X is for eXtreme eXcitement! Call me crazy, but even after 12 years of working in the Strategic Meetings Management arena, I still get extremely excited about designing, implementing or simply improving on an SMM Program! Although I am frustrated that more organizations have not yet put the category of meeting and event management high on their priority list for this year or next, I am thrilled that there is an increasing number of companies that see the value in controlling Meeting and Event expenditures.

 

This increase in SMM engagement is evidenced by more meeting managers, travel managers and procurement directors who have stated that there has been more interest from senior level management in understanding:

• How much is being spent on meetings and events on an enterprise wide basis
• Who is attending the meetings and events
• If meetings are being held at locations appropriate for the purpose of the meeting
• The duty of care process to protect meeting attendees
• Return on Investment for each individual meeting
• The ability to ensure consistency in branding and messaging
• How risk is mitigated throughout the contracting, negotiation operation of meetings

No doubt, I am hearing these queries coming more frequently from leaders in Life Science companies who are concerned about the controls they need to have in place for Health Care Professional (HCP) meetings. Especially from those US based companies who have to adhere to the reporting requirements for the Sunshine Act that goes into effect in 2013. This increase in focus in the Pharmaceutical sector is welcome and extremely exciting! However, I have to say that I am shocked to hear some key staff members in pharmaceutical companies say that they will not be affected by the implications of the Sunshine Act. This concerns me, because all pharmaceutical and medical device companies are being affected by the new regulations. These folks are truly putting their organizations at risk if there is a lack of controls in place to restrict HCP meetings from being placed at inappropriate venues or the ability to track the spend per HCP by category, by event on an annual basis. I urge any of you involved with this industry to help those not understating the implications of the Sunshine Act to show them the light as soon as possible!