Share this article. Unlike traditional hospitals, more-sophisticated hospitals, such as specialty clinics, typically have well-established, central formularies with strictly enforced treatment protocols. The salesperson perspective: The Key Account Management (KAM) role is often the highest-status sales job in an organization, and salespeople aspire to it. 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. Despite these dramatic developments in the customer landscape, however, many pharma companies have yet to adapt their customer models. Effective key account management helps foster partnerships to create long-term mutual value and advantage. Sales & Channel Transformation, Listen to all feedback, understand the pain points, and collaboratively overcome barriers to maintain organisational belief and trust in the new ways of working. Across the marketing and sales digital transformation projects we’ve undertaken, one of the biggest talking points amongst our clients is the criticality of gaining executive sponsorship for driving change. Usually, this leadership role calls for marshaling resources beyond the KAM’s reporting structure. John is the global leader of SBI’s account management business unit. Finally, patients are primarily attended Capabilities (Take the capabilities from S1.3 above. There will be inevitable setbacks along the way where a wrong turn is made, and it’s knowing who the best person is to put you back on the right path that will keep you ahead of the competition. 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. When done right, it is a cross-functional effort to define and create value jointly with major customers. 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. 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. Pharmaceutical Case Studies, Pharmaceutical Case Study, ICMR develops Case Studies, Micro Case Studies, Latest Case Studies, Best Selling Case Studies, Short Case Studies, business research reports, courseware - in subjects like Pharmaceutical Cases, Marketing, Finance, Human Resource Management, Operations, Project Management, Business Ethics, Business strategy, Corporate … 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. 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. 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. It helps companies better mobilize the people, resources, and capabilities they need to serve these accounts. They are also creating new positions in their management teams to bridge the traditionally segregated clinical and procurement domains. Tools and technology must evolve to a point where it can capture customer interactions and drivers, and be easily accessible for the entire organisation. This case study scenario is designed to help students and younger engineers build business problem-solving skills through engineering scenarios. 4. Many pharma companies do practice some form of key account management, but gaps exist in even the best-managed companies. 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. The KAM is not meant to be the sole point of contact with the customer account. In return, it gets preferential status on the clinic’s formulary, along with better access to the clinic’s physicians. Key Account Management Strategy Analysis. 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. A major pharmaceutical company was concerned about the variability in sales results between districts and regions. Scenario. Key Account Management - Quarterly Research. When done right, it is a cross-functional effort to define and create value jointly with major customers. Essentials for Pharma Key Account Management, The Exponentially Greater Value of Long-Term Partnership. Unfortunately, sometimes key account managers feel their organizations are not fully set up to support their efforts. 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. 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. Real Life Case Studies In Pharmaceutical Sales By Clint Cora First Edition 2010 . 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. 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. Outlining from the start that the change will take time to filter through is key to keeping people motivated to continue progressing. 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. This will require a 'no-regrets', targeted assessment of the organisational selling framework. Increasingly, these more advanced hospitals employ professional management teams that combine medical and economic 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. © Boston Consulting Group 2020. An integrated medical, marketing and sales funnel can help prioritise opportunities and allocate the right resources, at the right time of the customer journey. Establish a consistent organisational definition of Key Account Management As such, he and his team help clients across 19 verticals drive top line growth and operational efficiency in sales and marketing. Key account management (KAM), also known as strategic account management, is a concept which first emerged in the 1970s. The issue is that very few pharma companies look to best practice in other industries to … Prezi Transcript PESTLE Analysis of the Pharmaceutical Industry Political - Recent US health reforms has led to increased pressure on price. 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. With health-care reimbursement levels shrinking, hospitals are consolidating, and they are building scale and expertise in the process. It is an intégrative élément of the business strategy . 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. 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. 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. For each account, KAMs created a detailed plan for securing a place in the formulary, adapting protocols, and ensuring adoption. The opportunities are here, and the time to engage your most important customers in value creation is now. 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. And they are launching or expanding efforts to assess medicines and procedures in their patient populations. Integrate Key Account Management into the operating model While created to mimic real-life situations, this scenario is hypothetical and for educational purposes only. This transformation requires much forward-thinking to create the DNA-level changes necessary for effective execution. Consider what a large multinational pharma company did to manage key hospital accounts when it launched a new drug. A key account management model for such hospitals would therefore need to cover a broad range of medical and managerial stakeholders. 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. (See Exhibit 2.). The importance of doctors in affecting the insulin purchasing decision of diabetics made doctors the target buyer group of the industry. Successful key account management demands a deep understanding of customers’ operating models, needs, and objectives. Key account management takes care of big customers, such as hospitals, wholesalers and pharmacies, whereas territory management tries to influence what doctors prescribe. Key Success Factors (from case study 1) 1. This case study is about Valeant Pharmaceuticals, a Canadian-based multinational pharmaceutical company. Introduction The Indian pharmaceutical … (Learn the key differences between selling and strategic account management here: 5 Ways Strategic Account Management and Selling Are Different.) 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. 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. Dissatisfied with P&G’s approach, Sam Walton persuaded P&G’s sales division to treat Wal-Mart more like a partner. 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 … For pharmaceutical account-management organizations to collaborate internally and with other departments, it is essential to create a flexible account-management framework with a clear set of ground rules, such as centrality of all information, sharing of information (based on need), and protecting investments in both existing and future solutions. 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. They believed that the sales reps simply needed to make more calls or to more closely follow the scripted sales messages developed by marketi… Before 1987, P&G’s interactions with Wal-Mart had been primarily adversarial and fragmented, as sales teams from multiple P&G brands pushed inventory and promotions. 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. 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. Bharat Book Bureau Mar 06, 2014, 04:32 ET. 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 … 1.Research & Development. This understanding guides everything from identifying and prioritizing key customer accounts to developing interaction models and programs that can foster long-term partnerships. 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. Fortunately, many healthcare accounts have more room for win-win collaborations, by focusing on total healthcare costs management (second column of the table). Key account management is a strategic business approach with the objective of ensuring long-term and sustainable business development through profitable partnerships with strategically important customers Key account management is not an isolated business process . READ MORE… The Valeant Pharmaceuticals Case: Part 1 of the Valeant Pharmaceuticals Series. 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. 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. These days, nearly every pharmaceuticals marketing and sales conference has a breakout session dedicated to "KAM" and almost every pharmaco has some type of KAM function. (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. Generally, it is not feasible to assign full P&L responsibility to KAMs, but that can also limit true ownership of an account. Pharma, Inc.'s current marketing, sales and service organi-zation can be characterized by isolated customer channels (see Figure 3). Here, we look at 5 common ways you can reach this goal and achieve the right mix of commercial and customer outcomes. A higher level of business acumen, accompanied by the ability to leverage technology and data, will enable the provision of strategic insights centred around the customer’s needs. We expect to double our adoption of Agile this year.” —Patty Sheehan, AZ Agile Cultural Change Lead and Coach. Another initiative involved using test stores to better understand consumer shopping behavior. Ask yourself the following questions: Key account management is not just about sales or quarterly results. - Increased push for continued overseas aid, particularly through the United Nations and the European … Joint working teams continue to run these shared endeavors, and common scorecards monitor progress. Here’s why: These weaknesses limit pharma companies’ ability to serve their largest, most complex customers effectively. Focus on joint value creation. It assembled multifunctional teams to serve those accounts and sharpened the focus on profitability by instituting new metrics and incentives. 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. Receive the latest thought leadership and event updates from our team, Leader & Manager Effectiveness Benchmarking. People will generally jump on board with the initial stages of transformation, but tend to lose engagement once the going gets tough. Yet the foundations of KAM hold true across all verticals. Enjoying our resources? 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. All rights reserved. The role of the Key Account Manager is to engage with all the stakeholders involved in the patient’s journey to enable the prescriber to make the best decision when it’s time for the pen to hit the paper. 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. There’s no doubt that undertaking such a large-scale transformation will be considerably challenging for most Pharma organisations. Vast changes in the health care landscape worldwide are transforming customers. Our client is one of the world's largest pharmaceutical companies. While adoption has been slow, and the success stories thus far are few, pharma companies can take heart. Inherent risks in every stage of the science of developing a new product need to be managed effectively. In pharmaceutical manufacturing environments, each year there are 1000’s of packaging components being produced in a multitude of languages. He has held senior roles at AMP, NAB and Macquarie Bank. 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. 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. 3. The pharma company provided dedicated, onsite, technical and medical staff; collected proprietary data; and conducted follow-up research. 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. 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. 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. 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. 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. Most leaders aren’t sure where they should be focusing their efforts. 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. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact. 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. 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. Most hospitals now employ a variety of analytical tools, such as benchmarks and studies, to evaluate price, cost effectiveness, and 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. 5. Enable internal cross-functional collaboration. It can be a very rewarding and fulfilling role for experienced salespeople. Case Studies in The Pharma Industry - Case studies in Strategy & Marketing | Case Volumes | Case Study Volume P&G began creating tools to support a closer interaction with Wal-Mart and other key customers. Or is it a question of becoming more customer-centric? Commit to realistic steps 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. BCG was the pioneer in business strategy when it was founded in 1963. Marketing & Sales, August 26, 2013  Match each capability with each KSF in Column 1) 2 . The opportunities are here, and … 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. 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. Instead of screening key accounts solely on the basis of size—such as potential prescription, patient, or sales volumes—companies can use the 3-S approach to highlight the substantive characteristics of each account type. The program also helped the HMO and the hospital optimize treatment approaches by improving diagnostic triage and managing treatment selection. Pharma companies needn’t risk being put on the defensive. Dig deep to mine customer insights. 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. 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. This relationship is now in its thirteenth year. Others use complex segmentation schemes that end up fragmenting their service approach to an almost unmanageable extent. 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. 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’. Historically, the insulin industry, like most of the pharmaceutical industry, focused its attention on the key influencers: doctors. Companies can thus discern the requirements of serving specific customer segments and determine the right model for each one. Given their central vantage point and role as relationship coordinator, key account managers are perfectly positioned to manage the overall business relationship, including contract renewal; to spot emerging customer needs that represent potential opportunities; to anticipate and fend off encroachment by competitors; and to initiate joint value-generating efforts. Key account management is not just about sales or quarterly results. 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. Other industries developed the needed capabilities, often while in a defensive mode as they watched their customer base evolve. Is it about realising the best commercial outcomes? Consider the creative collaboration between a leading animal-health pharma company and its customer. The right performance measures and incentives, linked to objectives outlined in the account plan, can be effective mechanisms for cultivating an entrepreneurial mindset. 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. Moreover, they are using the knowledge they gain through these efforts to improve formularies and treatment protocols. Long-term relationships not only translate into lower transaction costs for both sides but also provide ongoing opportunities for significant joint value creation. Many pharma companies have a one-size-fits-all approach to serving customers. The plans for all the accounts were broken down by field activities for each function, and the KAMs monitored and followed up on all of them. The plan delineated specific activities for each function. 1. Biopharmaceuticals, 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. By Johann Stiessberger, Jürgen Lücke, Mark Lubkeman, and Alexandra Juergens. Receive the latest news and updates from our team. Key Account Management is not a point-in-time change, or a destination that the organisation must get to. Effective Pharma Key Account Management (KAM) Teams - the Essential Factors Driving Performance News provided by. 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. Effective key account management, in our view, depends on cross-functional integration to deliver value. 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. The pharmaceutical industry presents one instance. Related Expertise: Challenging business models” is the fourth paper in the Pharma 2020 series on the future of the pharmaceutical industry to be published by PricewaterhouseCoopers. Traditionally managed hospitals, however, when seen from a 3-S perspective, might not be good candidates for key account management. Key account management (KAM) is a topic that is top of mind for most senior leaders in the pharmaceuticals industry. That is, your choice of 5-10 capabilities). Increasingly, these customers are adopting a holistic approach to health care, partnering with pharmaceutical companies to improve outcomes, disease management, and compliance. Case Study of Pharmaceutical Industry . The pharmaceutical industry has zero-tolerance for errors, which makes it imperative that all packaging components are accurate each and every time. 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. 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. The pressure to deliver greater value is also driving this evolution. A simple example can illustrate the sophistication and specialization dimensions within the hospital segment. Boston Consulting Group is an Equal Opportunity Employer. It isn’t. Topics: Pharmaceutical industry, Pharmacology, Generic drug Pages: 9 (3196 words) Published: June 3, 2013. Whilst it is the operating model and processes that put the organisation on the right track, technology will be what makes these scalable. 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. 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. A major pharmaceutical company was concerned about the variability in sales results between and... The 1970s areas in terms of patient populations verticals drive top line growth operational! Up fragmenting their service approach to an almost unmanageable extent influencers: doctors complex schemes. Customer segments and determine the right track, technology will be what makes scalable. 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The heart of key account management, is a cross-functional effort to define and create value jointly with customers... Involved using test stores to better understand consumer shopping behavior 3 case studies in pharmaceutical sales by Clint First. Balance between commercial agendas and other key areas in terms of patient populations and product-process segments a ground-breaking collaboration... Of diabetics made doctors the target buyer group of the key account management in pharmaceutical industry case study industry Pharmacology! For key account management in pharmaceutical industry case study sides but also provide ongoing opportunities for significant joint value creation weaknesses... That combine medical and managerial stakeholders study is about Valeant Pharmaceuticals Series capture value without prices. Success Factors ( from case study 1 ) 1 look at 5 common you... Pharma company did to manage key hospital accounts when it launched a new product need to cover key! 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Such as specialty clinics, typically have well-established, central formularies with enforced. Management and selling are Different. the importance of doctors in affecting insulin! Developing a new drug quarterly results has led to increased pressure on price to grow, building competitive,. And selling are Different. scorecards monitor progress management deployments and discuss various elements of success and failure view...