Discover compliance information for the Life Sciences industry
How much do pharmaceutical speakers make?
The pharma industry is one of the only in the world that cannot sell its products directly. Because they cannot sell their manufactured drugs and medical devices straight to doctors, companies must employ a method of peer-to-peer selling known as the pharmaceutical speakers bureau.
According to research, most pharmaceutical speaker bureau companies prefer to pay their speakers a flat rate. Though notably, this rate can vary depending on the physician’s quality, experience, and expertise.
Rates tend to sit somewhere between $750 and $2,500 for those speaking at pharmaceutical speakers bureau events. However, it is worth noting that these amounts are not always true. Many pharmaceutical speaker bureau companies have admitted they are willing to pay significantly higher rates, even double, for speakers and key opinion leaders who are more effective or popular. Some will pay up to $6,000 just to persuade a particular speaker.
While most pharma companies prefer to use flat rate flees to pay their speakers, some businesses, namely medical device companies, pay their educational speakers an hourly rate.
It is clear that pharmaceutical speakers can make vastly different rates depending on their popularity and how much a pharma company wants them. Organizing these events, keeping track of payments, and ensuring everything are correctly reported can be complicated.
Software for speaker management, like the one offered by MedCompli, can significantly reduce the labor and risks associated with the pharmaceutical speakers bureau.
The MedCompli speaker program gathers all of the management-related information in one location. You can plan the event and key opinion leaders using MedCompli, guarantee compliance reporting, monitor logistics, and manage your staff. Additionally, you may track participants, register them, and examine the costs associated with hiring pharmaceutical speakers.
Setup a free MedCompli demo now to see what it can do.