Category: Professional Posters
Purpose: The Medical Information (MI) Student Affairs Team at Pfizer has been an integral component to the development of medical information skills of pharmacy students currently enrolled in a PharmD curriculum. While students have reported that the knowledge and insight they have attained during their rotation has been invaluable and critically important to their careers and professional development, there is little data to show how these students bring value to the MI department at Pfizer. As such, the purpose is to report the valuable benefits that pharmacy rotation students bring to the business.
Methods: A list of all US pharmacy rotation students in MI between March 2018 and April 2019 was procured for this analysis. Students that completed a Medical Information Activity (MIA) Tracker during their rotational experience were included. MIA Trackers were counted for several traditional MI activities. Next, the amount of time it typically takes an MI colleague to complete the listed activities was averaged amongst MI managers (MIMs) completing these tasks. The Pfizer MI estimated total compensation rate (including wage, health contributions, etc.) for full time employees was obtained. MIMs that served as preceptors were asked to provide the average number of hours they spent with rotation students.
Return on Investment (ROI) was calculated by taking the aggregate data of MI activities completed by students and multiplying it by the average number of hours it takes MIMs to complete these same tasks. Finally, the average number of hours preceptors spent with students was subtracted. Number of hours was then multiplied by average hourly wage of a MIM to provide a dollar value. While a monetary value was extrapolated, the true value was realized in free capacity which enabled colleagues to focus on innovative and creative thinking and ideas.
Results: A total of 15 students were included in the final analysis. In totality, students completed 232 MI core tasks (99 literature searches; 33 localizations of global documents; 32 summarizations of one article; 48 custom inquiry response documents authored; 1 development of a Scientific Response Document (SRD); 9 creations of Patient Response Documents (PRD); 10 fact-checking opportunities). This equated to ~750 hours of MIM work. A range of ~$18,000.00- $20,000.00 was determined to be the value added, utilizing the predetermined ROI calculation method. The assistance provided by students has allowed MIMs to participate in activities such as providing actionable insights and developing innovative ways to provide information to patients and health care providers.
Conclusion: Pfizer’s Student Affairs Team commitment to providing a unique and insightful experience to pharmacy students on rotations is mutually beneficial to the students and the MI staff’s learning and development. Activities completed by rotation students has enabled colleagues to influence the external environment through focus on innovative content, and spending time on analyzing insights and trends. Over the past year, Pfizer MI’s dedication to the development of students has resulted in a positive ROI.