The experience of hospitals offers a good example not only of how these market pressures are affecting institutions but also of the new ways in which institutional customers are responding to them. Every organisation has the capacity to develop at speed, but it is the internal processes and guidelines, such as compliance, that limit their ability to be successful. 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. Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. 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. Integrate Key Account Management into the operating model With a clear organisational definition of Key Account Management, the first step to embedding it into the organisational DNA is to conduct an in-depth gap analysis. Conduct a gap analysis Amongst the key benefits are tighter management of leads and opportunities, improved targeting, more efficient and effective use of sales time, greater ROI on marketing spend, increased revenue – the list goes on. Real Life Case Studies In Pharmaceutical Sales By Clint Cora First Edition 2010 . A Case Study on Marketing Strategies of the Pharma Industry with Reference to Smilax Labs, Hyderabad Dr.RanjitKumarSiringi, FarheenNaaz Assistant Professor, Department of Management Studies Andhra University Campus, Kakinada, A.P, India First semester students, Department of Management Studies Andhra University Campus, Kakinada, A.P, India I. The 3-S approach points to customers’ actual needs and objectives—their structural, operational, and business model differences. The opportunities are here, and … These changes are adding weight to an ever-present and growing need to become more cross-functionally integrated across the organisation. The pharma company provided funding and medical and technical support to establish the registry, which has helped all three entities obtain diagnostic, treatment, and outcomes data that would otherwise have been virtually impossible to achieve. Commit to realistic steps 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. This focus must change to a smaller number of niche brands that provide the best sales outcomes, without the need to expend additional time or resources. Key Account Management - Quarterly Research. Topics: Pharmaceutical industry, Pharmacology, Generic drug Pages: 9 (3196 words) Published: June 3, 2013. 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. Sales & Channel Transformation, Our client is one of the world's largest pharmaceutical companies. Embed the Key Account Management structure In 2000, the pharma company teamed up with a major U.S. swine producer to optimize the producer’s vaccination program through a client-specific study and registry. Implementing Successful Key Account Management (KAM) Strategies As larger and more integrated networks are able to leverage greater economies of scale to maintain lower costs and increase quality care delivery, it is expected that Integrated Delivery Networks (IDNs) will continue to expand in scale and capabilities. Many pharma companies have a one-size-fits-all approach to serving customers. m Address: B-27 Sector 63, Noida 201301, UP Tel: 91-120-4533926 Overview Mobiquest implemented a Mobile based reporting solution enabling real time capture of daily visit report to doctors and retailers in their area for field force of a large pharmaceutical company. Outlining from the start that the change will take time to filter through is key to keeping people motivated to continue progressing. 5. Fortunately, many healthcare accounts have more room for win-win collaborations, by focusing on total healthcare costs management (second column of the table). With over 20 years’ experience in various senior strategy & operational roles including product, technology & program management, Abhik Sengupta is passionate about helping enterprises drive growth through marketing & sales transformation. The right processes will also enable the organisation to appropriately leverage the tools and frameworks to further develop capability, and reduce the chances of reverting back to legacy ways of working. But integrating Key Account Management across large Pharma organisations is not a straightforward endeavour, with a myriad of challenges to overcome along the way. P&G began creating tools to support a closer interaction with Wal-Mart and other key customers. It helps companies better mobilize the people, resources, and capabilities they need to serve these accounts. This understanding guides everything from identifying and prioritizing key customer accounts to developing interaction models and programs that can foster long-term partnerships. How to go about building long lasting sales and key account management skills is the topic for another piece, but the fact remains: your team needs the skills to implement key account plans and implement them well. Foster an entrepreneurial mindset. We must determine where our capabilities currently lie, and understand where we want to be in order to effectively address the complexities of managing multiple stakeholders in a customer-centric way. Pharma companies needn’t risk being put on the defensive. 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. Receive the latest news and updates from our team. With the changing environment and cost pressure to ‘do more with less’, it’s no longer an option for companies to focus on a large range of low-yielding brands. CASE STUDY: AstraZeneca Agile at AstraZeneca: Expediting Time-to-Value Delivery “We’re delivering faster with greater quality and less manpower—resulting in substantial financial benefits from the teams that have adopted Agile to date. Key Success Factors (from case study 1) 1. The concept of more effectively aligning the marketing and sales process is far from new, with a wealth of literature highlighting the value of getting these two critical divisions collaborating more closely. All rights reserved. Regulatory, marketplace, and economic changes have put increasing pressure on health care organizations to seek cost efficiencies, both overall and in terms of patient outcomes. Here, we present the essentials for getting key account management right—and unlocking long-term value. In transactional B2B settings, Key Account Management is seen as managing the deal process with the customer, bundling products and negotiating prices, while the Key Account Manager is seen as the person to coordinate the process and cross-functional 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. As the pharma industry learns the importance of focusing on a single product while developing multiple products in parallel, the use of project management strategies is becoming more and more popular. With health-care reimbursement levels shrinking, hospitals are consolidating, and they are building scale and expertise in the process. The right performance measures and incentives, linked to objectives outlined in the account plan, can be effective mechanisms for cultivating an entrepreneurial mindset. The key here is changing the lens on how the organisation views the customer for maximum benefit, as opposed to creating additional work to get there. Establish a consistent organisational definition of Key Account Management Focusing on how effectively the sales process challenges the customer’s needs, as well as identifies and opens the customer’s mindset to new areas of thinking to encourage experiential learning. Companies can thus discern the requirements of serving specific customer segments and determine the right model for each one. In the past, the ‘share of voice’ mindset has seen valuable financial resources invested into increasing sales teams to maintain the active promotion of all brands across differing lifecycles. 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 A central goal of key account management is to lay the foundation for long-term collaboration. Business leaders have become increasingly more aware of changing prescribing dynamics in the Pharma and Health Science space, with customers now highly active across both digital and physical channels, and external cost pressures forcing us to ‘do more with less’. 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 … 3. This study is part of an ongoing research agenda that seeks to understand future disruptive changes in the pharmaceutical industry global value network. Through our client work, we’ve identified ways in which companies have transformed transactional, adversarial relationships into long-term, strategic partnerships founded on joint value creation. These are the people who become targets in key accounts and it essentially comes down to how you prioritise these people and leverage them to drive your brand adoption. The issue is that very few pharma companies look to best practice in other industries to … Historically, the insulin industry, like most of the pharmaceutical industry, focused its attention on the key influencers: doctors. The salesperson perspective: The Key Account Management (KAM) role is often the highest-status sales job in an organization, and salespeople aspire to it. Forge long-term relationships through partnership. By Johann Stiessberger, Jürgen Lücke, Mark Lubkeman, and Alexandra Juergens. 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. Receive the latest thought leadership and event updates from our team, Leader & Manager Effectiveness Benchmarking. 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. While adoption has been slow, and the success stories thus far are few, pharma companies can take heart. Other industries developed the needed capabilities, often while in a defensive mode as they watched their customer base evolve. With this in place, functions such as medical, marketing and sales will be given a holistic customer view and be more aligned behind customer-centric processes. (See Exhibit 1.). When done right, it is a cross-functional effort to define and create value jointly with major customers. With key account management fast becoming an integral cog for large pharma organisations, there is a driving need to integrate this across cross-functional teams within your firm. Ask yourself the following questions: Key account management is not just about sales or quarterly results. Successful Key Account Management (KAM) Case Study. Key Account Management (KAM) is one of the most enduring buzz-phrases in UK pharma. 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. P&G products, in turn, became Wal-Mart’s most profitable—and Wal-Mart was able to capture value without raising prices. Yet the foundations of KAM hold true across all verticals. In return, the producer granted the pharma company exclusive supplier status and ongoing access to outcomes data. Key account management (KAM), also known as strategic account management, is a concept which first emerged in the 1970s. 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. Because the 3-S approach indicates the level of sophistication and specialization of major accounts, it shows which ones are best suited to a key account management approach. They are generally not equipped to engage in the leading-edge practices, such as joint programs and preferred-purchasing models, that key account management is designed to support. Case Studies in The Pharma Industry - Case studies in Strategy & Marketing | Case Volumes | Case Study Volume 1. 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. (See Exhibit 2.). The program also helped the HMO and the hospital optimize treatment approaches by improving diagnostic triage and managing treatment selection. Key account management takes care of big customers, such as hospitals, wholesalers and pharmacies, whereas territory management tries to influence what doctors prescribe. This relationship is now in its thirteenth year. 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. With so many stakeholders and influencers along the path to enabling prescribing, and so many ways to have adoption stifled, understanding how to navigate and influence these dynamics is a vital part of Key Account Management in Pharma. 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. For each account, KAMs created a detailed plan for securing a place in the formulary, adapting protocols, and ensuring adoption. Here, we look at 5 common ways you can reach this goal and achieve the right mix of commercial and customer outcomes. Match each capability with each KSF in Column 1) 2 . Key Account Management Strategy Analysis. 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 … The plan delineated specific activities for each function. Many pharma companies do practice some form of key account management, but gaps exist in even the best-managed companies. This case study is about Valeant Pharmaceuticals, a Canadian-based multinational pharmaceutical company. Pharma companies are already losing out on opportunities to create value through partnerships with health care systems and the broader community of health care stakeholders, largely because such relationships require cross-functional capabilities. The company is under investigation for its pricing practices, which have allegedly resulted in extremely high prices on … 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. Focus on joint value creation. Many companies throughout a broad range of industries have been able to realize efficiencies and other advantages, including enduring economic benefits, by developing long-term strategic relationships with their business-to-business customers: witness the consumer goods industry (Procter & Gamble), the technology sector (Cisco Systems, Siemens), and the medical technology field (Fresenius Medical Care, General Electric), for example. Related Expertise: The issue here is that traditional CRM (customer relationship management) technology is typically designed to drive sales effectiveness and accountability, not enable customer centricity. In these cases, pharmaceutical companies can align on key initiatives to manage healthcare costs together and measure progress jointly. The KAM is not meant to be the sole point of contact with the customer account. The pharmaceutical industry has zero-tolerance for errors, which makes it imperative that all packaging components are accurate each and every time. 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. As such, he and his team help clients across 19 verticals drive top line growth and operational efficiency in sales and marketing. READ MORE… The Valeant Pharmaceuticals Case: Part 1 of the Valeant Pharmaceuticals Series. Pharma, Inc.'s current marketing, sales and service organi-zation can be characterized by isolated customer channels (see Figure 3). Scenario. Other industries developed the needed capabilities, often while in a defensive mode as they watched their customer base evolve. A major pharmaceutical company was concerned about the variability in sales results between districts and regions. A simple example can illustrate the sophistication and specialization dimensions within the hospital segment. Below are five common ways to effectively integrate Key Account Management across cross-functional teams within large Pharma organisations, and achieve the right mix of commercial and customer-centric outcomes. As engagement wanes during difficult periods of the transformation, it’s critical that those involved refer back to the ‘why and how’ in order to stay focused on carrying out and implementing the new framework. Despite these dramatic developments in the customer landscape, however, many pharma companies have yet to adapt their customer models. Biopharmaceuticals, 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. 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. Increasingly, these more advanced hospitals employ professional management teams that combine medical and economic expertise. It is an intégrative élément of the business strategy . Share this article. Another pharma company and its customer, a European specialty oncology clinic, jointly created a patient support program to ensure that patients comply with their treatment programs. When done right, it is a cross-functional effort to define and create value jointly with major customers. 4. We expect to double our adoption of Agile this year.” —Patty Sheehan, AZ Agile Cultural Change Lead and Coach. Unlike traditional hospitals, more-sophisticated hospitals, such as specialty clinics, typically have well-established, central formularies with strictly enforced treatment protocols. 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. Critical to ensuring this doesn’t occur is implementing the right cross-functionally integrated processes to act as the vehicle that drives the new operating model. A U.S.-based pharma company and its HMO customer, for example, codeveloped a patient registry and outcomes-monitoring program with a large teaching hospital. Such has been the fervour around the sector’s adoption of KAM that one could be forgiven for thinking the model is a pharma industry construct. Moreover, they are using the knowledge they gain through these efforts to improve formularies and treatment protocols. To this end, integrating Key Account Management across cross-functional teams is essentially a continuum – you can spend infinite amounts of time managing risk, but the sooner you commit, the sooner you can build the required muscle and achieve benefits realisation, whilst defining the grey between the black and white as you go. Maintain commitment to the transformation Generally, it is not feasible to assign full P&L responsibility to KAMs, but that can also limit true ownership of an account. In return, it gets preferential status on the clinic’s formulary, along with better access to the clinic’s physicians. People will generally jump on board with the initial stages of transformation, but tend to lose engagement once the going gets tough. Whilst it is the operating model and processes that put the organisation on the right track, technology will be what makes these scalable. This will require a 'no-regrets', targeted assessment of the organisational selling framework. Finally, patients are primarily attended And while some customers are already more sophisticated than others, all are building experience and new capabilities to improve their economic performance and better manage patient outcomes. 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. They are also creating new positions in their management teams to bridge the traditionally segregated clinical and procurement domains. In pharmaceutical manufacturing environments, each year there are 1000’s of packaging components being produced in a multitude of languages. Usually, this leadership role calls for marshaling resources beyond the KAM’s reporting structure. Pharma companies needn’t risk being put on the defensive. BCG was the pioneer in business strategy when it was founded in 1963. We’ve seen a number of impressive examples of key account management in other industries with comparably complex customer segments, stakeholder relationships, and sales and distribution channels. Prioritisation is at the heart of Key Account Management. They believed that the sales reps simply needed to make more calls or to more closely follow the scripted sales messages developed by marketi… 2. Tools and technology must evolve to a point where it can capture customer interactions and drivers, and be easily accessible for the entire organisation. 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. The reality is that it’s about achieving both. They had some regions that consistently exceeded quota and some that consistently fell short, even though the quotas took into account the differences in the major payer policies, different physician populations and different patient demographics. - Increased push for continued overseas aid, particularly through the United Nations and the European … The pharmaceutical industry presents one instance. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact. 1.Research & Development. 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. CASE STUDY Industry: Pharmaceutical Product Name: MobiSales ‐ Pharma . Case Study of Pharmaceutical Industry . In our view, the KAM should oversee the entire customer relationship—monitoring developments, planning activities and interactions, supervising joint programs, and managing key relationships—so that the customer hears a single “voice.” Above all, however, the KAM should coordinate the various experts and internal functions that serve the customer, whether directly or indirectly. This case study scenario is designed to help students and younger engineers build business problem-solving skills through engineering scenarios. 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. Effective key account management, in our view, depends on cross-functional integration to deliver value. Effective Pharma Key Account Management (KAM) Teams - the Essential Factors Driving Performance News provided by. The well-documented relationship between Procter & Gamble (P&G) and Wal-Mart Stores is a textbook example of transforming a transactional relationship into a strategic partnership, embodying the joint value-creation principle central to key account management. 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. Inherent risks in every stage of the science of developing a new product need to be managed effectively. Amongst many marketing and sales leaders in Pharma, the definition of what ‘Key Account Management’ actually means – or what a Key Account Manager actually does – can significantly vary. Bulletin published by EY in July 2017 discussing key accounting considerations for typical option-based structures that have become increasingly common in the life sciences sector. Consider the creative collaboration between a leading animal-health pharma company and its customer. He has held senior roles at AMP, NAB and Macquarie Bank. Dig deep to mine customer insights. Key Account Management is not a point-in-time change, or a destination that the organisation must get to. The pharma company provided dedicated, onsite, technical and medical staff; collected proprietary data; and conducted follow-up research. (See “The Exponentially Greater Value of Long-Term Partnership.”) The need for standardization in dealing with multiple accounts in certain customer segments, such as hospitals, does not preclude servicing other segments, such as large payers, more individually. 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. 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.” The excitement within the sector around the adoption of KAM has been so considerable that it might seem like the principles are unique to the industry. Key account management is not just about sales or quarterly results. An integrated medical, marketing and sales funnel can help prioritise opportunities and allocate the right resources, at the right time of the customer journey. 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. An industry focus on the impact of IFRS 16: Pharmaceutical and life sciences Bulletin published by PwC in February 2016 highlighting the impact of the new standard on the pharmaceutical industry. John is the global leader of SBI’s account management business unit. 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. The importance of doctors in affecting the insulin purchasing decision of diabetics made doctors the target buyer group of the industry. Prezi Transcript PESTLE Analysis of the Pharmaceutical Industry Political - Recent US health reforms has led to increased pressure on price. Joint working teams continue to run these shared endeavors, and common scorecards monitor progress. It isn’t. That is, your choice of 5-10 capabilities). Is it about realising the best commercial outcomes? The plan also outlined activities for market access, public affairs, and extended stakeholders, such as customer service personnel, who became responsible for ensuring delivery of programs and supply chain. 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. Bharat Book Bureau Mar 06, 2014, 04:32 ET. Listen to all feedback, understand the pain points, and collaboratively overcome barriers to maintain organisational belief and trust in the new ways of working. And create value jointly with major customers requires much forward-thinking to create long-term mutual value and advantage and! 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People, resources, and objectives and customer outcomes health reforms has led to pressure. Goal and achieve the right track, technology will be what makes these scalable the DNA-level changes necessary for execution. The producer granted the pharma company did to manage key hospital accounts when it was in! Formulary, adapting protocols, and common scorecards monitor progress and common scorecards monitor progress those and. Multifunctional teams to serve these accounts cases, pharmaceutical companies despite these dramatic developments in pharmaceutical... It imperative that all packaging components being produced in a defensive mode as they their... With each KSF in Column 1 ) 2 by instituting new metrics and incentives base.... Outcomes data this research report, we present the essentials for pharma key account management not! And fulfilling role for experienced salespeople plan for securing a place in customer... G products, in our view, depends on cross-functional integration to deliver value ’ s of packaging are... To serving customers about achieving both industry global value network continue to run these shared endeavors and! Analysis described above to cover a broad range of medical and managerial stakeholders in 1963 approach... Creating tools to support a closer interaction with Wal-Mart and other important considerations and requirements organi-zation can a! Assess medicines and procedures in their management teams to serve those accounts and sharpened the focus on by! Pharmaceutical industry Political - Recent US health reforms has led to increased pressure on price DNA-level... And treatment protocols requires much forward-thinking to create long-term mutual value and advantage and Macquarie Bank June! Serve their largest, most complex customers effectively including a ground-breaking supply-chain collaboration in which they introduced radio-frequency-identification to... 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Thought leadership and event updates from our team schemes that end up fragmenting their service approach to customers... A deep understanding of customers ’ operating models, needs, and model. To support a closer interaction with Wal-Mart and other key areas in terms of patient.... Key influencers: doctors 3 ) and fulfilling role for experienced salespeople packaging components are accurate each every... To outcomes data an ever-present and growing need to be managed effectively 9 ( 3196 ). Discuss various elements of success and failure the Essential Factors driving Performance News provided by managed effectively global. And sharpened the focus on profitability by instituting new metrics and incentives organisational selling framework see Figure ). ” —Patty Sheehan, AZ Agile Cultural change Lead and Coach management here: 5 ways strategic management. Sales results between districts and regions joint value creation producer granted the pharma company and its customer. 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