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Determine Total Cost of Ownership & Minimize Risk of Reprints Spend 

Date post: 08-May-2015
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Description:
As a procurement professional in the Life Science industry, you help your organization improve management and visibility of marketing spends such as media services and printing. However, purchasing of clinical reprints is one marketing spend that often flies under the procurement radar. Reprints costs often reach tens of millions of dollars each year. The potential risk with reprints can far exceed their cost. Additionally, this spend may increase with sales force adoption of new technologies such as the iPad. By attending this webinar, you will receive practical steps for sizing up the fragmented reprints spend within your organization. You’ll take away an understanding of the total cost of ownership: Cost structure Additional fees Group purchasing Training Reprints are vital to a wide spectrum of your organization. Review this presentation to understand the reprints spend and to see an efficient effort to reach annual performance goals.
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Determine Total Cost of Ownership Minimize Risk of Reprints Spend 18 October 2011
Transcript

Determine Total Cost of

Ownership

Minimize Risk of Reprints Spend

18 October 2011

What is your level of familiarity with reprints spending today?Very familiarSomewhat familiarNot at all familiar

Poll Question #1

Reprints=

science in article

form

Supporting:

Value-added HCP interactions

Quality patient care

Increased Rx/device sales

Creative services

Media buying

Meetings & events

Printing

Advertising

Promotion

Campaign spend

Representing millions spread across common marketing spend categories

With key drivers expected to increase spending

Has your company deployed iPads to sales team that engage with HCPs? YesNoNot yet, but planning to do soNot sureNot applicable – we don’t engage HCPs

directly

Poll Question #2

Drivers

such aslaws &

regulatory guidancethat limit

gifting

The flow of reprints

Understanding The Supply Chain

Aggregators• eDevelopment• Ease of access• Order aggregation

Publishers• Own content

IP• Determine

price• Control usage

rights Ad Agencies:• Buy reprints on

clients’ behalf for campaigns

Pharma & Device Companies• Buy reprints to

boost sales

Consulting the supply market

2. Growth MarketSome benefits in engaging vendors pre RFP

3. Mature MarketLimited benefits in engaging vendors pre RFP

1. Early Adoption MarketSignificant benefits from engaging vendors pre RFP

4. Commodity MarketVery limited or no benefit in engaging vendors pre RFP

Number of providers

Gro

wth

in D

eman

d

Low High

High

Low

When to engage vendors pre RFP

Uncertainty about what the market can supply and what the optimal solution is

Reprints

eReprints

The Reprints TCO Framework

Aggregation & combined order processing for double‐digit cost savings

Simple % mark‐up, single manufacturer market

Can be eliminated via faster service & turnaround

Cost reduction through local printing, faster turnaround, & digital readiness

Spending without & with aggregation

Non-Optimized:

Optimized: Group $ Savings

Up to 50% total savings

Does your company single source reprints today?YesNoNot sureNot applicable (eg not a buyer)

Poll Question #3

Engage the right stakeholdersEstablish the baselineSpecify outcomes not processesFocus on TCO & value not priceConsult the supply market

5 Tips

Bonus Tip: Avoid Common Pitfalls

Users don’t always prefer YANTS (yet another new technology solution)

Reprint quotes can be manipulated

Don’t forget multiples: article collections

Copyright reputations aren’t all equal

Electronic & iDeploymentcapabilities are critical

Q&A

Thank you.


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