Pharma Reform

Pharmaceutical companies committed to bringing truly innovative new products to market should determine where they need expertise and the role of “critical mass” in accomplishing their goals.  Most companies have some level of expertise in most functional areas but it may be stronger in one area than another and is often scattered by chance more than by design across a company.   Most companies today however, do not have the breadth or depth they need in the three critical areas that will determine success in the evolving new healthcare market.  Most Big Pharma executives might be defensive about this or maybe even feel they already have adequate expertise in most of their functional areas.  That thinking is precisely why this is such an important topic given the anticipated changes from healthcare reform.

First, when I talk about expertise,  I am talking about “world class” or among the “best in the industry”.  Not just doing a good job, having good performance reviews, being the best at the company, or having had a spark of brilliance or lucky opportunity in the past.  I’m talking about being the most knowledgeable or the best at what they do,  “in the industry” or ” in the world.”  Second,  I am not talking about having one expert as team leader or  one  on a team, or a couple experts within a company.  I am talking about building teams of the best in the industry or in the world.  I am talking about having  whole teams of best in the industry or best in the world.  I’m not talking about an unrealistic or unnecessary whole company of world class expertise, but teams of expertise in a few well defined, strategically identified, critical areas.  How many world class teams do you have in your company?  How many “world class” teams do you know about at any other pharmaceutical company for that matter?

There are three areas where teams of expertise are essential for success in the evolving new healthcare market.  It is about building these teams with as much expertise as can possibly be put in place.  This is more about an organizational commitment to establish these teams than it is about building “critical mass.”  The objective should be to build teams with as much expertise as can be attracted and hired.  To make this happen, affordability can not be an issue, organizational titles and hierarchy must be dismissed, if necessary, and relocation challenges must be accommodated.  Most companies will not have to worry about hiring too many experts  if they are really looking for and disciplined about selecting “world class “or “best in the industry” candidates.    After all, how many “best” or   “most knowledgeable”  could there really be?

I can hear it now.  Is this guy crazy?  Does he know how much that would cost?   I might well be crazy but I do have a good idea about how much it would cost and I also know it is affordable.  In the next few posts we’ll discuss the three areas of expertise that are critical for success in the evolving new healthcare market and what to do about all the other functional areas and how to make this affordable.

mike@pharmareform.com