The Global MedTech Compliance Conference (GMTCC) 2016 was held from 24th to 26th May 2016 in Dublin. The event covered trends, present perspectives and upcoming changes in compliance across the globe.
Guido Palazzo, Professor of Business Ethics at University of Lausanne, shared the latest research in psychology and sociology on how to better protect organizations and individuals against rule breaking.
The reinforcement of compliance and transparency regulations and public scrutiny raise the level of pressure in the life sciences industry.
The objective of this reinforcement is to fortify trust and respect. Healthcare companies must adopt a new behavior: more transparent relations with their audience (HCPs, HCOs, patients, public opinion, media…) with one aim: to better drive patient care.
Best practices to improve compliance:
- Realistic targets
- Collective incentive
- Mild language
- Clear message
- Constructive performance evaluation
Manage Fair Market Value
What is the perspective of HCPs/HCOs on FMV?
HCPs are generally enthusiastic to work with the healthcare industry and 90% of them aren’t aware that there is a FMV. Most HCPs are not familiar with the legal aspect of their agreements.
How to better inform HCPs?
There is no official and collective message from the industry about agreement details and FMV.
Most HCPs still don’t know all this data is collected in systems, processed, analyzed and published.
What are the best practices to calculate FMV?
1/ Needs assessment: specialty of the HCP, relevancy of the HCP selection.
2/ Hours needed: preparation time + service time + travel time.
3/ Seniority of the HCP: Experience / qualification / publications.
The same rate can be applied to various types of service.
Communications on how FMV is calculated is important to maintain a good relationship with HCPs and avoid conflicts.
For more information on FMV, please contact us: