10 Tips on How to Find the Right Pharma Regulatory Consulting Services Company

In the pharmaceutical and biotech industry, there are many regulatory consulting services companies that you can choose from.

However, it’s important to choose one that will be able to provide your organization with the high level of professionalism, integrity, and value that you expect.

Here are ten tips on how to find the right pharma regulatory consulting services company to meet your needs.

1) The Value of Consulting

When developing a pharmaceutical product, companies use many different consulting services. These include regulatory, clinical and scientific services.

It is possible to find various forms of consultation that can be done on your own for free or at a low cost; however, when looking for pharma regulatory consulting services, it is advisable to hire an outside company to handle these tasks.

2) Initial Questions to Ask Yourself

Before you start shopping around for pharma regulatory consulting services, ask yourself some questions first. What do you need? What’s important to you? Why are you doing this in the first place?

Only after exploring your answers can, you find an appropriate company and/or a consultant with whom you’re comfortable working.

Some questions include: Do I have time and/or money to spare? Do I have enough regulatory knowledge and experience under my belt already or will I need extra support along the way (i.e., help gathering data, drafting documents, etc.)?

3) Talk To Industry Leaders

If you’re thinking about hiring a pharma regulatory consulting services company, make sure to talk with industry leaders and colleagues who have used such services.

There are pros and cons of every type of business; get some information from other professionals in your field so you know what to expect. If they had a good experience, you might too!

On top of that, there is absolutely no substitute for experience — so if one consulting firm has been around longer than another, it’s likely their work is up-to-date.

A more established business should also have better systems in place to provide high-quality service consistently.

4) Consider Credentials and Experience

With regulatory consulting services, it’s important that you hire someone with strong credentials and a solid track record.

A good rule of thumb is to make sure your service provider has experience in your specific industry. For example, if you’re an in-house regulatory expert working for a pharmaceutical company, find a service provider who specializes in pharmaceuticals, not someone whose sole specialty is food safety regulations.

The same holds true for outsourcing and other types of consulting services like accounting or operations — find an expert who’s well versed in your industry.

Looking for a broader firm that has expertise across multiple industries? Make sure they have someone on staff with relevant experience and background knowledge.

5) Check Out Testimonials and References

In order to find out if a company is right for you, be sure to ask them for testimonials and references. Read what others have said about their experience working with a certain company and check out reviews online.

This is an excellent way of gaining insight into how professional companies conduct business and serve clients. After all, how can you know if a regulatory consulting services company will treat you well if they don’t treat their other clients well?

You can also use testimonials as leverage when negotiating rates or contracts with potential service providers.

6) Request a Trial Project

Working with a regulatory consulting company can seem like a big commitment — especially if you’re new to pharma. So, before signing on, make sure they’re right for you.

Ideally, they should have a proven track record of success and be easy to reach. (Remember: You don’t want your consultant losing focus!) Trial projects are another great way of helping you decide if working with them long-term is worth it for your business.

Some companies offer trial projects for free or a small fee as an introduction; others will charge a non-refundable fee as an in lieu of deposit.

7) Start with a Short List, Then Research Further

The first step in finding an appropriate pharma regulatory consulting services company is deciding exactly what you need.

Read your customer’s job postings, talking with their current and past employees and even their customers (if possible). This will give you a list of companies with whom you want to speak.

Of course, when shopping for any service it’s a good idea to request references from people who have used them — the public sector can be quite tight-lipped about who they are doing business with so getting references may take some persistence — but it will also tell you which pharma regulatory consulting services companies are worth talking to further.

8) Get Multiple Opinions

You can’t always go with your gut when it comes to choosing a pharma regulatory consulting services company. You need objective, informed advice from someone who knows what they’re talking about.

Look for multiple perspectives — and lots of research — to help you make a decision you won’t regret. Don’t be afraid to look beyond recommendations and ask as many questions as you need in order to choose a firm that is right for your business, whether that means more hands-on work or less.

A consultation is a great way to get an overview of different companies’ practices and approaches so you can learn which one might be best for your situation.

9) Decide On Price and the Right Contract Terms

Don’t make your decision solely based on qualifications and credentials. Always ask around and try to get as much background information about potential candidates as possible, but ultimately you want someone who you can trust.

Hiring a bad service provider not only hurts your business but could potentially hurt your reputation. You want someone who listens, is honest with you and genuinely cares about your business goals, ideas and concerns.

Trusting your gut feeling is never wrong — if something seems fishy or overly qualified, it might be time to reconsider whether they are right for you or not.

10) Go With Your Gut Feeling!

Finding a pharma regulatory consulting services company is quite an overwhelming task. There are so many companies that offer these services, and you must choose one that best suits your needs.

However, with so many options available today, how do you pick out just one company? Follow your instincts! Take some time and ask yourself which firm feels right in terms of expertise, price and quality.

The goal here is to find a pharma regulatory consulting services company with whom you’re comfortable working long-term. Going with your gut feeling may be exactly what leads you to success!