End-to-End HCP Engagement Solution – engagementNOW™

Accurately assessing a life sciences company's business justification or need to engage with an HCP can be challenging. This involves understanding the company’s scientific objectives, adhering to regulatory requirements, balancing budgetary constraints, and applying the appropriate FMV rate to available KOLs. In addition, potential misjudgments when searching for and selecting an HCP can lead to a waste of resources and misaligned collaborations.

By utilizing engagementNOW, life sciences leaders can better identify and document the commercial and scientific purposes for engaging HCP consultants while ensuring overall alignment to strategic objectives. This is facilitated through a systematic and transparent workflow process of tracking and recording HCP engagements and their activities.

Identifying KOLs that align with the company's goals and are willing to provide advisory insights and/or advocate for their products can be challenging due to potential conflicts of interest, biases and market competition. This is a complex task that involves balancing expertise and collaboration, especially when trying to engage in rare disease categories.

By utilizing kolNOW™, a comprehensive database featuring millions of pre-tiered KOLs, life sciences companies can rank and nominate HCPs for specific activities based on their area of expertise and other criteria. Life sciences companies can also use the tool to review and approve the contracts of these KOLs within this centralized hub thereby streamlining part of the multifaceted KOL engagement workflow process.

kolNOW functions both as a standalone tool and seamlessly integrates with the engagementNOW platform, providing a unified hub for planning and engaging with KOLs tailored to specific expertise and business requirements. This offers significant benefits to life sciences companies seeking to choose an HCP that is an expert in a rare disease category.

Securing internal and external approvals from multiple departments and stakeholders can be a time-consuming barrier to collaboration and product launches.

By leveraging engagementNOW, life sciences leaders can be empowered to simplify this multifaceted process with a user-friendly platform, ultimately reducing delays and saving time from initial HCP outreach to approving the required contracts. Numerous key pre-engagement controls such as FMV, tiering and background screening are directly embedded in the platform.

HCP engagements typically involve multiple departments, resulting in a complex coordination effort encompassing initial contact, contract negotiation, and ensuring HCPs complete required trainings among others.

Through the use of engagementNOW, life sciences leaders can improve their interactions with their contracted KOLs, creating a more cohesive and organized process and image for their organization. This includes streamlining the collection of crucial data from KOLs, enabling them to have easy access to their contracts, banking information, training records, and tracking outstanding requirements, ultimately simplifying the entire engagement process.

Ensuring that HCPs are fulfilling their contractual obligations, delivering value and adhering to regulatory requirements can pose significant challenges.

engagementNOW addresses these challenges by providing a structured and systematic approach for tracking contract compliance and fulfillment. By simplifying the otherwise intricate auditing and monitoring process, life sciences leaders can increase transparency that their contracted HCPs are fulfilling their commitments throughout the engagement process.

Managing payments with HCPs can be a complex and time-consuming endeavor, especially with varying regulations on how much KOLs should be compensated based on their level of expertise.

By utilizing fmvNOW™, life sciences leaders gain access to a self-service tool that offers FMV hourly rates for KOLs based on their level of expertise. This enhances the ability to make timely, accurate payments to HCPs, strengthening relationships and collaborations while ensuring compliance.

fmvNOW can be used as a standalone tool or seamlessly integrated with the engagementNOW platform.

Meeting global spend transparency reporting requirements poses multiple challenges for life sciences companies. This entails tight reporting deadlines, intricate data collection, management of third-party relationships and the need to adapt to ever-changing global regulations. This is also frequently perceived as an administrative burden that involves the collection of data from diverse systems and the necessity to adhere to specific reporting formats dictated by the jurisdictions in which life sciences companies operate.

Baker Tilly's transparencyNOW offers a user-friendly solution that simplifies the reporting process and enables more accurate reporting. Although transparencyNOW can be used as a standalone tool, it can also be integrated into the engagementNOW platform, providing a unified hub to engage with HCPs and also meet the necessary reporting requirements, allowing for a true end-to-end HCP engagement solution.