A Life Sciences promotional education program is only as good as the insights and energy its speakers can deliver. The industry depends on those knowledgeable to educate its audience of Health Care Professionals (HCPs) through promotional speaker programs and related events.
Key Opinion Leaders (KOLs) are physicians with a professional reputation for far-reaching and high-quality expertise. They are on the cutting edge and, as such, their opinions are highly regarded and their knowledge sought-after by their peers in the healthcare industry. They participate in every stage of the therapeutic product life cycle, from the critical early research and development phase—during which Life Sciences companies consult with them to design clinical trials—to the market access portion, where KOLs can articulate and inform the broader HCP community of the value proposition a new therapy brings to today’s patient-centric care model.
IQVIA’s data analysis of promotional speaker program research shows that the highest level of KOLs, those whose expertise is sought not just among members of a local or regional community but across the country, can deliver powerful benefits and significant cost savings to Life Sciences companies managing these programs.
This new data details how these most sought-after KOLs— even those with fees that are nominally higher—bring to the table larger spheres of influence, and therefore can command larger audiences. The high demand for the knowledge these top-tier KOLs confer in educational programs, means the organizer can benefit from economies of scale that deliver measurable cost savings.
It stands to reason, then, that Life Sciences companies have a vested interest in nurturing their KOL relationships and making sure these pivotal figures are motivated to work with them. There are a few key tactics experts recommend for cultivating positive KOL relationships:
- These busy medical professionals need access to an efficient data portal that will let them manage their program participation in a seamless and compliance-centric manner.
- KOLs are eager to be on the cutting edge of research and industry developments. Life Sciences companies can provide this education via participation in clinical trials and scientific discussions, as well as access to the newest unpublished research that will make them a more valuable resource to their fellow HCPs.
- Sponsorship opportunities allow these busy professionals to continue making meaningful contributions to HCP education, and industry research, and provide “fair market value” compensation for the time this takes away from their work with patients.
- Peer-to-peer recognition programs give KOLs the opportunity to be recognized for their contributions to industry innovations, and development, by both other physicians as well as the industry at large. A robust HCP portal can include opportunities for feedback and analytics that KOLs value.
Utilizing a mutual and compliance-centric platform of support for KOLs, will go a long way in improving the effectiveness and return on investment that Life Sciences companies make in their therapeutic product life cycles.
For more information about IQVIA Commercial Compliance, please email firstname.lastname@example.org or visit our webpage. Our experts leverage the industry’s leading technologies to deliver streamlined processes and improved efficiencies that solve your toughest engagement and transparency challenges. From automating and managing the entire HCP/O contracting lifecycle, to capturing, collecting, and reporting global spend; to planning efficient and compliant HCP meetings and engagements—discover how our solutions can make compliance easier for you.