Track topics on Twitter Track topics that are important to you
RESEARCH TRIANGLE PARK, NC--(Marketwired - July 21, 2015) - Regulators worldwide are urging pharmaceutical companies to justify physician payments and compensation for all activities, including medical speeches, journal publications and clinical trials. However, despite this push for greater transparency, there is little harmonization on how best to calculate fair market value (FMV), especially in the United States.
According to "Clinical Investigator FMV and Compensation Benchmarks: Structuring Contracts and Planning Investigator Meetings," a study by pharmaceutical intelligence firm Cutting Edge Information, the top five most commonly considered factors in determining investigator compensation are therapeutic area, trial duration, phase of development, patient enrollment and geography. In the United States, however, only therapeutic area is considered by more than two-thirds of companies.
In Europe, four factors (therapeutic area, trial duration, phase of development and patient enrollment) are considered by 67% or more of surveyed companies. Similarly, six factors (therapeutic area, trial duration, phase of development, patient enrollment, geography and years of clinical research experience) are considered by 60% or more of surveyed Asian companies.
"Clinical Investigator FMV and Compensation Benchmarks Structuring Contracts and Planning Investigator Meetings," available at http://www.cuttingedgeinfo.com/research/clinical-development/clinical-investigator-fmv-and-compensation-benchmarks/examines payment structures and processes surrounding clinical investigator compensation. It explores popular strategies and tactics used to pay investigators, as well as the different ways that companies contract with investigators. The report also examines common milestone payments, the number of payments made to clinical investigators and the ranges and averages of direct costs that investigators often pass through to sponsors.
The study provides a valuable resource for clinical development managers, directors and vice presidents to stay informed on the latest trends around determining clinical investigator FMV. This report will help executives:
Cutting Edge Information's FMVConnect Database
FMVConnect, a benchmarking and analysis solution by Cutting Edge Information, provides healthcare companies with the data necessary to build key opinion leader relationships and to establish top-notch physician and non-physician fair market value fee schedules.
Our team of research experts has worked with thought leaders and pharmaceutical executives to develop a time-tested methodology for identifying and segmenting healthcare professionals and for determining fair market value for specific thought leader activities.
With Cutting Edge Information's FMV services, you can:
FMV data for different though leader activities are presented in tables and grouped by specialty, geographic region and tier. Our comprehensive database includes information from 117 countries, 109 specialties and subspecialties and 63 non-specialties.
Go to http://www.cuttingedgeinfo.com/physician-fair-market-value/ for more information.NEXT ARTICLE
Clinical trials are a set of procedures in medical research conducted to allow safety (or more specifically, information about adverse drug reactions and adverse effects of other treatments) and efficacy data to be collected for health interventions (e.g...
Clinical Research Organization
Contract Research Organization (CRO) provide research services outsourced on a contract basis to the pharmaceutical, biotechnology, healthcare and medical device industries: biopharmaceutical development biologic assay development commercial...