NEW! Patient Engagement Fair-Market Value Calculator & Compensation Tools

06/25/2020

By: Silke Schoch, Elisabeth Oehrlein, Eleanor Perfetto

We are excited to announce the launch of the NHC Fair-Market Value (FMV) Calculator on June 26, 2020! The NHC’s FMV Calculator will provide guidance on how companies can provide fair compensation and reimbursements to patients, caregivers, and patient representatives who are involved in patient-engagement activities. The NHC’s FMV Calculator is free for public use. In addition to the online, interactive calculator, the Toolbox includes the following resources to guide sponsor-patient engagement activities:

  • NHC Patient Engagement Fair-Market Value (FMV) Calculator
    • User Guide
    • Interpreting Your Results
    • FMV Hourly Rate Methodology
    • Glossary
  • Patient-Engagement Activities Framework
  • Principles for Compensating for Patient-Engagement Activities

The NHC will present the “NHC’s Patient Engagement Fair Market Value (FMV) Calculator Toolbox” tomorrow, June 26 at 9 a.m. ET during the Patient Engagement Open Forum. Register to attend the Friday session here. We will also conduct trainings throughout the Summer and Fall.

Later this summer, we will be releasing additional tools to streamline contracting between industry and members of the patient community. We hope these tools will create sustainable, compliant, and patient-friendly agreements between stakeholders and the patient and caregiver community.

If you have any questions or would like to receive updates about the FMV Toolbox, please email [email protected].

 

Acknowledgement: Special thanks to members of our Steering and Review Committees, our sponsors. We also thank Ankura and Faegre Drinker Biddle & Reath, LLP who assisted us during this project.