Virtual Advisory Boards Retrospective and Trends to the Future

The leader in healthcare professional digital collaboration solutions

EXL Conference – Philadelphia, PAJune, 2015

Virtual Advisory Boards: Retrospective and Trends to the Future

#Within3 @Within3 @PeterMGannon

Engaging busy HCPS: Advisors, Steering Committees, Investigator Meetings, Consultants

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Advancements in VenuesGetting information from Advisors

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SurveysSurveys

Live Meeting

Live Meeting

WebConference

Video Meeting

Video Meeting

“Over” Time

Venues

“Real” Time

Venues

Last 50 Years Last 10 Years Last 5 Years

Video Meetings/Live

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Business Goals

Verbal Communication

Early Relationship Building

“Groupthink”

• In-depth Feedback

• 100% Participation

• Logistics & Scheduling

• Ease of Summation

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#Within3 @PeterMGannon

Be Careful!

#Within3 @PeterMGannon

Our Experience

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Video Meeting

Video Meeting

Online Discussion

WebConference

We provide modern communication solutions to

improve business outcomes.

A new channel for online engagement

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• Use compliant social technology to facilitate interactive dialogue

• A new venue for deep discussion to streamline workflow

• An answer to the barriers of geography and time

Primer – Advancements in Venues

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Live Meeting

Live Meeting

WebConference

Video Meeting

Video Meeting

Online Discussion

“Over” Time

Venues

“Real” Time

Venues

Last 50 Years Last 10 Years Last 3 Years

SurveysSurveys

Online Discussion

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Business Goals

• Non-Verbal Communication

• Early Relationship Building

• “Groupthink”

In-depth Feedback

100% Participation

Logistics & Scheduling

Ease of Summation

20THERAPEUTI

C AREAS

20THERAPEUTI

C AREAS

Mining the Data50 Online Discussion sessions - 2014

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28COUNTRIES

28COUNTRIES

568KEY OPINION

LEADERS

568KEY OPINION

LEADERS

50SESSIONS

50SESSIONS

A common practice was to augment existing live meeting programs with virtual sessions.

Augment Strategy: Live meetings with supplemental touch-points throughout the year

JAN APR JULY OCT DEC

TAKEAWAY: Virtual sessions were “right-sized” to fit a variety of insights needs.

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DURATION (IN DAYS):

7-31DURATION (IN

DAYS):

7-31

# OF ADVISORS

4-19# OF ADVISORS

4-19 AVERAGE # ADVISORS:

9AVERAGE # ADVISORS:

9

TAKEAWAY: Virtual sessions were “right-sized” to fit a variety of insights needs.

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# OF QUESTIONS:

2-43# OF QUESTIONS:

2-43

PAGES OF TRANSCRIPT:

7-153

PAGES OF TRANSCRIPT:

7-153

AVERAGE PAGES OF TRANSCRIPT:

33AVERAGE PAGES OF TRANSCRIPT:

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CONVENIENCE:

15* From Insights Suite HCP activity data in 2014

72%

% o

f Log

ins

Dur

ing

over

24

Hou

r Per

iod*

of HCPs participated in Within3 sessions during “gaps” in their busy work day.

CONVENIENCE:

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30%of HCPS used mobile devices to access Within3 virtual sessions.

SATISFACTION:

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* Feedback from Healthcare Professionals (HCPs) participating in Within3 virtual meetings in 2014

Agree NeutralDisagre

e

I found the online platform to be easy to use. 93% 6% 1%

The content and questions presented in this virtual advisory board session were appropriate and engaging.

99% 1% 0%

The ability to read and reflect on the posts of other advisors in the virtual advisory board is a benefit.

92% 6% 2%

The virtual advisory board allowed me to perform my role as an advisor effectively and efficiently.

90% 8% 2%

I would be interested in participating in a virtual advisory board again in the future.

93% 7% 0%

of HCPs wished to participate in future virtual advisory boards.

93%

TAKEAWAYS: Usage data did not support common “stereotype” myths.

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“I love technology!” “Huh?”

TAKEAWAYS: We saw similar participation levels regardless of age.

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Analysis by therapeutic area also yielded no significant differences in participation levels.

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Moderators who took an active role during their virtual sessions drove 30% more feedback.

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AVG HCP WORDS PER

QUESTION ASKED

PASSIVELY MODERATED

54PASSIVELY

MODERATED

54ACTIVELY

MODERATED

75ACTIVELY

MODERATED

75

30%

Smaller numbers of questions per session promoted twice as much discussion.

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AVG HCP WORDS PER

QUESTION

> 5 QUESTIONS

70> 5 QUESTIONS

70 1-5 QUESTIONS

140 1-5 QUESTIONS

140

100%

Compliant and Safe

0 MLR Exceptions

Summary:5 Best Practices for Online Discussion sessions

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1. Let the need drive the venue, not vice versa

2. Being easier to work with yields highly satisfied KOLs

3. Demographics don’t matter

4. Fewer questions = more discussion per question

5. Moderation is key

The Next 5 Years

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#Within3 @PeterMGannon

Embrace Technology!

The New Normal

Digital Engagement: Supplemented with Live Meetings

* Number of companies seeking to reduce “Live Meeting Footprint” by 10-20% in next 24 months

JAN APR JULY OCT DEC

Expansion of additional Use Cases

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Custom HCP/KOL Engagement Solutions

Association / 3rd-Party Sponsorships

Clinical Trials

Speakers Bureau

MSL

Pre-Launch Stakeholders

Greater Need for Expanded Cost Savings

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ESTIMATES

Cost Pool #1(Hard/Direct)

Enterprise Business Value

Cost Pool #2 (Soft/Indirect)

Total Cost Savings

Total Business Value

Brand Enhancement

Main Drivers

• Agency / Venue fee reduction

• Travel cost elimination

• Honoraria savings

• Client staff productivity

• Others TBD

• Ease of use and engagement

• Value-added educational content

• Access to peers

* Assumes 30 live meetings vs. 5 live meetings plus 25 virtual sessions; includes Within3 fees

Sources: Estimated ad board average cost (typical client data), team analysis

$ 1.398 M $ 520 K

$ 1.918 M

Primary Cost

Reduction

Secondary Cost

Reduction ?

$ 1.9M +

Evolution of Advisor Engagement

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The leader in healthcare professional digital collaboration solutions

Thank You!Peter Gannon [email protected]