The pharmaceutical industry is undergoing a significant transformation - shifting away from the development of blockbuster drugs to a more value-driven approach based, increasingly, on specialty medicines for niche markets and patient outcomes. For the commercial operations landscape, specialty medicines come with their own specific challenges across data integration and data coverage. Further, procuring market data is also difficult and cost-prohibitive, leading to unreliable specialty product forecasts, both of which limit the components used for incentive compensation to product-based sales and activity objectives.
The focus of this white paper is to highlight key challenges in designing incentive compensation plans for promoting specialty drugs by a pharmaceutical sales force and the recommended best practices when approaching them.
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