Life science companies need to be able to move fast during the PRC review and approval process. You need to get a constant stream of relevant content to key audiences while being able to rapidly pivot to meet a new audience, respond to new data, to hone or shift their messaging and maintain a direct level of communication with customers while maintaining a consistent brand voice. Life sciences companies must do all of this with the added challenge of staying within the boundaries of strict regulations.
Our customers tell us that their ability to review, approve, and launch content fast enough to support the needs in the field is a critical success factor to commercial excellence. But in order to achieve an optimal PRC review and approval process, you first have to understand how it’s performing.
What’s the current state of PRC review and approval in 2022? Here are three key data points from our latest report 2022 Promotional Review: Benchmarks and Insights for Life Sciences. Download the full report here.
Small to mid-sized companies are turning around content at top speed
In 2022, small and mid-sized businesses have the shortest average job duration at 12.3 days and the fastest average review time at 6.9 days. Conversely, enterprise companies have the longest job duration and longest average review times, but produce the most content.
Medical moves faster than regulatory in during content review
Across life science companies of all sizes, medical reviewers were able to review content faster than regulatory departments (2.0 days vs. 2.6 days) and have a higher first circulation approval rate (71.5% 5vs. 70.1%).
Happy teams lead to a faster content review process
Companies that are satisfied with their material review software also have the fastest time to market.
For companies satisfied with their material review software, the average review duration was two days shorter than for companies with low levels of satisfaction (5.7 days to 7.7 days). The disparity between the duration of jobs from preparation to final approval was even greater, with satisfied companies coming in at 11.1 days and less enthusiastic reviewers at 14.9 days.
In order to achieve an optimal PRC review and approval process, it’s important to understand how your internal targets compare to your peers and how to leverage that data to drive improvement efforts to achieve commercial excellence.
Want to get the full set of 2022 data? Download our benchmarks report here.