Challenges to Traditional Pharma Incentive Compensation Plan Design for Today’s Rapidly Changing Pharmaceutical Environment

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GlaxoSmithKline (GSK) executives made industry news in 2011 by announcing that their sales reps would no longer have their at-risk compensation based on prescription (Rx) volume generated by physicians.1 The traditional proportion of base-salary to at-risk incentive compensation (IC) for pharma sales reps is about 75%-80% to 25%-20% respectively.

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Aenova Group

With a planned turnover of around EUR 760 million in the current financial year, the Aenova Group is one of the leading companies in the global pharmaceutical and healthcare industry.

OTHER ARTICLES

Artificial intelligence in pharma: utilising a valuable resource

Article | March 11, 2020

The pharmaceutical industry is set to greatly benefit from the use of artificial intelligence (AI), due to its wide range of applications. Sydney Tierney discusses how machine learning can enhance marketing, manufacturing and drug trials. Artificial intelligence (AI) can be applied to nearly every aspect of the pharmaceutical and healthcare industry, to enhance data processing. Adopting the technology will reveal the astonishing potential of the healthcare sector, with success rates flying higher than ever before – especially in the research and development of crucial, life-changing drugs.

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How pharma can continue engaging HCPs in a world gripped by COVID-19

Article | March 11, 2020

Medscape is the leading source of clinical news, health information, and point-of-care tools for healthcare professionals. Medscape offers specialists, primary care physicians, and other health professionals the most robust and integrated medical information and educational tools. Medscape Education (medscape.org) is the leading destination for continuous professional development, consisting of more than 30 specialty-focused destinations offering thousands of free CME and CE courses and other educational programmes for physicians, nurses, and other healthcare professionals. Both Medscape and Medscape Education are part of WebMD Health Corp., an Internet Brands company. Face-to-face interactions between pharma and physicians have essentially ceased overnight during the COVID-19 pandemic, but that doesn’t mean HCPs have stopped looking for new medical information.

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Pharmacist eCare Plan - the newest disrupter in health data exchange?

Article | March 11, 2020

Every member of the health care team shares a common goal of optimizing patient outcomes. Yet each specialty and position of the healthcare team has a unique workflow facilitated by various tools, from an operative report to a progress note. In this regard the pharmacist plays a pivotal function in medication management and requires documentation specific to that role. The Pharmacist eCare Plan (PeCP) allows for an interoperable note to be used in the pharmacy to assist in the exchange of patient information, including active medication list, laboratory results, and payer information. To allow for this, a new type of clinical document architecture for the PeCP was created and standardized for use across pharmacies.

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What to Watch in 2020: Non-Specialty Drugs

Article | March 11, 2020

Pharmaceutical manufacturers are constantly working to develop new and improved medications. Join us as we explore the non-specialty drugs you should be watching in 2020. If you missed last week’s article about the most important upcoming specialty drugs, be sure to check it out here. Approximately 40 new medications are approved by the Food and Drug Administration (FDA) every year.1 (Please note: If you’re curious about what it takes to develop a drug and bring it to market, check out our previous article). Why should you care about these new medications? Because they can affect both your organization’s pharmacy spend and your members’ cost share. For non-specialty drugs, we will focus on medications that may come to market this year, including ones that are currently being reviewed by the FDA, or that are in the last clinical trial (Phase III) stage.

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Spotlight

Aenova Group

With a planned turnover of around EUR 760 million in the current financial year, the Aenova Group is one of the leading companies in the global pharmaceutical and healthcare industry.

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