Â As healthcare outcomes data gains more influence with decision makers, Pharmaceutical and Medical Device executives are increasing their attention to the Health Outcomes Liaison (HOL) function.
A new Best Practices, LLC study found that HOLs are emerging as invaluable "information conduits" that have the potential to guide and refocus healthcare decision makers, delivering services that help payers and other groups determine which medicines, therapies, diagnostics and tests to support and reimburse.
The report, Health Outcomes Liaison Excellence: How the HOL Function Drives Value across the Healthcare Industry, explores how leading companies provide exceptional HOL services in an ever-changing business environment.Â The research also examines best practices in HOL management and differentiation of HOLs from other positions that serve diverse customer groups such as physicians, patients, payers, and advocates.
Christopher Bogan, chief executive officer of Best Practices, LLC, and Daniel Pascheles, Ph.D., vice president at Merck & Co., Inc.,Â underlined the growing value of health outcomes services in a jointly-authored an article, "The Ultimate Business Model: Planning that Thousand Year Future." The full text is published in the August 2012 issue of Pharmaceutical Executive, a leading trade journal for the pharmaceutical industry.
In their article, the authors suggest how HOLs can help biopharma reinvent itself in this struggling economy: "Health outcomes represent a large frontier of opportunitiesâ€”all that may lead to greater insight regarding which therapies produce the most desirable and measurable results."
Likewise, the study found that although the HOL function is still in its infancy, it must be considered as an area of expansion, as its ultimate value and potential has yet to be realized. Given the expanding role of HOL groups and the challenging environment they face, it's critical for organizations to continually improve their HOL activities and services to ensure they are creating value for diverse customer groups. Some of the key topics covered by the research include:
Charting the scope, frequency, and timing of HOL services
Outlining methods HOLs use to engage internal and external customers and build lasting relationships
Identifying trends expected to impact the HOL function
HOL salaries, key responsibilities and competencies
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our reports, database, and advisory services to support executives in commercial and R&D operations.