QUALYS VMDR TRAINING FINAL PAPER
COMPLETE QUESTIONS AND ANSWERS
◉ Territory Representative (Professional Sales Representative).
Answer: The heart of a pharmaceutical sales team is the group of
"reps" who interact with customers on a daily basis. Regardless of
how a company configures its territories, each team member is
assigned approximately the same number of physicians to cover.
◉ Specialty Representatives.
Answer: Trained to sell to specific physician specialists, such a
cardiologists, endocrinologists, or oncologists.
◉ Hospital Representatives (Institutional Representatives).
Answer: Call exclusively on hospitals. Institutional representatives
may also call on Veterans Administration (VA) hospitals, nursing
homes, home healthcare agencies, and rehabilitation centers.
Representatives who sell to hospitals and other institutions have
been promoted from the ranks of territory representatives.
◉ District Manager (DM).
Answer: Territory representatives report to a DM. Responsibility is
to coach and mentor territory representatives. DMs also ensure that
,each representative is making their required calls and is on track to
achieve monthly, quarterly, semi-annual, and annual sales goals.
◉ Regional Manager (RM).
Answer: The district managers report to a regional manager. Sets the
strategy for a region and monitors sales activity in each district
under his or her supervision.
◉ National Account Manager (NAM).
Answer: Role is to negotiate product purchasing contracts with
mayor MCOs and giant pharmacy benefit managers (PBMs).
◉ Market Share.
Answer: Most common way to measure bonuses. The
pharmaceutical company determines how much of their product
should sell, and forecasts a percentage market share. If the
pharmaceutical company forecasts that the medication should be
prescribed 30% of the time, your market share needs to be 30%. You
will receive your bonus if you obtain that percentage in your market,
and receive additional bonuses for increases in that percentage.
◉ Actual Sales.
Answer: Not many companies use this method because it is difficult
to calculate. Actual sales can be difficult to calculate because
prescriptions are usually sold through pharmacies. With this
,method, reps are paid a bonus or commission based on the total
actual sales in their respective territories.
◉ Actual Sales vs. Forecast Sales.
Answer: This method is based on the past history of the rep's
designated territory. Companies will forecast and set goals for the
amount of prescriptions to be sold in a specific territory. If the rep
exceeds the forecast, he or she will receive a bonus.
◉ Company Car.
Answer: Most pharmaceutical companies provide company cars to
their representatives. The company car is essentially a portable
office, well-stocked with product samples, educational brochures,
promotional items, etc. In recent years, many companies have
reverted to car allowances for liability reasons, where the company
pays the rep a monthly payment to utilize towards the expenses of a
car.
◉ General Benefits.
Answer: Once hired, reps can expect to receive general, medical, life,
disability, and other more specialized benefits.
◉ Autonomy.
Answer: One of the best benefits of being a pharmaceutical sales rep
is being able to work from home. The primary responsibility is to
, call on physicians during office hours, but other duties are required.
The rep must set aside time to complete several reports, and must
frequently attend regional and national meetings.
◉ Expenses.
Answer: A lot of the rep's time is spent entertaining clients, often
over breakfast, lunch, and dinner appointments. The rep's expense
account is used to offset these entertainment expenses, including
transportation related expenses.
◉ Stop bys.
Answer: Pharmaceutical representatives meet with physicians
through arranged appointments or "stop bys" - no set appointment.
◉ Goal of a pharmaceutical sales representative.
Answer: Selling a product, service, or concept
◉ Cases where the pharmacists will make the decision to dispense a
product other than the one prescribed by the physician:.
Answer: 1. The pharmacist substitutes a generic.
2. The pharmacist calls the doctor and requests permission to
dispense a different medication.
◉ Third party payers.
COMPLETE QUESTIONS AND ANSWERS
◉ Territory Representative (Professional Sales Representative).
Answer: The heart of a pharmaceutical sales team is the group of
"reps" who interact with customers on a daily basis. Regardless of
how a company configures its territories, each team member is
assigned approximately the same number of physicians to cover.
◉ Specialty Representatives.
Answer: Trained to sell to specific physician specialists, such a
cardiologists, endocrinologists, or oncologists.
◉ Hospital Representatives (Institutional Representatives).
Answer: Call exclusively on hospitals. Institutional representatives
may also call on Veterans Administration (VA) hospitals, nursing
homes, home healthcare agencies, and rehabilitation centers.
Representatives who sell to hospitals and other institutions have
been promoted from the ranks of territory representatives.
◉ District Manager (DM).
Answer: Territory representatives report to a DM. Responsibility is
to coach and mentor territory representatives. DMs also ensure that
,each representative is making their required calls and is on track to
achieve monthly, quarterly, semi-annual, and annual sales goals.
◉ Regional Manager (RM).
Answer: The district managers report to a regional manager. Sets the
strategy for a region and monitors sales activity in each district
under his or her supervision.
◉ National Account Manager (NAM).
Answer: Role is to negotiate product purchasing contracts with
mayor MCOs and giant pharmacy benefit managers (PBMs).
◉ Market Share.
Answer: Most common way to measure bonuses. The
pharmaceutical company determines how much of their product
should sell, and forecasts a percentage market share. If the
pharmaceutical company forecasts that the medication should be
prescribed 30% of the time, your market share needs to be 30%. You
will receive your bonus if you obtain that percentage in your market,
and receive additional bonuses for increases in that percentage.
◉ Actual Sales.
Answer: Not many companies use this method because it is difficult
to calculate. Actual sales can be difficult to calculate because
prescriptions are usually sold through pharmacies. With this
,method, reps are paid a bonus or commission based on the total
actual sales in their respective territories.
◉ Actual Sales vs. Forecast Sales.
Answer: This method is based on the past history of the rep's
designated territory. Companies will forecast and set goals for the
amount of prescriptions to be sold in a specific territory. If the rep
exceeds the forecast, he or she will receive a bonus.
◉ Company Car.
Answer: Most pharmaceutical companies provide company cars to
their representatives. The company car is essentially a portable
office, well-stocked with product samples, educational brochures,
promotional items, etc. In recent years, many companies have
reverted to car allowances for liability reasons, where the company
pays the rep a monthly payment to utilize towards the expenses of a
car.
◉ General Benefits.
Answer: Once hired, reps can expect to receive general, medical, life,
disability, and other more specialized benefits.
◉ Autonomy.
Answer: One of the best benefits of being a pharmaceutical sales rep
is being able to work from home. The primary responsibility is to
, call on physicians during office hours, but other duties are required.
The rep must set aside time to complete several reports, and must
frequently attend regional and national meetings.
◉ Expenses.
Answer: A lot of the rep's time is spent entertaining clients, often
over breakfast, lunch, and dinner appointments. The rep's expense
account is used to offset these entertainment expenses, including
transportation related expenses.
◉ Stop bys.
Answer: Pharmaceutical representatives meet with physicians
through arranged appointments or "stop bys" - no set appointment.
◉ Goal of a pharmaceutical sales representative.
Answer: Selling a product, service, or concept
◉ Cases where the pharmacists will make the decision to dispense a
product other than the one prescribed by the physician:.
Answer: 1. The pharmacist substitutes a generic.
2. The pharmacist calls the doctor and requests permission to
dispense a different medication.
◉ Third party payers.
