In 2014, Australian pharmaceutical companies spent more than $2,000,000 on advisory boards over a 6-month period.1 What was the return on this investment, you may ask?
At one end of the spectrum, advisory boards can be invaluable, providing external opinion, sage advice and input into brand position and strategy. On the other hand, poorly convened meetings can waste time and resources, frustrate and even disenchant members, with little return on investment. Like most activities we undertake, the end result is usually a function of the amount of time invested into planning and pursing the best outcome. Board meetings can be futile unless you have the motivation, time and resources required to make them work!
- Set the meeting objective and plan the agenda well in advance
Have a clear meeting purpose and seek stakeholder input on the proposed agenda. Listen and be flexible to change. Board members want to know their time and input is valued. This is important for building interest and soliciting opinion to maximise face-to-face time, so you can focus on what’s most important for driving success. Send out relevant information before the meeting so members can prepare.
- Ensure you have the right people
You want a mix of knowledge and skills, brand advocates, fence sitters and skeptics, who will collaborate, and generate ideas, not collide. Choose the right chairperson (preferable a well respected external person) to encourage honest feedback, keep the meeting on track, summarise key conclusions and highlight action points from the meeting. Brief the chairperson thoroughly to ensure they’re on the same page.
- Set expectations
All members should be aware of the board’s mandate, the level of participation required and financial compensation. Honesty, trust and open frank discussion should be encouraged at all times.
- Be action-oriented
Be clear on what you want to achieve at the end of the meeting. During the meeting, ensure key points are summarised after each session, and make actions, responsibilities and next steps explicit.
- “Mix it up”
Listen don’t lecture. Avoid lengthy didactic sessions. You’ve engaged board members to hear what they have to say. The company’s role should be to encourage and facilitate discussion. Include a variety of adult learning formats, such as interactive workshops, case studies and activities, which draw out key issues, opinions and ideas.
- Pay for professional meeting minutes
An experienced medical writer will distill the nib of verbal discussions. Conversation often moves back and forward, in a non-linear or haphazard fashion. Minutes should be informative, but pertinent, collate and crystallise relevant points in a clear, logical order. Good documentation is essential for ongoing reference and to ensure follow up and progression from meeting to meeting. Wherever possible the writer should attend the meeting to glean an accurate and complete perspective of the proceedings.
- Follow-through
Without action, there is no effect. Ensure responsibility for follow through of all meeting action points and next steps.
- Review
Continually seek feedback from external and internal attendees regarding the effectiveness of the meeting. If it’s not working, change it. Sometimes you may even need to change board members.
Reference: 1. Medicines Australia. Company Reports Summary. 1 April 2014-30 September 2014, available at: https://medicinesaustralia.com.au/code-of-conduct/education-events-reports/advisory-board-reports/. Accessed 29 May 2015.
Note: Medicines Australia detail a number of professional standards for Australian pharmaceutical advisory boards (see Section 9.9 Code of Conduct Edition 18, available at: https://medicinesaustralia.com.au/code-of-conduct/code-of-conduct-current-edition/
About the author:
Celia Green (B Pharm; MBA) is director of Bioscript Pty Ltd, an Australian medical communications company established in 2003. Celia has over 22 years’ experience in the pharmaceutical industry, including several years as a Medical Liaison Manager, where she assisted with company advisory boards. As a consultant, Celia has attended and written minutes for a large number of diverse pharmaceutical advisory boards.
