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April 22, 2024

Core elements of high-value, high-efficiency pharmaceutical advisory boards

pharmaceutical advisory boards

Until quite recently, pharmaceutical advisory boards followed a standard operating procedure: recruit well-known, highly published experts and physicians in the target disease community, gather occasionally (most often around leading conferences or annual meetings), spend exorbitant resources on time, travel, and entertainment, then capture, digest and attempt to generate actionable insights from the engagement – a task often completed weeks or months after the in-person meeting.

Across lifecycle management in pharma – from R&D and clinical trial design through patient engagement and post-market and adoption analysis – pharma advisory boards were often laborious, expensive, slow, and subject to the loudest voices in the room dominating conversations and squelching potentially high-value contributions from more introspective, contemplative participants.

While they remain high-stakes endeavors ultimately intended to improve patients’ lives, technology has positively impacted the efficiency, economy, and ability of ad boards to generate higher levels of participation and actionable insights.

A hybrid approach to pharmaceutical advisory boards marries remote, asynchronous efficiency with in-person’s inherent value

The coronavirus pandemic changed the paradigm for pharmaceutical advisory boards. Pharma innovation accelerated in cases when it was most needed to deliver therapies and vaccines that saved millions of people worldwide. Remote connectivity needs gave rise to new tools and methods for virtual advisory boards and insights generation, allowing pharma companies to innovate more efficiently than ever before. These tools and methods also give advisory board members more time in the clinic and at home while still contributing to pharmaceutical advancements in their areas of expertise.

Originally launched as a clinician peer-to-peer engagement platform, Within3 was specifically and intentionally developed for pharmaceutical, biotech, and medical device companies to gather the insights that drive innovation and life-changing results for patients worldwide.

Once in-person gatherings returned in earnest due to genuine enthusiasm for their connectivity and inherent value, a hybrid approach to pharmaceutical advisory boards, including AI moderation and reporting capabilities, is now the value-based standard.

  • Highly efficient and effective pharmaceutical advisory boards exhibit the following qualities:
  • They start with state-of-the-art KOL mapping to identify the right experts, including the new breed of digital opinion leaders, not just those who publish most often or dominate the speaking circuit
  • They provide what everyone needs (pre-reads, transcriptions, reports, supporting publications, etc.) in one place, at any time, anywhere in the world, with translation to almost any language
  • The flexibility to use hybrid approach that marries asynchronous with in-person engagements, usually generating 100% participation rates and and 3-7x more insight
  • Offer the capability to integrate other data sources like field medical notes, clinical trial data, social listening, and more to gain a more holistic view of work
  • Trim weeks or months off time to completion
  • Make reporting highly efficient with AI explicitly trained for the task, allowing medical affairs teams and MSLs cut analysis and reporting time by 90%

Evidence of efficacy using Within3 for pharmaceutical advisory boards

New KOLs to drive research breakthroughs

Thanks to the insights provided by [an] overlooked KOL, one biotech team unlocked a high nine-figure out-licensing opportunity that hadn’t been considered, leading to the development of a potential blockbuster drug. Trial data suggest that the drug could emerge as a best-in-class solution for the condition, significantly improving patient outcomes for more than 10,000 patients annually. The development of the drug led to the company being acquired by a major pharma company in a lucrative ten-figure merger.

3-4X gains in fresh ideas and insights

A medical affairs team conducted a post-market advisory board to understand opportunities for further differentiation and distinction in the market. “A couple of advisors were brand new. A lot of times in these meetings, when there are global experts in the room, new advisors tend to not speak as much. But not only did the new advisors contribute more than I would have imagined, they also got the conversation on a really good trail of thought as a result of having that more innovative thinking.”

“When we go into in-person meetings we really expect maybe 10% something new, 90% things we’ve heard already. This was more of a 30-70% split or 40-60%.” – Medical affairs team lead

Related content

Why Within3 for your next pharmaceutical advisory board?

Pharmaceutical advisory boards on Within3’s insights management platform deliver insights that other engagements can’t – with 24/7 accessibility, structured dialogue, and total security and compliance. Plus, our AI-powered Moderator Assistant saves you time, and AI-supported insights reporting helps amplify your team’s impact on the broader organization.

Our insights management platform gathers, integrates, and analyzes insights better than any other product on the market, reducing insight reporting from months to days, removing 90% of the associated workload, and generating 3-7x more patient, HCP, and KOL feedback. The result? You understand the authentic voice of the customer and enable your team to impact strategy faster than ever before.

Book a demo

Get the ball rolling to make more out of your next pharmaceutical advisory board by scheduling a demo with our team today.

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