RESEARCH TRIANGLE PARK, NC, Dec 06 (MARKET WIRE) --
In the wake of increasing pressure from state legislatures, more pharmaceutical
companies are instituting compensation limits for the physicians who they
work with, according to a new study from business intelligence firm Cutting Edge
Information (http://www.ThoughtLeaderCompensation.com).
The study found that 43.2% of pharmaceutical companies have annual
compensation
limits in place for individual thought leaders. Furthermore, the average limit
is
approximately $57,000 and the median limit is $32,500. Although not every
company
indicated that it had a compensation limit in place for opinion leader
relationships, the sense among pharmaceutical executives was that capping
physicians'
compensation will continue to be a growing trend.
"Many of the executives we interviewed expressed the need to collect
aggregate
spending data for their thought leader relationships," said Elio Evangelista,
research team leader at Cutting Edge Information. "Many companies are imposing
these compensation limits on themselves to assert more control over thought
leader activities before it hurts them from a compliance standpoint."
"Thought Leader Compensation: Establishing Fair-Market Value Procedures,"
available at
http://www.ThoughtLeaderCompensation.com, is a study designed to help
pharmaceuticalmanufacturers develop fee schedules for physicians' consulting and
advisoryactivities while still remaining compliant. The study provides
fair-marketvalue benchmarks of hourly rates, as well as additional fees for
services, such as:
-- Delivering a promotional or scientific speech
-- Leading, moderating or participating in an advisory panel
-- Writing a medical publication
A survey of 46 pharmaceutical firms found that the highest percentage
ofcompanies with compensation limits in place are Top 20 companies. In
fact,55.6% of large pharmaceutical companies have compensation limits in place,
compared to 30% for participating mid-sized companies and 50% for small firms.
"Thought Leader Compensation: Establishing Fair-Market Value Procedures" is
a study of
nearly four dozen pharmaceutical, biotechnology, medical device companies and
third-partyproviders' fee schedules for influential physicians in 20 therapeutic
areasand in various practitioner categories.
Download a free summary of "Thought Leader Compensation: Establishing
Fair-Market
Value Procedures" or purchase the report at
http://www.ThoughtLeaderCompensation.com.
CONTACT:
Elio Evangelista
(919) 433-0214
Email Contact
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