Since pharmaceutical companies launched Medical Affairs organizations in the late 1990s, it’s been a challenge to measure the team’s impact. What other activity metrics could be used when attributing product sales, revenue, and profit to Medical Affairs is not compliant?
While the ultimate measure of medical affairs is the improvement of patient outcomes, this measure is too long-term to evaluate progress on a regular basis. What is needed is a measure that shows the outcome of the combined efforts of medical strategy, publications, congress involvement, MSL engagement with KOLs, medical education, and the many other teams that are part of medical affairs. This is where Share of Scientific Voice comes in.
The answer comes from a basis in the world of sales and marketing, Share of Voice represents “the relative portion of ad inventory available to a single advertiser within a defined market over a specified time period.” In other words, the Share of Voice metric tells advertisers if the customer heard (or read) about their product more, less than, or equal to competitors’ products. Another term that describes this is Mindshare—“consumer perception of a particular brand or product compared to their rivals as measured by the amount of talk or mentions generated by the public or the media.” Same idea.
Presumably, the higher one company’s Share of Voice and Mindshare, the higher their sales compared to the competition. However, there is no direct link between Share of Voice and revenue, making this the useful metric to reliably measure the value of Medical Affairs. What does all of the work of medical affairs lead to? The public dissemination of science aligned with your scientific platform. The share of relevant scientific literature related to your product versus others in the same space is your Share of Scientific Voice (SOSV).
Measuring Your Share of Scientific Voice
To find your Share of Scientific Voice, begin with all of the publications and presentations specific to your relevant indications. Then identify how many of the abstracts contain mentions of your product compared to others in your class. This is your overall, big picture, Share of Scientific Voice.
SOSV = Mentions of your product / Mentions of all primary products in indication
You may already have data points like these. Share of Scientific Voice gives them new meaning. It’s a shift from, “Are our efforts having an impact?” to, “Are our efforts relative to other companies having an impact?” The better the question, the more useful the answer.
If you do not have access to those activity metrics yet, do a free search on PubMed or you use premium alternative Pharmaspectra, which will save you time and provide much more accurate results. While PubMed is a great free option, it’s not as thorough since it does not contain meetings data. Pharmaspectra is the best-in-class option because it aggregates more data than any other platform.
After building your foundation Share of Scientific Voice dataset, you can begin using the data for strategy development. This includes looking at the specific journals and publications where the majority of science is being disseminated, see the SOSV of specific meetings for you and competitors, and you can even bring in weightings. Finally, when set up properly, you can also search against specific scientific strategies.
If you’d like to learn how to measure your Share of Scientific Voice or work with a Pharmaspectra partner, reach out to Acceleration Point here.