Pre-tiered database of global KOLs - kolNOW®
Michael K. Green
CPA
Partner
Darren R. Jones
CIA
Principal
Mark Scallon
Principal
kolNOW® is an on-demand, self-service portal that streamlines the process of evaluating the expertise of key opinion leaders (KOLs) used in consulting engagements.
Fueled by our database of millions of pre-tiered KOLs, life sciences companies can readily and confidently apply the fair market value (FMV) compensation rate to any specific KOL.
Helping support your compliance strategy
In order to comply with anti-kickback and anti-bribery regulations, life sciences companies must determine accurate FMV rates when engaging with KOLs for consulting activities. By recognizing that higher levels of experience typically command higher compensation, it is essential to establish objective evaluation criteria to measure a physician’s expertise. To do so, companies typically leverage levels, or tiers, of expertise to determine an appropriate hourly payment rate.
In addition, there are many industry-recognized domains that factor into how physicians differentiate themselves among their peers, including years of experience and employment history to research and publications to industry association involvement. Whether this determination is completed in-house or outsourced, the KOL tiering process can often be tedious, costly and prone to human error.
Benefits of kolNOW
With a variety of unique benefits and the industry’s first-of-its-kind tool, kolNOW can help your life sciences company streamline and simplify the KOL tiering process.
- Detailed tiering methodology: kolNOW is backed by a robust industry-leading database and our powerful tiering algorithm. Our Methodology Report also provides users with a detailed breakdown of tiering methodology – crucial information should an investigation or audit occur. Included in this report is the detailed weighting of all inputs to our tiering results.
- Pre-determined tiers: kolNOW uses algorithms to apply this tiering methodology to a database of over four million healthcare professionals (HCPs) in order to eliminate biases or human error. If for some reason a physician is not in our database, or if there are questions regarding an existing KOL’s tier in our tool, our team of specialists can manually evaluate to reassign or verify.
- Accessibility: kolNOW is an on-demand, self-service application that allows users to readily access reports based on the physician’s name or by specific search criteria. In addition, companies are able to add and manage users within your organization at no additional charge.
- Usability and support: kolNOW user interface and Baker Tilly’s team of tiering specialists are able to support you if any questions should arise.
- Annual updates: The pre-calculated tiers are updated on a periodic basis to account for changes in the HCPs’ experience so that rankings are kept accurate and as up-to-date as possible.
- Integration into fmvNOW®: kolNOW integrates seamlessly into our FMV tool, fmvNOW. If subscribed to both tools, the platform will rank both the HCP’s tier and assign an FMV rate for any KOLs whose specialties fall within your fmvNOW rate card.
Welcome to kolNOW
kolNOW’s user-friendly design allows users to more efficiently and easily execute KOL tiering at a fraction of the price of performing a manual calculation.
kolNOW home screen
Easy-to-use search function
