RESEARCH TRIANGLE PARK, N.C.--(EON: Enhanced Online News)--A study of pharmaceutical companies found that 47% of drug makers’ educational speaker programs receive at least part of their funding by their marketing departments.
“Pharmaceutical Continuing Medical Education: Trends in Educational Event Management and CME Strategy”
Cutting Edge Information’s study, “Pharmaceutical Continuing Medical Education: Trends in Educational Event Management and CME Strategy,” discovered that the top two departments contributing to speaker program budgets are marketing and medical affairs teams. Marketing teams are typically uninvolved with educational speaker programs’ content. However, the department is still a likely contributor to the budget because even speaker programs targeted at disease state and mechanisms of action education can build relationships with key opinion leaders. Despite the fact that medical affairs teams guide educational speaker program content in both action and purpose, only 33% of these groups contribute to their companies’ event budgets.
Marketing, sales and medical affairs teams are the top three departments that contribute to Top 10 pharmaceutical companies’ speaker program budgets. Cutting Edge Information’s research found that top 50 companies primarily fund their medical education speeches through their marketing and brand teams.
The smallest drug companies, however, fund their educational speaker programs through medical affairs teams. “Overwhelmingly, medical affairs is a source of funding at small companies surveyed,” said Sarah Ray, research analyst at Cutting Edge Information. “In contrast, marketing and sales contribute to the budget far less frequently. And Medical device companies, similar to Top 10 and Top 50 pharmas, often receive their speaker program funding from marketing.” Cutting Edge Information’s study found that half of surveyed medical device companies also received speaker program budget funding from their thought leader development teams.
“Pharmaceutical Continuing Medical Education: Trends in Educational Event Management and CME Strategy” (http://www.cuttingedgeinfo.com/research/medical-affairs/pharmaceutical-medical-education/) provides performance metrics for medical education speaker events and continuing medical education management, including typical attendance, average cost per attendee and best times to hold events. Use this report to:
- Prepare educational speaker programs to face increased public scrutiny and smaller budgets.
- Create superior educational speaker programs by recruiting, training, and compensating high-caliber speakers.
- Understand the Sunshine Act and the impact of increased transparency on speaking events.
For more information about educational speaker programs and continuing medical education, contact Cassie Demeter at 919-403-6583.