VALUE CREATION AND IMPORTANCE OF MEDICAL AFFAIRS IN A MEDICAL DEVICE ORGANIZATION

*Dr. Anish Desai MD, Reshmi Pillai B. Pharm, Nilesh Mahajan M. Pharm and Swapnali Karnik BHMS

ABSTRACT

At the heart of healthcare industry, the shift is from “price” to “value”. The Medical Affairs‟ landscape is also undergoing continuous change. Challenging demands to help balance competitive market dynamics, growing demands from payers and other healthcare stakeholders “on value products” is on rise. Strategic initiatives, consolidated collaboration, uniform and appropriate communication and most important downstream support to R&D innovation can be brought on to table by Medical affairs department. These are brought about by strategic value proposition, Clinical data generation for differentiation and dissemination, product life cycle management, Device Safety initiatives, Medical Information Request and many more. The time is now right to invest in a MA organization that can create a strategic competitive advantage while safeguarding the patient trust.

Keywords: At the heart initiatives, safeguarding the patient trust.