Polaris develops efficient processes to support contracting with fees grounded in objective measures of market value. For over a decade, we have helped our clients by providing solutions for determining the Fair Market Value of payments to physician consultants, managed markets programs, medical grants, and payments for clinical trials.
Polaris has deep experience and a proprietary methodology for establishing Fair Market Value rates that are leveraged by our clients worldwide. Domestic FMV and International FMV bring unique challenges and require separate processes to collect and properly evaluate data, and Polaris’ global consulting team has the background to provide local solutions.
The company has developed rates and Fair Market Value methodologies for engaging with HCPs and HCOs in over 90 countries and offers an online tool that provides access to global rates and fees for services, including exception processing and audit trail.
Innovative Solutions for Valuing a Variety of Services Funded by Life Sciences Companies
Our experience includes:
- FMV Benchmarking of Healthcare Professionals (US and International)
- Global FMV Methodology Implementations
- Wholesalers Services Rate Determination
- Exhibits, Grants and Promotional Program Rate Cards
Polaris’ FMV Calculator
The FMV calculator is a simple and effective tool for calculating FMV for a range of fee for service activities.
It allows users to calculate fees for activities that have work requirements which fall outside of existing common work effort assumptions for speaking engagements or consulting services.
It can be used as part of the standard FMV determination process and also to support exception process decisions and documentation.
More specifically, its benefits include:
- Ability to calculate fees based on non-standard work effort assumptions
- Global FMV functionality with the ability to calculate FMV rates for multiple countries
- Rate differentiation by KOL status
- Differentiated functionality for compliance and non-compliance users
- Serving as full FMV policy repository with user ability to upload and download supporting documentation
For additional questions on the methodology, assumptions or rates used or for further information on Polaris’ Fair Market Value practice, please email us at FMV@polarismanagement.com.