Overcoming The Top 3 Challenges Of Managing Advisory Boards

Pharmaceutical companies have long used advisory boards to gain commercial and medical insights about products either in development or already on the market.  An advisory board is “a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation”. For pharmaceutical meetings it can be a meeting that comprises an appropriate number of selected medical advisors who provide the company with relevant advice. Importantly it is run for the benefit of the company, not the attendees.

Here at McCullough Moore we have successfully managed and run a number of advisory board meetings for pharmaceutical clients globally and can help you to deliver your advisory board with optimum results.

Faculty Management

One of the challenges that can surround advisory boards is to manage the faculty. Our clients come to us as they want a seamless meeting delivery and they want to manage the content aspect of the meeting and leave the logistical details to us.

We know that HCPs can sometimes be demanding. We use a travel agent to organise all flights and know responsible ground agents all over the world that can help in facilitating a smooth arrival of sometimes flustered HCPs. Not to mention we always offer alternative suggestions of dilemma’s that may arise.

Compliance

A key part of pharmaceutical advisory board meetings is compliance. Depending on where faculty come from determines the amount that can be spent on the HCP for food & beverage, accommodation and travel, as well as honorarium payments. We work alongside legal teams within global corporations to ensure compliance at all levels from contracting to the welcome dinner.

Reporting

It is our business to know the reporting required on global meetings and to ensure that HCP interactions are ethical and transparent. Reporting of a meeting is the final part to the delivery for the client. Pharmaceutical events have to be compliant and the reporting is done to ensure that all limits are adhered to. These include contract management, speaker payments, and transfer of value (TOV) after the meeting. It is our responsibility that we collect and report on the data for compliance and spending purposes. We know how important it is for meeting planners to be diligent and we stay aware of the information coming out of the various authorities, such as PhRMA and codes of conduct so that we can offer the best possible service to our clients.

If you need help arranging your pharmaceutical event, please give us a ring and book in a chat.

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