engaging and partnering with a broader range of healthcare stakeholders to more fully understand the different needs of patients and to be able to provide tangible value to patients. Presentation of scientific information to patients in a form they can readily understand will become more prevalent. Medical affairs has a lot on its plate. At the same time, widely publicized pharmaceutical company missteps have led to a greater demand for transparent data, policies, and operations. Enhancing medical value will require not only a deep comprehension of product characteristics but also a robust, market-informed view of both unmet medical needs and risk tolerance. While enhancing patient access and ensuring the best use of optimal medical treatment have always been core to the mission of Medical Affairs, demonstrating value is increasingly important as a third strategy objective. These myriad challenges can only be met by upgrading human-resource capabilities and developing a deeper talent pipeline that extends into the upper echelons of the company. People create and sustain change. McKinsey & Company worked with Medical Affairs executives across the industry to produce this updated 2020 Vision for Medical Affairs. At the heart of this effort, improved patient care and outcomes must be the central motivation of the Medical Affairs leaders. The definition of value, however, continues to evolve and expand across all major geographies. tab. While many of the trends predicted in 2007 will continue, the pace of change is expected to increase even more as we approach 2020. We use cookies essential for this site to function well. At QuantumHire, we wanted to emphasize a few points we have found working in the field and recruiting top talent in Medical Affairs… Pharma’s engagement with key opinion leaders (KOLs) and advisory boards will significantly transform under intense public scrutiny and demands for greater transparency through financial disclosures. well as new opportunities. Health Economics and Outcomes Research (HEOR) activities, including research and communications related to product value (e.g., product value dossiers, patient-related outcomes, health technology assessments). Something went wrong. 2004 Pharma, Biotech and Device Colloquium Medical Affairs – The Next S-Curve in Pharmaceuticals. Post-launch clinical trials, including the planning and execution of phase IIIb/IV company-sponsored interventional and observational studies and support of investigator-initiated studies. Conduct real world evidence analyses by mining large databases of payors and medical institutions for insights on how to improve treatments. As fiscal landscape challenges linger, Europe faces similar pressures, with more countries taking on increasingly radical structural reforms that fundamentally reshape the structure, funding, or organization of the healthcare system. Monitor and consider external patient data that may be directly posted and become accessible in public databases (for example, safety data). Online Library Pharma Medical Affairs 2020 And Beyond Mckinsey Company Pharma Medical Affairs 2020 And Beyond Mckinsey Company Yeah, reviewing a ebook pharma medical affairs 2020 and beyond mckinsey company could add your close friends listings. Those in MA now find themselves with direct responsibilities throughout the product lifecycle, interacting with virtually all stakeholders – both internal and external. Reinvent your business. In 2007, medical leaders from across the pharmaceutical industry assembled to develop a common understanding of a ten-year vision for Medical Affairs. Posted on 07/20/2016 07/19/2016 by Experience Matters. Pharma Medical Affairs 2020 And Beyond Mckinsey Company Author: kclx.nrfekkns.tagreplicawatch.co-2020-11-19T00:00:00+00:01 Subject: Pharma Medical Affairs 2020 And Beyond Mckinsey Company Keywords: pharma, medical, affairs, 2020, and, beyond, mckinsey, company Created Date: 11/19/2020 7:36:38 AM These will include new data – particularly real world evidence and patient-generated data (e.g., genomic information), which in the past were often disconnected data points – that now need to be considered in the context of broader information sets (e.g., safety data) and have to be integrated to best leverage insights (Exhibit 1). Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. Each stakeholder requires slightly different evidence or support - eg data, real-world evidence, proof of quality of care, 'beyond the pill' services - and pharma companies are increasingly looking to their medical affairs teams to gather the necessary evidence and share the information to … Furthermore, the behavior and expectations of both patients and physicians over the next five to ten years will increasingly follow trends enabled by technology advances (e.g., usage of mobile devices, remote data access, availability of real-time information, acceptance of social media as a new medium for interaction). Please try again later. our use of cookies, and The ability of Medical Affairs to take advantage of social media will further provide new insights into the patients’ point of view. Relationship management and communication of product information with healthcare providers, payors, and other medically-focused customers (e.g., regulators, institutional leaders) in collaboration with field medical teams, including medical-science liaisons. Drive rigorous standards of medical integrity, particularly in medical writing, communication of data and interactions with external healthcare providers. The role of patients will also fundamentally change with the rise of consumerism in healthcare. As part of these reforms, there will be a massive explosion in the generation and usage of real-world data, particularly data measuring comparative effectiveness. Add to cart Download now. The value of medical affairs lies in their scientific and clinical expertise. Previous Post Previous Pharmaceutical companies should focus on medication adherence to improve revenue. Maximize the medical benefits for customers by serving as the primary medical voice of the patient on all internal strategy discussions (for example, advocate for the patient-centric view as part of life cycle management strategy). Medical Affairs will also need to build new capabilities to leverage these insights. McKinsey & Company | 2014. We strive to provide individuals with disabilities equal access to our website. Increased transparency will put additional compliance pressure on pharmaceutical companies, especially on Medical Affairs, given its responsibilities in data generation and dissemination. Medical communications, including the writing and support for peer-reviewed publications and other medical and scientific communications. If achieved, the four aspirations below would enable Medical Affairs organizations to create significantly greater value for their companies, industry, and society: The healthcare system is increasingly resource-constrained, while at the same time treatment options are proliferating. Leverage scientific and medical discussions to deepen Medical Affairs’ focus on defining clinical treatment pathways. Digital upends old models. A new array of stakeholders with rising influence have emerged, including P&T committee members at hospitals, medical officers at IDNs and large physician practices, physicians with online prominence and commercial payors. Include patient advocacy groups as part of external medical engagement plans to maximize patient insights. Pharma Medical Affairs 2020 and beyond quantity. Embrace and experiment with new technologies in mobility and social media to be well positioned for the future. Key Medical Affairs themes: Your new role in 2020 and beyond: Hear industry leaders deconstruct the future model of medical. The greater focus within pharma on risk management (e.g., adverse event reporting), the emergence of new types of data and the increasing sophistication of patients and other stakeholders present more challenges and opportunities to which Medical Affairs personnel must adapt. Therefore access and treatment choices will ultimately require a solid understanding and convincing demonstration of medical and economic value. KOLs will have to avoid even the misperception of being paid spokespeople for pharmaceutical companies. New forms of cooperation for data generation between pharma companies and other stakeholders (i.e., accountable care organizations [ACOs], integrated-delivery networks, payors) should be considered (for example, joint clinical trials with leading ACOs offering access to their information systems and to real-time data, prospective-outcomes research with payors in their patient population). MSLs) and turning to be a central function and core element of any operations for pharma. We'll email you when new articles are published on this topic. In order to acquire and develop talent, Medical Affairs should take action on several fronts: Much work will be required to realize this vision to create value for individual companies and the industry overall. What is Medical Affairs? Moreover, as the facilitator, it is critical that Medical Affairs develop the one unified voice on the value proposition to patients, providers, and payors. As cost pressures continue to rise given ongoing healthcare reform, the decision-making power is gradually shifting from physicians to a new set of stakeholders who are driving containment of costs (for example, pharmacy and therapeutics (P&T) committee members at hospitals). Traditionally, medical affairs teams have relied on face-to-face interactions or print media to engage with and educate stakeholders. We believe that at least three new, stronger forces will emerge that will greatly alter the healthcare landscape: The definition of value will be much broader and will expand as the types of healthcare stakeholders who demand a demonstration of value multiply. Please click "Accept" to help us improve its usefulness with additional cookies. Some of the growing responsibilities to medical affairs in 2019 are: Medical launch leadership with trusted partnership … Nine Key Elements to Ensure Advisory Board Success. Learn more about cookies, Opens in new In order to understand and clearly demonstrate value Medical Affairs should do the following: With the rise of consumerism, patients are emerging as an important decision maker in healthcare. If you would like information about this content we will be happy to work with you. In the United States, rising healthcare costs have forced employers and governments to rely even more on payors to control costs and influence individual healthcare decisions, and healthcare reform promises to intensify that trend. Pharma Medical Affairs 2020 and Beyond. Patients can be expected to take a greater role in their healthcare decisions as they actively seek medical information outside their physicians’ offices. Develop clear processes and systems to collect, collate, and synthesize insights from different stakeholders and leverage these insights by collaborating with R&D and Commercial functions. Flip the odds. Unfortunately, public mistrust of pharmaceutical companies leads many to doubt pharma’s ability to present unbiased medical information to customers. It should aspire to the greatest data transparency (e.g., providing access to patient-level clinical trial data) in order to gain recognition as an unbiased source of medical information. Success in the future will require strong relationships with a broader range of stakeholders such as patient advocacy groups and payors. About the Pharma 2020 series. NJE-262620.822-20040525-sugnHR1 1 OVERVIEW Medical Affairs is increasingly the third major source of ... 2001 FTEs 2020 FTEs 5,500 9,900 FOR THESE REASONS SIGNIFICANT GROWTH IS In addition, industry contraction and stricter codes of conduct with respect to interactions with KOLs and other physicians have increasingly restricted the traditional Medical Affairs liaison role. Pharma Medical Affairs 2020 and beyond $ 0.00. Pharma Medical Affairs: 2020 and beyond A rapidly changing world for Medical Affairs Pharma’s Medical Affairs faces growing internal and external challenges as well as new opportunities In 2007, medical leaders from across the pharmaceutical industry assembled to develop a common understanding of a ten-year vision for Medical Affairs. Demonstrate the clear value to patients of medical and scientific engagement with physicians, payors, and other key stakeholders. Please use UP and DOWN arrow keys to review autocomplete results. Pharma Medical Affairs 2020 And Pharma Medical Affairs: 2020 and beyond Beginning in 2007, medical leaders from across the industry have assembled to discuss a future vision for Medical Affairs. The use of social media and innovative data collection will continue to expand as these become commonly used channels to hear the views of patients and physicians. Medical Affairs is both a rewarding and challenging area in the evolving environment of drug development and launch readiness planning. We additionally have enough money variant types and along with type of the books to browse. Medical affairs (MA) will be the single most powerful force in helping pharma do just that. 8:50 CHAIRPERSON’S OPENING REMARKS. Pharma Medical Affairs 2020 and beyond by McKinsey & Company. Never miss an insight. As the pharma model has been shifting from primary-care, blockbuster-drug discovery through to more specialised medicine and gene therapy, the science has naturally become more complicated. Pharma Medical Affairs: 2020 and beyond. Pharma’s Medical Affairs faces growing internal and external challenges as Today, these organizations commonly support the following medical activities: Given the significant changes in the healthcare landscape, this is an appropriate time to reassess and redefine the vision for Medical Affairs developed in 2007. At the same time, there will be an increased focus on evidence and higher hurdles for proving product value. More sophisticated systems and tools will be needed to prioritize and track interactions while new policies and processes will be required to avoid even the appearance of a conflict of interest in medical interactions. This will require a more flexible engagement model that adapts to a changed communication landscape and captures opportunities utilizing multiple channels, including electronic and digital media (Exhibit 2). Find out more about a career in Medical Affairs below, take a look at our jobs or speak with our specialist consultant Danielle Bent for an informal chat: +44 (0)1625 541 046 / danielle@carrotpharma.co.uk . Already growing in importance, Medical Affairs will become a key differentiator for pharma campanies prepared to adapt and invest in the function By Tom Disley on Feb 20, 2020 So much so, that we’re dedicating a keynote track to the function at our flagship events in Philadelphia and Barcelona. Pharma Medical Affairs 2020 At the same time, it is important for Medical Affairs to re-establish pharmaceuticals companies’ integrity and credibility by communicating higher quality medical information that is of the highest relevance to customers. Contact us for more information about our custom solutions. In order to engage and partner with healthcare stakeholders to understand patients’ needs, Medical Affairs should do the following: Medical information is increasingly complex and specialized, which makes it potentially highly valuable but often overwhelming to customers. Press enter to select and open the results on a new page. Formally rotate leaders through countries, medical, and other functions and assign new talent to areas that build on their strengths; they should be comfortable at the start of their journey but have explicit career trajectories. A 2020 Vision for Medical Affairs Accelerating the transformation and increasing the relevance of Medical Affairs Given the sgi nifci ant changes in the healthcare landscape, ths ii s an approprate time to reassess and redefni e the vsi oi n for Medci al Affaris deveol ped five years ago. The adequate book, fiction, history, novel, scientific research, as without difficulty as various new sorts of books are readily user-friendly here. The bar is high for Medical Affairs talent. Yeah, reading habit will not unaccompanied create you have any favourite activity. With seven years now past, it is hardly surprising that significant change has occurred in the world in which the pharmaceutical industry operates, especially given the remarkable economic environment and the continued acceleration of technological change. Read more > Post navigation. Effective facilitation and communication of medical knowledge and innovative approaches to data dissemination will be a key to regaining this trust. In order to fully demonstrate value, Medical Affairs must continuously upgrade its understanding of what value means from the perspectives of a broad spectrum of healthcare stakeholders – from patients to society to industry. For example, while patients focus on out-of-pocket costs, physicians focus on reimbursement, and payors/governments focus on cost to the health system. For example, due to the healthcare reform in the United States, patients now take a much more active role in healthcare decision making. hereLearn more about cookies, Opens in new Pharma Medical Affairs 2020 and beyond. Strengthen understanding of local medical practices and patient needs and derive relevant insights from it. Focus on capability building, especially at the local country level, which may require a cross-industry approach or effort to ensure the availability of the right talent pool. Subscribed to {PRACTICE_NAME} email alerts. The number and types of users of medical data and information will continue to expand rapidly. Learn about Page 1/6 Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. Join us at eyeforpharma Philadelphia to discover how. This is just one of the solutions for you to be successful. Acquire and develop the talent to cultivate and build a strong, multi-faceted Medical Affairs organization that encompasses the new set of competencies required to navigate the future healthcare landscape across the globe. In the complex continuum of medical product development, ExtendMed strives to build efficient systems for engaging experts to advance patient care. Fast forward and medical affairs now encompasses strategy, safety, quality, pharmacovigilance mentoring, clinical communications, post-launch trials, field teams (e.g. Understand how your role … Giving big pharma a new face: Accreditation Council for Medical Affairs CEO Dr. William Soliman on Fox News to discuss the rebranding of big pharma ACMA Chairman, CEO, Dr. William Soliman discusses Johnson & Johnson, Purdue Pharma, the opioid crisis and where the pharmaceutical … Drive internal efficiency by integrating relevant medical insights into a central knowledge repository that includes internal medical data, publications, and external knowledge from physicians and medical institutions. Collaborate to ensure that cost-effectiveness and comparative efficacy data are available at launch to enable payors and physicians to choose wisely among competing products. Going forward, we foresee that the types of medical data that are relevant for a product will increase significantly. Medical affairs professionals within the pharmaceutical industry, given their scientific background and training, have the ability and distinct opportunity to help fill this information gap and establish themselves with their “physician base” as a trusted source for scientifically sound medical communications. Matthias Evers is a director in McKinsey’s Hamburg office; Edd Fleming is a director in the Silicon Valley office; Arnab Ghatak is a principal in the New Jersey office, where Jan Hartmann is an associate principal and Ann Westra is a knowledge expert; Arif Nathoo, Ron Piervincenzi, and Lawrence Wai are alumni of McKinsey; and Brindan Suresh is an associate principal in the London office. Select topics and stay current with our latest insights. We believe that at least three new, stronger forces will Continued pressure from regulatory agencies and public sentiment have pushed more and more activities into Medical Affairs organizations. Staff should be encouraged to take on “safe” risks, lead regional or global initiatives, or make planned lateral moves in Commercial or R&D functions. Pfizer's Medical Affairs Lead, Rare Diseases, talks about purpose, patients and pharma's power to do good Racially diverse clinical trials: A new patient-led legacy takes root Andrew Stone , ( Oct 15, 2020 ) The Evolving Role of Medical ­Affairs George Betts, director, head of medical affairs operations, Ipsen Biopharmaceuticals Inc., says to best understand the evolving role of medical affairs it is important to know the external forces in the biotech and pharmaceutical industry that have impacted the medical affairs function over time. cookies, McKinsey_Website_Accessibility@mckinsey.com. All of them play an expanding role in clinical decisions through their treatment guidelines, protocols and formulary listings. tab, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. Increase accessibility to company-generated data for external evaluation and analysis – leading-edge companies have already made all of their trial data available online. Ensure that current leaders act as inspiring role models and serve as guides through formal mentorships, and that they are encouraged to provide the coaching that will get individuals, teams, and the entire organization to perform at a higher level. Read Book Pharma Medical Affairs 2020 And Beyond Mckinsey Company Would reading compulsion move your life? Facilitate coordination and integration of different medical data and types of knowledge in the company and achieve external recognition for providing credible and unbiased medical information. Medical Presentation.A rapidly changing world for Medical Affairs: Pharma s Medical Affairs faces growing internal and external challenges as well as new opportunities. Utilize insights from physician interactions to ensure that brand strategy maximizes the medical benefits for patients and physicians. collaboration with select social media and trusted analytics partners Pharma's Medical Affairs faces growing internal and external challenges as well as new opportunities. Moreover, as patients expect more information and two-way conversations, Medical Affairs has the opportunity to gain deeper insights into patients’ needs through patient advocacy groups. Pharma Medical Affairs: 2020 and Beyond. Many say yes. PDF Pharma Medical Affairs 2020 And Beyond Mckinsey Company collections to check out. Most transformations fail. Given the industry’s R&D productivity challenge and an overall risk-averse regulatory environment, maintaining a consistent focus on optimizing medical value across the product life cycle has become critical to pharma’s very survival. This report details their goals and ambitions for the year 2020… Companies are beginning to make detailed patient data that form the basis of trials of approved drugs and discontinued investigational ones accessible to researchers. It first must identify and understand new medical influencers and then develop effective and innovative ways to interact and partner with them. Q&A with Medical Affairs thought leaders describing changes in Digital and Field Medical during the pandemic and beyond APAC 2020 Virtual Register NOW for the premier Medical Affairs conference for the Asia-Pacific region: Nov 18, 25 & Dec 2, 9 Learn the essential elements of regulatory affairs related to the pharmaceutical & medical device industries.This is a convenient, online program that will provide you with the tools and knowledge needed to progress as a regulatory professional and … Deep patient insights have to come from engagements with emerging medical stakeholders and mining of new data, such as real world evidence. The Medical Affairs (MA) function is known to be a rather broad and hard one to define. Transforming this data into practical insights could drastically improve real-world medical decision making, providing value to physicians and patients. Article (PDF -4MB) Beginning in 2007, medical leaders from across the industry have assembled to discuss a future vision for Medical Affairs. In the world of patient-centric healthcare, Medical Affairs must develop a deep understanding of patients’ needs that encompasses the patient insights from different healthcare stakeholders. Reading pharma medical affairs 2020 and beyond mckinsey company is a fine habit; you can manufacture this infatuation to be such fascinating way. The past few years have also witnessed a gradual shift in decision-making power away from physicians through an increasingly number of control mechanisms (e.g., treatment protocols, payor restrictions). They need to collaborate with R&D colleagues and deeply understand the science that underpins their work; they must understand the rules and regulations governing the industry almost as well as their compliance and legal department colleagues; and they should have the strategic thinking capabilities of their marketing counterparts as well as the customer-interaction skills of their colleagues in sales. During the hiring phase, the key is to find candidates who surpass not only a minimum clinical and technical bar but who also have true talent “spikes” – people who may not possess all of the qualities required but who are distinctive in crucial areas that can provide a platform to more sustained success. To that end, Medical Affairs has to become more proactive about bringing insights from a broader range of external medical decision makers and influencers into early Clinical Development. Medical affairs teams are well positioned for this role with their detailed understanding of customers—physicians and patients—as well as the product. Many companies also chose to focus R&D resources on developing new products and moved post-launch activities, such as finding new indications for existing drugs, into the Medical Affairs function. This challenge reflects not only the need for useful insights from a wide array of sources but also for unbiased and credible communication of these insights. Our flagship business publication has been defining and informing the senior-management agenda since 1964. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. The Pharmaceutical industry's long successful strategy of placing big bets on a few molecules, promoting them heavily and turning them into blockbusters worked well for many years, but its R&D productivity has now plummeted and the environment’s changing. Only when mindsets shift from a technical focus to people skills – from leading projects to leading people – will truly capable leaders emerge. With unique access to a continuously updated understanding of the changing needs of physicians and patients, Medical Affairs can and should play a central role as the facilitator that brings the scientific voice to guide the design and execution of clinical studies. Offering secure community platforms for experts to collaborate in drafting manuscripts, distributing education, engaging study sites, training contracted speakers, managing approved slide decks and reporting Sunshine payments, ExtendMed’s solutions support a wide spectrum of life science clients – including pharmaceuticals, medical device companies, agencies, CROs, and medical associations. If you have been part of a Medical Affairs (MA) department or if you still have a strong relationship, you will understand that MA follows different rules and objectives than Commercial.At the heart of any pharma strategic model, there has always been the clinical and commercial functions, but it has not always been easy to fully measure and demonstrate the business value of MA. THIS WEEK’S MUST READ “The definition of value will be much broader and will expand as the types of healthcare stakeholders who demand a demonstration of value increase. Increased scientific, clinical, regulatory, and payer requirements to demonstrate clinical value and product differentiation in increasingly well-established therapeutic areas heightens the demand for an evidence package that clearly fulfills unmet medical need, and justifies cost. Need help with something you don’t see here? Relay insights for early life cycle planning that arise from value discussions with Commercial payors and hospital P&T committees. Interactions between pharmaceutical companies and various medical stakeholders will continue to evolve with the emergence of new decision makers and with greater public scrutiny of these relationships.