Want Better KOL Meetings? Use Transfer Of Value Data

Transparency reporting & how you can use it to prepare for KOL meetings

 Collaboration between the pharmaceutical industry and KOLs/Healthcare organizations benefits patients. In order to ensure that a high ethical standard of conduct is maintained, transparency reporting exists. This means that pharma companies make publicly available the money they have transferred (i.e. transfer of value) to KOLs/Healthcare organizations for different collaborations. 

An example is below for global expert in the oncology space in the US. 

Data is taken from Open Payments, a US data source. Other data sources exist for other countries. 

This KOL has worked with many different companies in 2021 with the highest payment/transfer of value being from Nano Pharmaceuticals. 

Payment/transfer of value was for a variety of different reasons including consulting, speaking honoraria and food and beverage costs. 

How can MSLs use this information to have better interactions?

 This information tells us 3 things: 

1. This KOL is pharma friendly and has worked with pharma before.

2. This KOL has done a lot of work with Nano Pharma in 2021. If they are a competitor of my company, I may not want to engage this KOL to speak at my sponsored symposia or be on my ad board as they already work so closely with my competitor.

3. This KOL has spoken for pharma companies before and so will be well briefed on the need to be compliant and on-label when speaking at a company sponsored event. This will make speaker briefings easier.

Want to learn more practical tips on increasing your MSL capability? I provide step by step guidance in my video course Master KOL Engagement.