RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Regulations in the Middle East around pharmaceutical companies’ payments to physicians are less restrictive than in larger, more developed US and European markets, finds a new study.
Cutting Edge Information’s report, “FMV Processes and Physician Fee Schedules: Establishing Transparent HCP Relationships in Middle East Markets,” examines companies’ challenges aligning transparency policies and compensation restrictions in US and European offices with their Middle East counterparts who are not restricted by similar country-specific legislation.
Instead, many of these countries have a promotional code of conduct in place. These codes of conduct work to ensure that companies operating in the country uphold ethical standards when working with and presenting information to the local medical community. Firms operating in Middle East countries must also adhere to other codes of conduct, including the Middle East Africa Committee’s (MEAC) Code of Pharmaceutical Promotional Conduct. Like the country-specific codes, the MEAC’s code of conduct is not strict legislation, but rather a set of guidelines.
Interviews with executives in the Middle East revealed that free of strict legislation, their teams leverage companywide compensation SOPs to determine Middle Eastern physician payments. Often, key opinion leader (KOL) payments are determined by the national average physician wages and are compatible with the country’s promotional guidelines. However one company leverages an internal matrix system to set physician rates. This matrix weighs criteria including a physician’s specialty, seniority level and speaking exposure to determine a pre-set honorarium. Unlike at other pharmaceutical companies surveyed, KOLs with comparable credentials receive similar compensation throughout the company’s Middle East territory rather than varying payments by the countries’ costs of living.
The study “FMV Processes and Physician Fee Schedules: Establishing Transparent HCP Relationships in Middle East Markets,” (http://www.cuttingedgeinfo.com/research/medical-affairs/middle-east-fmv/) contains FMV data from drug and device companies operating in the Middle East. It covers best practices for developing FMV fee schedules and compliance processes that reflect the region’s unique cultural, political and socioeconomic dynamics.
Use this report to:
- Benchmark FMV rates in the Middle East and create a process for determining HCP compensation.
- Establish rate cards for specialists and primary care providers across the region.
- Develop a key opinion leader scoring system.
For more information about Fair-Market Value compensation benchmarks, contact Cassie Demeter at 919-403-6583.