04 dez key account management in pharmaceutical industry case study
Perhaps you’re ready to move to a key account management approach, or you’ve already implemented one, but you’re puzzled about the lukewarm results. Case Study of Pharmaceutical Industry . Whilst it is the operating model and processes that put the organisation on the right track, technology will be what makes these scalable. Case Studies - Pharma Lupin Limited – A Pharmaceutical company ranked among top 5 Pharma companies in India, develops and markets a wide range of quality, affordable generic and branded formulations and APIs in multiple markets across the world. Key account management takes care of big customers, such as hospitals, wholesalers and pharmacies, whereas territory management tries to influence what doctors prescribe. It assembled multifunctional teams to serve those accounts and sharpened the focus on profitability by instituting new metrics and incentives. These days, nearly every pharmaceuticals marketing and sales conference has a breakout session dedicated to "KAM" and almost every pharmaco has some type of KAM function. A significant success factor in transforming is maintaining commitment throughout the entire process, where strong leadership and advocacy is developed to establish priorities and ensure old ways of working are not allowed back in. Key account management nowadays appears not to be a lot more than a new buzzword in many cases, seen as successor or the saviour of the sales force. Generally, it is not feasible to assign full P&L responsibility to KAMs, but that can also limit true ownership of an account. At least once a year we need to look beyond dollar numbers, relationships and activities to think about our Key Accounts process.A good deal of frameworks are mentioned in the book “Key Account Management-The definitive guide” by Malcom McDonald & Diana Woodburn.” CASE STUDY Industry: Pharmaceutical Product Name: MobiSales ‐ Pharma . Sales & Channel Transformation, Enjoying our resources? Today, Wal-Mart is by far P&G’s largest customer, representing about $12 billion in sales, or 14 percent of total P&G revenues in 2012. Qualifying where the customer sits in the journey can also allow Key Account Managers to be more targeted in allocating the resources needed to help progression, with the critical factor lying in the knowledge of what everyone is responsible for at every stage. Embed the Key Account Management structure When key account management in the pharmaceutical industry is compared with that of other industries, including consumer goods and industrial products, it’s clear that most pharma companies are still lagging. Given their central vantage point and role as relationship coordinator, key account managers are perfectly positioned to manage the overall business relationship, including contract renewal; to spot emerging customer needs that represent potential opportunities; to anticipate and fend off encroachment by competitors; and to initiate joint value-generating efforts. For instance, the contracting and pricing teams would coordinate with the KAM to determine how to negotiate rebates and discounts; marketing would develop programs and initiatives; sales reps would offer product information and education to the physician and nursing staffs and conduct promotional activities in the medical wards; and medical affairs personnel and liaisons would create medical programs and ensure that medical and scientific information needs were being addressed. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, protected veteran status, or any other characteristic protected under federal, state or local law, where applicable, and those with criminal histories will be considered in a manner consistent with applicable state and local laws. A strong operating rhythm is the glue that will hold the transformation together, where everyone involved understands what to do and how to do it. Yet the foundations of KAM hold true across all verticals. The two companies launched many joint initiatives, including a ground-breaking supply-chain collaboration in which they introduced radio-frequency-identification technology to track and manage inventory. The more sophisticated payers and integrated providers are also investing heavily in building capabilities. Ask yourself the following questions: Key account management is not just about sales or quarterly results. An absence of ongoing coaching and training to embed new capabilities can cause people to slip from the new operating model into old ways of working, albeit with slightly more nuanced skills. But integrating Key Account Management across large Pharma organisations is not a straightforward endeavour, with a myriad of challenges to overcome along the way. Most hospitals now employ a variety of analytical tools, such as benchmarks and studies, to evaluate price, cost effectiveness, and outcomes. Commit to realistic steps CAPA within the Pharmaceutical Quality System 1 Martin VanTrieste, R.Ph SVP Amgen ICH Q10 Conference October 4-6, 2011 – Arlington, Virginia November 14-16, 2011 – Brussels, Belgium Pharma companies needn’t risk being put on the defensive. Unlike traditional hospitals, more-sophisticated hospitals, such as specialty clinics, typically have well-established, central formularies with strictly enforced treatment protocols. A central goal of key account management is to lay the foundation for long-term collaboration. As a result of its strategic partnership, P&G’s business grew from around $400 million in 1990 to more than $4 billion only a decade later. A higher level of business acumen, accompanied by the ability to leverage technology and data, will enable the provision of strategic insights centred around the customer’s needs. The pharmaceutical industry presents one instance. In return, the producer granted the pharma company exclusive supplier status and ongoing access to outcomes data. In return, it gets preferential status on the clinic’s formulary, along with better access to the clinic’s physicians. There’s no doubt that undertaking such a large-scale transformation will be considerably challenging for most Pharma organisations. To do this, absolute role and goal clarity must be implemented to ensure awareness of the role of each function at every stage of the journey, and support adoption outcomes. Outlining from the start that the change will take time to filter through is key to keeping people motivated to continue progressing. Treatment decision making is rapidly shifting from the individual physician to a diverse set of institutional customers, from hospitals to integrated care entities, and from payers to pharmacies and health-benefit-management companies. For Aspiring Pharmaceutical Sales Representatives You Are Cordially Invited To See A Fact Filled Webinar To Learn Valuable Tips To Help You Get A Pharmaceutical Sales Job This is an invitation for you to join Clint Cora, a former National Sales Manager from the pharmaceutical industry for a 30 minute webinar … P&G products, in turn, became Wal-Mart’s most profitable—and Wal-Mart was able to capture value without raising prices. The Health Science industry is increasingly seeing strong pipelines, or smaller niche brands in targeted segments, challenging the traditional methods of launch planning and execution. The pharma company provided dedicated, onsite, technical and medical staff; collected proprietary data; and conducted follow-up research. Whereas the transactional environment has a clear buyer to work with, the Pharma Key Account Manager has to contend with things such as protocols, formularies, administrators, key opinion leaders, clinical leads, and community healthcare services; all of which can have a positive or negative effect on a product’s route to adoption and, ultimately, being prescribed. Inherent risks in every stage of the science of developing a new product need to be managed effectively. Many pharma companies do practice some form of key account management, but gaps exist in even the best-managed companies. Critical to achieving this cross-functional integration is aligning the entire business behind a cohesive strategy, with Key Account Management seen as the tool to effectively enable this alignment, embed roles and build the operational rhythm to bring everything together. 1. To this end, the sales representative focused on relationship management is no longer effective, with a true advocacy approach required to bring together resources derived from the customer’s needs. Successful key account management demands a deep understanding of customers’ operating models, needs, and objectives. Key Account Management is fast becoming an integral cog in the medical, marketing and sales wheels of many large Pharma organisations in the digital age. Als Key Account Manager (m/w/d) bist du Teil eines dynamischen Teams, das neue und innovative Wege schafft, Menschen und Fashion miteinander zu verbinden. This case study is about Valeant Pharmaceuticals, a Canadian-based multinational pharmaceutical company. Boston Consulting Group is an Equal Opportunity Employer. This generalised view is directionally accurate, but there are many other elements to consider in the Pharma context that simply don’t exist in the world of transactional B2B selling. BCG was the pioneer in business strategy when it was founded in 1963. These changes are adding weight to an ever-present and growing need to become more cross-functionally integrated across the organisation. Pharma companies, too, need to seek opportunities for joint value creation with their customers—for instance, by improving patient outcomes while reducing redundancies, minimizing overlap, and decreasing overall treatment costs. The vast majority of businesses currently have the core technology in place to achieve this, but don’t have the required knowledge and capability to move forward. Key Account Management Strategy Analysis. Vast changes in the health care landscape worldwide are transforming customers. The salesperson perspective: The Key Account Management (KAM) role is often the highest-status sales job in an organization, and salespeople aspire to it. - Increased push for continued overseas aid, particularly through the United Nations and the European … Capabilities (Take the capabilities from S1.3 above. 3. Sei verantwortlich für die Erstellung von Business Cases, maßgeschneiderten Präsentationen in enger Zusammenarbeit mit Merchandising-Teams, Sales, Business Development und Category Managern * Identifiziere Chancen, steigere die … That is, your choice of 5-10 capabilities). Fortunately, many healthcare accounts have more room for win-win collaborations, by focusing on total healthcare costs management (second column of the table). Pharmaceutical Case Studies, Pharmaceutical Case Study, ICMR develops Case Studies, Micro Case Studies, Latest Case Studies, Best Selling Case Studies, Short Case Studies, business research reports, courseware - in subjects like Pharmaceutical Cases, Marketing, Finance, Human Resource Management, Operations, Project Management, Business Ethics, Business strategy, Corporate … Enable internal cross-functional collaboration. Dig deep to mine customer insights. The goal of Key Account Management in Pharma is very much to get to the point of customer product adoption, and then accelerate and expand usage. Joint working teams continue to run these shared endeavors, and common scorecards monitor progress. With the resulting information, the company was able to develop a vaccination program that was tailored to the producer’s swine species, growth program, supplement regime, and other relevant factors. A simple example can illustrate the sophistication and specialization dimensions within the hospital segment. Consider the creative collaboration between a leading animal-health pharma company and its customer. Many pharma companies have a one-size-fits-all approach to serving customers. We expect to double our adoption of Agile this year.” —Patty Sheehan, AZ Agile Cultural Change Lead and Coach. As a business discipline, it refers to the process of identifying or targeting key accounts, which have strategic value, and developing a deeper, more meaningful, mutually beneficial relationship with them. For each account, KAMs created a detailed plan for securing a place in the formulary, adapting protocols, and ensuring adoption. READ MORE… The Valeant Pharmaceuticals Case: Part 1 of the Valeant Pharmaceuticals Series. Instituting new metrics and incentives key influencers: doctors launching or expanding efforts to assess medicines and in! 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