• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Building an Effective Sales Force to Influence Formulary Decision-Makers in the U.S. Hospital Marketplace

Posted on: Tuesday, 17 July 2007, 15:03 CDT

CHAPEL HILL, N.C., July 17 /PRNewswire/ -- The U.S. hospital marketplace is characterized by a range of customer types that influence formulary decisions. While health care professionals continue to rank as having the most influence on formulary decisions, best-in-class companies see hospital network administrators as an ever-growing force. Consequently, pharma and biotech companies are designing and providing more specialized training to help their hospital sales forces navigate the decision-making structures of hospital networks, according to recent research from pharmaceutical benchmarking leader Best Practices, LLC.

The study, Sales Force Effectiveness: Benchmarking the Resources and Structure Required to Service the U.S. Hospital Marketplace, found that 80 percent of companies focus additional sales force training on hospital Integrated Delivery Networks. The research, which provides strategic insight into the optimal sales strategy, structure and resources for the influential hospital market, is available online with a complimentary study excerpt at http://www3.best-in-class.com/rr832.htm .

Key hospital market segments addressed in the research include: Community Hospitals, Regional IDN/IDS, Multi-State IDN/IDS, Academic Medical Centers and VA Hospitals. Among the companies that participated in the study and shared their hospital sales force strategies were: Bayer, Eli Lilly, AstraZeneca, Novartis, GlaxoSmithKline, Johnson & Johnson and Schering-Plough.

Sample findings from the study include: -- Benchmark companies limit the number of target accounts to 10 per account manager to achieve more focus and customer intimacy. -- All study participants recognize the importance of fellows and residents as future influencers and target these positions at some level. -- A focus on a company's products across brands and therapeutic areas is the dominant alignment for sales forces across hospital market segments. The key study focus areas are: -- Targeting Key Decision Makers/Influencers in Making Formulary Decisions -- Hospital Sales Force Alignment, Structure and Support -- Hospital Sales Force Staffing and Training -- GPO Targeting and Sales Force Size

To learn more about this report including information about the research participants, key findings and sample best practices, please download a complimentary excerpt and study overview at http://www3.best-in-class.com/rr832.htm .

For questions or additional information on Best Practices, LLC's other products and services, please call Cameron Tew at 919-767-9246 or email ctew@best-in-class.com. Also, visit our Web site at http://www.best-in-class.com/ .

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. For more information, call 919-403-0251 or visit http://www3.best-in-class.com/.

Best Practices, LLC

CONTACT: Kimberly Hardin of Best Practices, LLC, +1-919-767-9221,khardin@best-in-class.com

Web site: http://www.best-in-class.com/http://www3.best-in-class.com/http://www3.best-in-class.com/rr832.htm

Source: PRNewswire

More News in this Category