How to Pick a CRM for Biopharma & Medical Device Companies - A Checklist

Posted In | CRM | Biopharma and Medical Device

Launching a new drug, therapy, or medical device into the market is a milestone for any company. To ensure a successful launch, foundational elements such as technology, operations, and data must be in perfect alignment. This helps you scale your organization without hitting any bottlenecks. An invaluable asset for a smooth commercial launch is a CRM, which empowers your sales representatives to promote your product effectively.

Traditional CRMs come with standard features like managing contacts, scheduling tasks, tracking opportunities, and more. However, in addition to these features, CRMs for biopharma and medical device organizations require tailored capabilities and an effective operating model. These custom functionalities ensure a more accurate response to industry-specific demands, optimizing both sales and patient care processes.

Gridlex offers a suite of applications focused on biopharma, medical devices, and life sciences companies. Gridlex's CRM solution is developed in-house and integrates with 15+ other apps in our ecosystem to help you scale effectively. Gridlex's App Suite is used by innovative companies such as Altathera, Clearflow, and Heron Therapeutics.

Choosing the right CRM for your medical device company is a critical decision with many nuances. This article lists the key considerations for selecting a CRM for your biopharma and medical device company. Please email apps@gridlex.com to learn more about how to pick the right solution.

RFP Questions to Ask Your Potential CRM Vendors

When selecting a CRM for biopharma and medical device companies, it's crucial to ensure that the system not only meets general business needs but also addresses the stringent requirements specific to these sectors. Here are essential questions to include in your Request for Proposal (RFP) to potential CRM vendors:

Can the CRM be customized to fit our industry-specific processes and workflow requirements?
What are the costs associated with customizing, implementing, and maintaining the software beyond the core licensing fees?
How does the CRM address frequent modifications, customizations, and upgrades?
Does the CRM come preloaded with data on Physicians and Key Decision Makers?
Is Sales Data Integrated into the CRM?
Does the CRM have a firewalled but integrated Medical Science Liaison (MSL), Clinical Educator & Medical Information Request (MIRF) Management system?
Does the CRM have integrated Incentive Compensation reporting functionality?
Does the CRM application have the ability to enable Bottom-up sales forecasting?
Does the CRM support Advanced Profiling & Survey Forms?
Does the CRM have advanced marketing automation features such as email sequence automation and Natural Language talking points?
Does the CRM have integrated Sunshine Act Reporting functionality?
Is your Training and Compliance integrated into the CRM?
Does the CRM Support Advanced Data Security and Compliance?

How to Pick a CRM for Biopharma & Medical Device Companies

1. Can the CRM be customized to fit our industry-specific processes and workflow requirements?

Why is this important?

In the biopharma and medical device sectors, adhering to complex regulatory requirements and managing detailed operational processes demand a CRM tailored to these specific needs. Customizing your CRM ensures compliance and enhances operational efficiency, crucial for maintaining your competitive edge and ensuring product safety and efficacy.

Scenario 1: Biopharmaceuticals

For biopharmaceutical companies, the ability to manage regulatory compliance data within their CRM is essential. You need to customize your CRM to monitor regulatory submissions, track changes in drug approval status, and manage documentation across multiple regions. This customization facilitates efficient navigation through complex regulatory landscapes, ensures that compliance is maintained at all stages of drug development and marketing, and supports timely updates to all stakeholders involved in the process.

Scenario 2: Medical Devices

For medical device manufacturers, it’s essential to track the lifecycle of each device from design to post-market surveillance. Customizing your CRM to record detailed device specifications, production data, batch numbers, and compliance status with health regulations is vital. This enables precise tracking of each device's journey, facilitates rapid response to any issues, and ensures adherence to safety standards, ultimately improving patient outcomes and product reliability.

How Gridlex Does It?

Gridlex offers a highly customizable CRM platform, allowing you to tailor features such as workflows, data fields, and user interfaces specifically for biopharma and medical device industries. Whether it’s managing clinical trials, tracking device certifications, or ensuring compliance with global regulations, Gridlex adapts to your business requirements, ensuring your CRM system is an asset, not a limitation.

Gridlex offers an ultra-customizable CRM platform and App Builder, allowing you to tailor features such as workflows, data fields, and user interfaces specifically for biopharma and medical device industries. Whether it’s managing clinical trials, tracking device certifications, or ensuring compliance with global regulations, Gridlex adapts to your business requirements, ensuring your CRM system is an asset, not a limitation.

Scenario 1: Biopharmaceuticals - Regulatory Compliance Tracking

Drug Name	Submission ID	Submission Date	Region	Approval Status	Regulatory Body	Document Repository	Last Updated
PanaceaX	SUB-1001	2023-01-15	USA	Pending	FDA	View Documents	2023-03-20
Zestlife	SUB-1002	2023-02-10	EU	Approved	EMA	View Documents	2023-04-05
VitaHeal	SUB-1003	2023-02-20	Canada	Under Review	Health Canada	View Documents	2023-03-15
CureAll	SUB-1004	2023-03-05	Japan	Rejected	PMDA	View Documents	2023-04-01
RemedyX	SUB-1005	2023-03-25	Australia	Approved	TGA	View Documents	2023-05-10

Scenario 2: Medical Devices - Device Lifecycle Management

Device Name	Model ID	Production Date	Batch Number	Compliance Status	Regulatory Body	Document Repository	Last Updated
HeartSync	HS-200	2023-01-10	Batch-101	Certified	FDA	View Documents	2023-03-30
PulseRegulator	PR-450	2023-02-15	Batch-205	Pending Approval	EMA	View Documents	2023-04-12
OrthoFlex	OF-320	2023-02-28	Batch-309	Certified	Health Canada	View Documents	2023-04-02

2. What are the costs associated with customizing, implementing, and maintaining the software beyond the core licensing fees?

Why is this important?

No two biopharma or medical device companies are alike. Differences in geographical reach, channel strategies, and selling approaches can significantly alter how you introduce products into the market. The tactics for a hospital-centric product differ vastly from those for a specialty pharma drug. These further vary when considering broad-based cardiology products or surgical-focused medical devices.

Each approach demands unique data and workflow configurations. These customizations come with significant upfront and maintenance costs that you need to assess from a total cost of ownership perspective. These non-software licensing costs often account for more than 70% of the total cost of running and maintaining a full CRM solution.

How Gridlex does It?

Unlike other CRM software vendors, Gridlex provides its own implementation services, which are bundled into the total cost of ownership. One of our key operating principles is customer success, and our team intensely focuses on making your organization profitable. This makes it a cost-effective one-stop solution for biopharma & medical device companies.

3. How does the CRM address frequent modifications, customizations, and upgrades?

Why is this important?

From the launch of a CRM platform, updates and tweaks are inevitable. Whether it's a minor adjustment like renaming a field or a complete shift in workflow, the CRM must accommodate. For instance, a sales representative's interaction with a key opinion leader (KOL) might trigger a chain of events.

In such cases, how will you navigate these changes with your CRM vendor? Are these changes considered new change orders? Will the vendor nickel-and-dime you with micro change order costs or set an hourly rate? How will these ongoing expenses impact the growth trajectory of your company in a fast-paced environment?

How Gridlex does It?

Gridlex's operating model is a fixed fee bundled payment that includes the cost of the software. We expect frequent change and welcome it without charging extra for even substantial change- ask any of our customers and see if they have gotten a change order. We work as a true partner and an extended team member to help drive change and adapt to new situations.

4. Does the CRM come preloaded with data on Physicians and Key Decision Makers?

Why is this important?

A CRM without key contact information is an unnecessary obstacle, requiring your reps to get all the information themselves. This directly affects sales and marketing productivity. The quicker your reps can access the information they need, the faster they can initiate outreach, nurture relationships, and close deals. Additionally, manual data entry not only risks errors but also wastes time better spent on core tasks.

How Gridlex does It?

With Gridlex's CRM, you can quickly and easily set up your database using the preloaded contact lists. These lists include Physicians and other relevant professionals along with the data of organization hierarchies to make the process even smoother.

5. Is Sales Data Integrated into the CRM?

Why is this important?

Sales data is the lifeblood of a representative to benchmark how a territory is doing and make necessary improvements. However, most CRMs keep sales reporting data separate, forcing users to invest considerable time in correlating various data points.

How Gridlex does It?

Gridlex's CRM integrates sales data from multiple channels into a unified platform, ensuring data accuracy through advanced processing technologies. It provides real-time updates, customizable analytics, and intuitive visualization tools. This allows sales teams to efficiently analyze performance, understand market trends, and adjust strategies accordingly. Gridlex's ultra-customizable app builder tailors CRM features to meet specific business needs, enhancing strategic decision-making and operational efficiency.

Unified Sales Data Integration: Gridlex CRM integrates data from a variety of sales channels into one centralized system, facilitating comprehensive analysis. This consolidation helps organizations view their sales landscape holistically, improving insights and strategic planning.
Customizable Sales Reports: Gridlex enables users to create customized sales reports that can be tailored with specific filters and metrics to meet unique business requirements. This flexibility allows companies to focus on key performance indicators that are most relevant to their strategic goals.
Automated Data Syncing: With automatic synchronization of sales data across various platforms, Gridlex CRM maintains consistency and reliability in data reporting. This automation ensures that data discrepancies are minimized, and users can trust the accuracy of the information presented.
Enhanced Data Visualization: The CRM employs sophisticated graphical tools to present sales trends and performance metrics clearly and compellingly. These visualizations aid in quickly identifying patterns, making it easier for teams to digest complex data and make informed decisions.

6. Does the CRM have a firewalled but integrated Medical Science Liaison (MSL), Clinical Educator & Medical Information Request (MIRF) Management system?

Why is this important?

In biopharma companies, Medical Science Liaisons (MSL) play an important role in educating physicians and organizations about a product. Similarly, the medical device world also has clinical educators who perform similar tasks in education. These groups often interact with the same customer groups but have different purposes and should be firewalled from a regulatory perspective. However, the database of contacts and organizations should be similar to avoid duplication of costs.

Additionally, there are key processes like MIRF requests that cross over between a sales rep and an MSL. Medical Information Request Forms are an important channel of communication between HCPs and biopharma companies. They are for inquiring about drug action, clinical data, and any adverse patient experiences associated with the drug. Ensuring timely and apt responses based on the nature of the requests is crucial to building loyalty and customer satisfaction.

How Gridlex does It?

Gridlex provides an integrated system but firewalls through role and field-level permissions tailored to MSL, Clinical Educators, and MIRF processes. This role-based access enables you to use the system in two completely different scenarios efficiently, which helps manage costs and accelerates operational changes.

Gridlex's MIRF management application not only captures the precise fields necessary for effective management but also utilizes the same system architecture to facilitate secure and streamlined communication back to users. This ensures that each user group accesses only the data relevant to their specific roles, maintaining compliance and data integrity across the platform.

Set Role-based, Form-Level, and Field-Level Permissions

Data/Function	MSL	Clinical Educator	Sales Representative
Detailed Drug Data	✓	✘	✘
Clinical Trials Info	✓	✘	✘
Educational Material	✘	✓	✘
Training Modules	✘	✓	✘
Sales Data	✘	✘	✓
Customer Interaction Logs	✘	✘	✓
Medical Information Requests (MIRFs)	✓	✓	✘
Sensitive Patient Data	✘	✘	✘

7. Does the CRM have integrated Incentive Compensation reporting functionality?

Why is this important?

Incentive compensation systems allow companies to evaluate the performance of their sales reps, fostering a compliant environment that drives better performance. However, measuring performance can become tedious as companies must review individual outcomes based on various metrics within specific territories.

How Gridlex does It?

Gridlex allows the seamless integration of data from multiple channels, including sales reporting and activity tracker, to create an efficient calculation and management of incentive compensation. The flexible framework allows you to devise a compensation system aligned with the organizational policies and values. It incorporates various measurable and customizable performance metrics, including conversion rates, target achievement, activity logs, training course completion, and compliance.

8. Does the CRM application have the ability to enable Bottom-up sales forecasting?

Why is this important?

Sales reps have an intricate knowledge of market nuances, making rep-driven bottom-up sales forecasting essential for realistic estimates. This aids companies in setting precise sales goals and targets. While this forecasting method relies heavily on sales projections tailored to each market segment and territory, the challenge lies in managing the data. Gathering and consolidating such vast amounts of information accurately can be both resource and time-intensive.

How Gridlex does It?

Gridlex streamlines the bottom-up sales forecasting process with automated technologies that efficiently manage the complexities of data aggregation and analysis. By minimizing manual involvement, our system not only captures and processes large volumes of data but also provides critical market insights through advanced visualizations. This robust approach enables businesses to adapt quickly to market fluctuations and optimize resource distribution, enhancing overall strategic decision-making. Here’s how Gridlex empowers your sales forecasting:

Advanced Data Aggregation: Gridlex CRM automatically aggregates sales data from various sources, ensuring comprehensive data collection that supports accurate forecasting.
Intelligent Analysis Tools: The system employs sophisticated analysis tools that process vast amounts of data to derive meaningful insights, which are essential for effective sales forecasting.
Customizable Forecasting Models: Users can tailor forecasting models within the CRM to reflect unique market dynamics and business objectives, enhancing the relevance and accuracy of the forecasts.

9. Does the CRM support Advanced Profiling & Survey Forms?

Why is this important?

Accurate and detailed profiling of physicians and organizations, such as Key P&T Members or formulary dates, is key to the success of marketing and sales operations. The data enables improved customer segmentation and targeting. This helps sales reps identify targets with greater precision and develop strategies best suited to the segment's characteristics.

Furthermore, surveys are vital research tools, enabling companies to gather specific insights into customer behavior, preferences, and emerging market trends. This feedback allows the companies to adjust their strategies, ensuring better customer satisfaction and revenue growth.

How Gridlex does It?

Gridlex's CRM is equipped with advanced profiling capabilities, designed to support the dynamic needs of the biopharma and medical device sectors. Our platform simplifies the creation and deployment of customized digital profiling and survey forms directly within the CRM. These forms are specifically tailored to capture a wide range of data, from prescribing behaviors to market potential, providing sales teams with the insights needed to craft highly effective marketing messages. Here’s how our system enhances these processes:

Tailored Digital Profiling: Utilizes customizable forms to create detailed profiles that capture essential data points such as specialty, prescribing habits, and organizational roles. This enables targeted marketing and informed sales strategies.
Integrated Survey Management: Seamlessly integrates survey tools within the CRM, allowing for the easy distribution, collection, and analysis of survey data. This integration helps in understanding customer needs and market trends in real-time.
Data-Driven Strategy Development: By leveraging the rich data collected through profiling and surveys, sales representatives can develop personalized marketing strategies that resonate with the specific interests and needs of healthcare professionals, ultimately enhancing engagement and conversion rates.

10. Does the CRM have advanced marketing automation features such as email sequence automation and Natural Language talking points?

Why is this important?

CRMs are not just effective activity-logging systems; they also function as sophisticated marketing platforms. When CRMs can act as assistants, reps can increase their efficiency and automate key responsibilities while adhering to industry standards. Among digital marketing tools, emails stand out for their direct and personal approach. Campaigns with personalized emails with natural language-generated content—tailored using advanced customer segmentation—have been successful in both lead generation and conversion.

How Gridlex does It?

Gridlex's CRM software, supported by Natural Language Generation technology, offers advanced email automation capabilities. The platform allows you to create automated email funnels for specific customer segments with minimal manual intervention. The CRM leverages customer behavior data, including prescribing behavior, preferences, and pain points, as well as relevant disease burden data. This feature allows you to effectively reach out and follow up with prospects via personalized messages.

It further allows you to track and measure the success of various campaigns using email analytics metrics, such as open and click rates. This gives invaluable insight into each lead's level of engagement.

See Gridlex Case Study on Clearflow, a medical device company that leveraged Gridlex's personalized account-specific data, email marketing, and natural language generation (NLG) features.

11. Does the CRM have integrated Sunshine Act Reporting functionality?

Why is this important?

The Physician Payments Sunshine Act (PPSA) mandates biopharma and medical device companies participating in U.S. federal healthcare programs to annually all financial relationships with physicians and teaching hospitals. This includes various transactions, including research, travel, events, gifts, and meals. Accurately tracking these multi-channeled expenses corresponding to individual HCPs across varied systems can be daunting. Any mistakes can lead to hefty fines brought on by non-compliance.

How Gridlex does It?

Gridlex provides a user-friendly platform, making it simple for sales teams and representatives to record and track the different kinds of expenses encountered during HCP interactions. The platform further allows you to aggregate expenses corresponding to unique HCPs across various systems and set appropriate limits. Integrated with expense tracking and event management features, Gridlex provides a comprehensive view of expenditures corresponding to multiple channels and ensures that the budget allotted is not exceeded.

12. Is your Training and Compliance integrated into the CRM?

Why is this important?

Within the heavily regulated biopharma & medical device industry, adequate training for your field sales force is extremely critical. Sales reps must not only meet organizational operational demands but also comply with federal and state laws, as well as those of regulatory bodies like the FDA. Non-compliance can result in severe repercussions, including litigation and hefty fines. Moreover, sales representatives require tailored coaching and learning to effectively engage with the specific territories and organizations they interact with daily.

How Gridlex does It?

Gridlex's life sciences CRM equips you with a platform to train your sales force extensively in areas like safety, compliance, and quality, enhanced by the flexibility of our ultra-customizable App Builder. You can also actively monitor reps' activities, mitigating non-compliance risks. Integrated features like sales reporting and activity tracking allow you to assess performance metrics, pinpoint areas of concern, and offer targeted training. This ensures reps are both knowledgeable about their specific territories and aligned with relevant organizational interactions.

Proactive Compliance Monitoring: The CRM actively monitors the activities of sales reps to ensure compliance with all applicable laws and regulations, leveraging customizable models and fields that adapt to regulatory changes. This proactive approach helps mitigate risks of non-compliance and associated penalties.
Integrated Performance and Compliance Tracking: With integrated features such as sales reporting and activity tracking, the CRM provides real-time performance and compliance data. The system allows managers to customize the dashboard and reports to pinpoint areas of concern quickly and provide targeted training where needed, thereby enhancing the alignment with organizational policies and values.

13. Does the CRM Support Advanced Data Security and Compliance?

Why is this important?

Data security and compliance are important considerations when selecting a CRM for biopharma and medical device companies. Since, companies in this industry often deal with sensitive customer data, including personal and medical information. Ensuring the protection of this information from unauthorized access or breaches is crucial. Moreover, compliance with relevant industry regulations is also important.

Data security and compliance are two critical factors to consider when selecting a CRM for a biopharma or medical device company. This ensures the protection of sensitive customer data and adherence to industry regulations.

How Gridlex does It?

Gridlex CRM incorporates robust data security measures and compliance protocols tailored specifically for the stringent needs of the biopharma and medical device sectors. Our system ensures that sensitive information is safeguarded and regulatory standards are meticulously adhered to:

Strong Encryption and Secure Data Storage: Utilizing advanced encryption to secure data both at rest and in transit, Gridlex CRM protects sensitive customer information against unauthorized access.
Robust Custom Access Controls: Our ultra-customizable app builder enhances the CRM with granular role-based access controls, enabling precise management of data access rights. This ensures that only authorized personnel can access sensitive data, according to their specific roles within the organization.
Comprehensive Compliance Management: The CRM integrates essential compliance tracking features within its automated workflows and activity tracking, facilitating real-time compliance monitoring and reporting. This integration is crucial for continuous adherence to complex biopharma and medical device regulations.
Customizable Security Settings: Features such as custom permissions, page layouts, and reports allow organizations to configure the CRM to meet specific security and compliance requirements, aligning with industry-specific policies.
Regular Security Audits and Updates: Gridlex CRM is continually assessed and updated to address potential security threats and maintain alignment with the latest security standards and industry regulations.

Tailored CRM Solutions for Biopharma and Medical Devices Companies

Selecting the right CRM can be intimidating, considering what's at stake for biopharma and medical device companies. Gridlex delivers a bespoke solution catering to industry-specific needs, guaranteeing streamlined operations, robust data security, and enhanced sales strategies. Sign up for a FREE trial or reach out to us at apps@gridlex.com to learn more about Gridelx features.