III. Thought Leadership and Provider Relations
Stratum thought leadership and provider relations services help protect life science companies from significant risks brought about by today’s Department of Justice or other regulatory scrutiny. Our process minimizes risks while maximizing the potential surrounding proper alignment with Key Opinion Leaders (KOLs) and Healthcare Professionals (HCPs).
By providing a thorough and effective third-party review of KOLs and HCPs, life sciences companies can better identify and verify these alliances and use this information to determine Fair Market Value (FMV) compensation. Stratum can augment our baseline analysis to include other review/investigation protocols such as background checks for sanctions/exclusions and ongoing monitoring. In addition to vetting existing candidates, we can also assist clients in identifying and contracting with providers across the United States and the world. Our services include the following:
1) Fair Market Value (FMV) Reviews and Assessments
Stratum has developed a process for determining appropriate compensation for KOLs and HCPs for various levels of engagement and services provided such as consulting, speaking, education or research. Stratum can provide opinions on hourly rates, project rates, royalty fees and equity offerings including other compensation structures, combinations and arrangements. Applying Stratum’s proprietary assessment tool, we are able to determine a score that corresponds to an individual KOL/HCP designation that is broken out into one of four categories (international, national, regional, local).
2) KOL / HCP Coaching Services
For providers seeking to advance their designation level, Stratum provides coaching services that will assess, advise and guide an individual KOL/HCP on effective ways to elevate their classification.
3) KOL / HCP Monitoring
Stratum provides monitoring for corporate clients who want an ongoing process for mitigating risk by ensuring the organization is notified in a timely fashion of sanctions, license suspension, criminal charges or other related issues with an individual KOL/HCP.
4) KOL / HCP Matching
Stratum can assist clients in identifying and contracting with providers across the United States and the world. We can also provide an effective interface between the KOL/HCP and corporate client to effectively negotiate and secure an agreement for proposed work.
5) Clinical Studies and Site Selections
Stratum can assist clients with various stages of product research and development to include identification of clinical studies and evaluation of appropriate testing facilities and research partners. Proper clinical studies and site selection will greatly expedite the research, testing and approval phases of product development, ensuring valuable resources are not wasted. Better studies also yield stronger data that can significantly improve the chances for regulatory approval, while accelerating the approval process.