Finance 101 for Medical Affairs

Medical Affairs professionals are in their comfort zone when working with data, scientific communications, and HCPs; but often are well outside their comfort zone when called on to develop and track budgets and other financial and non-financial metrics. This webinar aims to bridge the gaps in background and skills between Medical Affairs professionals and finance and business colleagues. Topics covered will include definitions of common terms, budgeting and financial planning in pharma, cost and expense management, how metrics reporting fits into the larger finance ecosystem, and tips on building an effective partnership with finance colleagues. Our presenters will take a Medical Affairs-specific approach to general finance topics, useful for all Medical Affairs functions but particularly operations, therapeutic area leadership, and aspiring Medical Affairs managers.

At the end of this presentation, the participant should be able to:

1. Describe the main differences between internal and external financial reporting
2. Identify components of budgeting/financial planning, cost and expense management, and financial statements
3. Articulate how internal financial reporting in MA fits into the larger Finance organizational ecosystem
4. Define at least 10 terms relevant to finance and Medical Affairs Professionals and have an improved understanding of the language of Finance
5. Apply three actions to build effective partnerships with Finance colleagues
6. Demonstrate effective communication skills that MA Professionals can use when interacting with Finance colleagues