11 apr13 1130 manage and report spend in third party interactions canonica whitaker
TRANSCRIPT
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Guest: Ekaterina Walloe – Novo Nordisk Agnès Canonica – MD Events Sam Whitaker – Greenphire
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What Why (well… as of yesterday, still debatable)
Let’s talk about the How on HCP attended meetings
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What is the percentage of total costs for F2F Investigator meetings for Phase I – III study?
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IHI, NPI, RPPS Domestic vs. International Fields Licensed vs. non-licensed Reporting deadlines Individual vs. aggregate/average costs Tracking meals/breaks - “coffees” DDR in EU Opt-In / Opt-Out Inviting sites after government approvals
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This does not include:
Meeting, location & venue approval by sponsor compliance
Meal cap LCD
Visa requirements
HCP contracting for Scientific services @ meetings
VAT / IVA reclaims
Pre/post HCP expense management
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Sign-in Sheets? Barcode scan RFID system Deciphering and compiling the data
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Knowledge Control Accuracy Meeting & regulation policy Reporting SOP Connecting the dots
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Data privacy HCP Reimbursements - €€€ for € 45 taxi ride Efficiencies – very manual process Very aggressive reporting timelines Patriot Act – prohibitive in certain geos. Brazil & Russia – difficult payment process HCPs conundrum: are all manufacturers
reporting spend equally? Accuracy of data
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Global footprint with global knowledge of regs and requirements in any scenario
Dedicated on-staff Compliance Officers Expertise in reporting Facilitating conversations between PM &
Compliance Cost effective solutions KPIs / SLAs Global consistency
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How many CROs in the audience? How many meeting planning agencies?
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Ekaterina Walloe – Novo Nordisk▪ Where she sits in her organization
▪ Training CROs
▪ Training meeting agencies
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Vendor 1 Vendor 2 Vendor 3
PharmaCompany
HCP 1
HCP 2
HCP 3
HCP 4
HCP 5
1) Pharma contracts with vendor and provides funds for pass through distributions
2) Vendor executes works and distributes payment to HCP / HCO as required per contract using vendor managed process
3) Vendors provide distribution data back to pharma company
$ £ ¥ €
$ £ ¥ €
$ £ ¥ €
$ £ ¥
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1) Vendor managed processes are largely manual which will drive errors
2) Vendors will have difficulty managing global authorization requirements for country specific legislation-driven rules
3) Reconciling reported data against vendor financial systems will be difficult / impossible
4) Increased vendor cost associated with spend aggregation and reporting
5) Vendor tracking across global geographies may be overly burdensome if infrastructure is not in place
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1) Pharma contracts with vendor and provides funds for pass through distribution to technology solution
1) Vendor manages payment execution to HCP / HCO for work complete via web portal
2) Tech solution centralizes payment distribution and data aggregation across 3rd parties and provides a single data feed back to pharma co.
$ £¥ €
Vendor 1 Vendor 2 Vendor 3
Pharma / Biotech / MedDev Company
HCP 1
HCP 2
HCP 3
HCP 4
HCP 5
Technology Solution
$ £ ¥ € £
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Centralizing HCP/HCO payment distribution via third parties:
1) Provides reporting entity a single source of data across all third parties
2) Gives reporting entity control of payment authorization rules (e.g. -company policies, country legislation and regional legislation)
3) Allows reporting entity the ability to change data output parameters within a single source instead of across multiple third parties
4) Enables reconciliation of reported spend data against financial system responsible for payment distribution
5) Eliminate many manual processes and reduce margin for data error
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Centralized Payment Data Provides Intelligence:
1) Benchmarking - Track HCP/HCO contract data via third parties for use in benchmarking FMV in future contracts and evaluate effectiveness of third party negotiation
2) Accounting Analytics - Expense accruals and forecast reporting / analytics on global basis
3) Business Intelligence – BI functionality to surface global spend data by activity, payment type, HCP/HCO, region etc. in order to help drive intelligent business decisions
4) Economies of Scale - Reduction in cost of third party HCP/HCO payment management
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A Few Key Traits to Look for in 3rd Party Payment Technology:
1) BI Functionality via Web - Ability to surface payment data in a meaningful way for dashboards, reconciliation analysis, financial/performance analytics, speedy conflict resolution etc.
2) Global Capabilities - Able to execute payments globally
3) Intelligence - Able to manage complex contract terms and budget arrangements
4) Configurability – Able to manage approvals workflows (including intelligence to “auto approve” if a payment can be validated against another system
5) Integration capability – Ability to manage bi-directional data flows with other systems
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Top 10 Pharma Company ~135 study starts per year
~70% Ph2a – Ph3
~7,000 unique contracts executed indirectly 60% outsourced to CROs (multiple CROs) Indirect HCP spend in LatAm, EU,
APAC and NA
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“It is not the strongest of the species thatsurvives, nor the most intelligent thatsurvives. It is the one that is the mostadaptable to change.”
- Charles Darwin
… and getting it right!
- Agnès Canonica
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QUESTIONS?
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Agnès Canonica, CMP, CMMGeneral Manager – AmericasPhone: US +1 610.825.2660E-mail: [email protected]
Sam WhitakerFounder & CEOPhone: US +1 215.609.4640E-mail: [email protected]