Baker Tilly’s Strategies for Optimizing HCP Engagement To Improve Efficiency
Authored by Darren R. Jones, Kevin Kao, Samantha Sutherland, Mario Prohasky
Over the past decade there has been a dramatic evolution of the technology supporting efficient and compliant engagements between life sciences companies and healthcare professionals (HCPs). However, even with these advancements, the industry continues to struggle in evolving decades old processes and procedures, creating solvable operational challenges in optimizing engagements and improving the experience of HCPs. Fundamental issues include a lack of standardized processes across commercial and medical teams, brand teams and global subsidiaries, as well as manual steps and disparate internal systems that are not equipped to handle complex engagements. Adopting best practices and utilizing technology during the HCP engagement process can assist in addressing these challenges, enhancing overall efficiency and effectiveness.
Navigating HCP engagement complexity
Despite technological advancements, there are several key challenges that continue to deter effective HCP engagement. In the life sciences industry, standardized processes are often lacking which lead to inefficiencies and fragmented experiences for HCPs. Also, manual steps can put a significant burden on internal resources, leading to inconsistent outcomes and inefficiencies for organizations. These existing internal systems are often not adequately equipped to handle the complexities of HCP engagement, which creates the need for more robust solutions. Ensuring consistent application of internal controls across all engagements remains a significant challenge. On top of these internal challenges, the dynamic regulatory landscape is constantly evolving, requiring organizations to stay up to date and learn to adapt. Effective HCP engagement requires seamless coordination across various departments, which can be difficult without integrated systems and clear communication channels.
Best practices for effective HCP engagement
To overcome these persistent challenges, organizations can implement several best practices.
- Streamline processes: Implementing a standardized and consistent method for HCP engagement can significantly elevate efficiency for life sciences companies. By leveraging advanced technology solutions, organizations can streamline operations by adopting flexible workflows tailored to customize processes for various risk levels and needs. Automation reduces the time spent on manual tasks and boosts data accuracy. Tailored workflows offer the capacity to manage diverse engagement risks effectively, creating ease of adhering to evolving regulations and improving overall efficiency in the HCP engagement process.
- Enhance physician experience: Focusing on the needs of the physician community is essential for success in HCP engagement. This includes simplifying processes for contract management, invoice submission and transparency information. Adopting a shared services model allows for the consolidation of these processes, leading to improved efficiency and a better overall experience in the industry. By centralizing these services, organizations can reduce redundancies, lower costs and ensure consistent quality across all interactions with HCPs. This approach not only streamlines operations but also enhances the satisfaction of HCPs by making administrative tasks easier and more transparent.
- Establish robust pre-engagement controls: Establishing pre-engagement controls is critical in optimizing the HCP engagement process. This begins with conducting a thorough business needs assessment to understand the specific requirements and objectives. Criteria can then be defined by selecting and nominating HCPs and ensuring that chosen individuals meet qualifications and align with organizational goals. Fair market value (FMV) compensation must be determined based on country and specialty and key opinion leader (KOL) tiering implementation to categorize HCPs based on their influence and expertise. Compliance with regulatory standards must be maintained to uphold legal standards and create transparency. These controls collectively assist with mitigating risk and promoting ethical practices in HCP engagements.
- Ensure international tax compliance: In the realm of HCP engagement, companies must understand and adhere to tax requirements across various jurisdictions. This involves ensuring proper documentation and compliance with local tax laws to avoid potential legal and financial pitfalls. By maintaining knowledge of tax regulations and obligations in each varying region, companies avoid penalties, ensure financial transparency and uphold their reputation. Effective tax management strengthens relationships with HCPs by demonstrating integrity and responsibility.
Implementing HCP engagement solutions
By standardizing processes, enhancing physician experiences and ensuring robust internal controls and tax compliance, life sciences companies can improve HCP engagement strategies. But optimizing HCP engagement requires a unified approach that addresses both technological and procedural challenges. Leveraging robust data management and ensuring consistent high-quality interactions are crucial for achieving sustained success. The increased flexibility of technology solutions has made implementing these best practices more attainable and accessible to growing organizations, regardless of size or global reach.
To help organizations navigate the complexities of HCP engagement and achieve greater efficiency and compliance in their interactions with HCPs, we've developed engagementNOW, an end-to-end HCP engagement solution. By leveraging engagementNOW, life sciences leaders can accelerate HCP engagement through simplified touchpoints, compliance reviews, automated payments and streamlined reporting. This user-friendly platform simplifies the HCP engagement process by combining Baker Tilly’s industry expertise with a customizable technology solution. This allows life sciences organizations to efficiently manage HCP relationships and make up for valuable time lost to the manual process of HCP interactions.
By emphasizing streamlined processes, technological integration and rigorous compliance with global and local standards, life sciences companies can overcome the challenges associated with modern HCP engagement. Through these strategies and technology solutions like engagementNOW companies can enhance HCP relationships, maintain regulatory compliance and ensure operational efficiency in the dynamic life sciences industry.
Contact us to learn more
For more information on this topic or to learn more about our compliance and ethics solutions for life science companies, connect with a Baker Tilly specialist.
