The Encore: How to Link MSL Employment Costs and Training Timelines

Welcome back to our series on the costs and returns of employing Medical Science Liaisons (MSLs). In this encore piece, we will look at some data collected that is complementary and demonstrates the often-overlooked costs of training and acclimating new MSL hires. The financial implications deserve a closer look, especially when considering the length of training period and the costs of employing a Medical Science Liaison.

LinkedIn Polls Reveal Training Timelines

We recently conducted two LinkedIn polls to gauge the industry’s perspective on how long it takes to train a new MSL hire and how long it takes for an aspiring MSL to acclimate to their new role.

Poll 1: Training Time for Experienced MSLs

According to 76% of respondents, an experienced MSL takes up to 6 months to train before being field-ready.

Poll 2: Acclimation Time for Aspiring MSLs

54% of pharmaceutical industry-experienced respondents indicated that an aspiring MSL takes 12-18 months to become fully acclimated.

Interestingly, 59% of non-pharmaceutical industry experienced respondents indicated that an aspiring MSL takes only 6-12 to become fully acclimated to their new role and industry.

Our interpretation of this dichotomy is there is an under-estimation of the amount of time it takes to adjust to a new regulatory environment on the part of non-industry experienced respondents.

The Financial Implications

In our previous blog post, we estimated that it costs $292,320.60 to employ an MSL on a conservative basis. Let’s break down the costs associated with the training period:

Experienced MSLs

Assuming a 4-month training period for an experienced MSL, the employment cost during this time would be approximately $97,440.

Aspiring MSLs

For an MSL hire who has no prior industry experience, the training period can cost a staggering $438,480 with an 18-month acclimation period. It is safe to assume that a new MSL will be in the field during much of this 18-month period, making the true cost of training a new MSL lower than this figure. However, these employees will require a longer training period and an unaccounted for acclimation period compared to those with prior experience.

The Hidden Costs

These numbers do not account for the opportunity costs of having a less-than-fully-effective MSL in the field during the training and acclimation periods. Nor do they consider the costs of vacant openings on the team or recruitment.

With our exclusive partnership with PharmacoTalent, our goal is to drastically reduce these hefty on-boarding, training, and acclimation costs.

Maximizing ROI Amid High Costs and Imperfect Metrics

As we discussed in Part 3 of our series, the key to maximizing ROI on MSL investments lies in effective training focused on business intelligence skills such as information gathering, storytelling, improvisation skills, professional branding, and sales strategies for non-sales professionals. Tools like PharmAccelerator’s software can fill the most important gaps in the MSL role, providing a way to measure and track the quality of interactions that MSLs have with healthcare providers.

Conclusion

The costs associated with training and acclimating new MSL hires are significant and should not be overlooked when calculating the overall Medical Science Liaison salary and employment costs. Effective training and acclimation programs, coupled with robust metrics and analytics, are essential for maximizing the ROI on these high-value employees.

Thank you for following our series and this encore piece. We hope it has provided valuable insights into the complexities of MSL employment costs and efficacy metrics.