There is a global shortage of physicians and experienced biopharmaceutical and medtech physicians. [1] High salaries as well as other costs associated with these positions are expensive for small companies and stretch the budget in larger corporations. A physician’s medical expertise may be limited by their training, knowledge, experience, and abilities. An effective company neurologist may not be able to help if you have just licensed a dermatologic product. Many doctors may excel at product development, but not be that astute in medical affairs and assisting the commercial organization. Conversely, they may be very effective in medical affairs, but not as knowledgeable in medical monitoring and pharmacovigilance.
This need has created the Composite Virtual Medical Officer (CVMO), offered exclusively at MedSurgPI. A full time CVMO consists of two or three experienced pharmaceutical physicians, who provide a comprehensive package of services, talents and abilities. One MD serves as the project managing physician, ensuring the additional doctors are kept well-informed of all the activities. They serve as one cohesive unit, working together on your project to provide a comprehensive product, often superior to the abilities of one person. This composite virtual medical officer can be full or part time and there are no interruptions to activities with vacation or sick days. The CVMO provides the luxury of having two or three physicians on your team for the price of one.
Advantages of a CVMO:
Greater depth of knowledge and experience than a single hire
Multiple skills in functionable capacity to be an expert in development, monitoring, medical affairs, interacting with the FDA, and pharmaceutical business executive
Full or part time
Economical
Total coverage for vacation or sick leave
Virtual or in-office meetings
Able to be in two places at once (when necessary)
No overhead costs for office, equipment or paid benefits
Expertise in diverse functions and therapeutic specialties
Greater flexibility with multiple options for the following:
+Permanent position
+Immediate interim function while searching for a full-time medical officer
+Changing your lead CVMO as the functional role changes
[1] Degen et al. Human Resources for Health (2015) 13:74