Full Disclosure of Payments to Physicians Might Soon be a Reality

According to this article in Courant.com lawmakers are considering legislation that will require health care providers to disclose any gifts or payments that are made to providers that exceed $1,000. There is a national debate on this topic and many advocates claim that gifts, no matter how small, can influence a doctor to prescribe more costly drugs instead of generics. Dr. Stephen R. Smith, a New London physician, mentions, "Patients need to know that their doctors are writing prescriptions based on the best scientific evidence and in the patient's best interests, and not because of pressure from drug companies."

Do you think that recognition of a financial relationship between health care providers and physicians are necessary?

If you're interested in networking with other professionals who market to physicians, join us in these groups:
Join MDRX on LinkedIn: http://www.linkedin.com/groups?gid=1811679
Follow MDRX on Twitter: http://twitter.com/mktg2docs

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Should Pharma readjust its marketing dollars?

A recent article at Fierce Biopharma looks at a report issued by the IMS that states even though Pharma has taken major steps and eliminated many of their sales reps, a lot still needs to be changed when it comes to Pharma marketing. The recent analysis stated that there needs to be $15 billion overhaul in promotional spending. New focuses for the drug marketing should be placed on drug-budget plans and how to be more cost effective when it comes to marketing. Read the full article here.

How can you re-adjust to be more cost effective when marketing to doctors? The MDRx: Physician Relationship Management Conference will help you navagate some of the new paths Pharma companies are taking:

· Gain insight into how physicians are trained, work and think to improve sales teams interactions
· Work in executive-led think tanks to develop key physician relationship strategies
· Improve satisfaction with your brand by optimizing your physician channel mix
· Better understand and responsibly adapt to the changing regulatory landscape
· Create customized education initiatives tailored to today’s physician
· Engage effectively and compliantly in social media initiatives

If you're interested in networking with other professionals who market to physicians, join us in these groups:
Join MDRX on LinkedIn: http://www.linkedin.com/groups?gid=1811679
Follow MDRX on Twitter: http://twitter.com/mktg2docs

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Finding a new way to reach physicians

In a recent article at DMNews, they look at how the cutback in Pharma sales reps has resulted in many companies marketing to physicians turning to the digital realm. Typically, companies spend 5-10% of their budget digitally, but since the number of sales reps has decreased, this is expected to increase. Companies are also making an effor to focus on how physicians are consuming this new form of media and figuring out how they can constantly feed information to these physicians. It is estimated that 60% of all physicians are a part of some type of social network for physicians.

Jamie Peck, managing partner at Princ­eton-based Rosetta, had this to say about the changing marketing landscape:
“There hasn't been a seismic shift yet in pharmaceutical companies' marketing tactics to physicians, but it's approaching seismic,” he continued. “Every major pharmaceutical company is actively working on innovative ways to reach physicians on the Internet and other channels as sales reps have increas­ingly less access to doctors' offices.”

To network with other professionals in the MDRx: Physician Relationship Management field, join our LinkedIn group.

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A look at MDRx

MDRx is not just another sales force effectiveness conference. This all new event brings together sales and marketing executives in the pharmaceutical industry to tackle new challenges with reaching physicians and share lessons learned for optimizing online & offline initiatives.

With all the M&A activity and workforce reductions lately, there is no doubt that now is the time to revamp and rework your marketing and sales strategy to adapt to these changes. Failure to do so would result in loss of market share, and would cost countless dollars. Invest in your future at an event where you can brainstorm new possibilities and walk away with the knowledge to take action immediately.

Find out more about the event here.
To network with other professionals in the group, join our LinkedIn group.

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MDRx Website up!

The MDRx: Physician Relationship Management page has just launched! Take a minute to check it out!

http://www.iirusa.com/mdrx/welcome.xml

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Word of mouth marketing and Pharma

In a recent article at CNN, they explain the findings of marketers who set out to find out how word of mouth marketing travels for prescription drugs. It's anyone's dream for their product to pick up a buzz that travels and promotes a product. This particular study, done by marketing professors at University of Pennsylvania's business school set out ot find out who the "connectors," or those spreading the news about the new drug throughout social circles, for particular drugs. They started by finding physicians and what social networks they were a part of. In this particular study, they found that the proponent was a doctor with lots of connections that bridged two networks. He was well respected, but not outspoken.

The study found that so-called "sociometric" leaders like Physician 184 had more of an influence on word-of-mouth buzz than the self-reported opinion leaders, perhaps because the latter group tend to be less involved with their peers.

Read the complete story here.

We'd like to hear your thoughts on physician and Pharma marketing throughout Pharma on our Future of BioPharma LinkedIn group and MDRx LinkedIn group. Join us today!

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Sam's Club Packages Electronic Medical Records Software

This article in Reuters discusses how Wal-mart's Sam's Club stores will begin selling packages including software and Dell computers directly to doctors for electronic medical records. Susan Koehler, a Sam Club spokeswoman, mentions that they are trying to help smaller practice doctors with the software and hardware needed to access medical records at an affordable cost.

Wal-mart already offers walk-in medical clinics, and this according to Susan is part of how they got the idea of offering electronic health packages. The package, which includes help with training, installation, and maintenance will cost the first doctor in a practice roughly $25,000 with each additional user costing around $10,000.

This all comes at a time when President Barack Obama is pushing electronic medical records as a way to cut healthcare costs, increase efficiency, and reduce errors. IBM already offers such software, it will be interesting to see the companies that will soon follow suit.

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