How to Run Successful (and Compliant) Virtual Advisory Boards

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How to Run Successful (and Compliant) Virtual Advisory Boards

We’re living in a digital age that’s not going away. Follow this advice for running successful and compliant virtual advisory boards.

Keyword(s): virtual advisory boards

In a recent study, 60% of pharmaceutical companies polled said they had set contracts with specific advisory boards. Yet, with new physical distancing measures, hosting these advisory board meetings may seem impossible.

That’s why you need virtual advisory boards. Virtual advisory boards keep your board members and clients in the loop without the need for physical closeness.

Sound good? We think so too, which is why we designed our FISH virtual meetings platform and our meeting management services to go along with it.

Ready to learn how virtual advisory boards can benefit you and how to pull off your first meeting? Then you better keep reading because this one’s for you.

What Are the Benefits of Virtual Advisory Boards?

Before we talk about running a successful and compliant advisory board meeting, you may be wondering: why are virtual advisory boards better? Here are the top four reasons medical industry advisors choose to go virtual.

Save Time and Money

Traveling takes time and costs money. Exchanging in-person advisory board meetings with virtual ones can slash these costs once and for all.

Host More Frequent Meetings

Because virtual advisory boards are, well, virtual, your team won’t have to stress about making meetings each quarter. Advisors will be able to participate more easily. That way, your team gets the latest, most actionable advice.

Hosting frequent virtual meetings also improves networking and connections amongst the board and the research team. This allows for seamless communication, which helps advisors provide relevant guidance for more efficient project results.

Protect Advisors’ and Clients’ Health

Advisors need to stay in touch with their clients during these trying times but from a distance. Virtual meetings allow for close contact without any of the risks that come with in-person events.

Do Good for the Environment

Virtual advisory boards are also good for the environment. Your board members generate 104 kilograms of carbon dioxide per 300 miles in a car and 184 kilograms per for the same trip in a plane!

Imagine the carbon emissions your board members alone can cut down on by going virtual and removing the need for flights and long drives.

Pulling Off Your Virtual Advisory Board Meetings

In a study of pharma advisory boards, researchers found that the average advisory board takes four months to plan. Of course, the larger the board and the content needing to be discussed, the more time you’ll want to prepare.

Keep reading for the five boxes you need to tick for successful and compliant virtual advisory boards.

Choose the Right Technology Platform

These days, there are a ton of virtual meeting platforms out there. Yet, not all of them are created equal.

You may think you’re getting the best deal with your current provider, but FISH is the only virtual meeting platform that can provide everything you’re looking for.

FISH is cloud-based and device agnostic, meaning you can connect to your meeting from any device no matter where you are. We also have the only live streaming platform around. It offers incomparable connections, is buffer-free, and always provides the highest-quality audio.

Best of all, our flat-rate pricing means FISH can grow as your meeting needs do. Whether you need to meet with a team of five or five hundred, FISH has the capabilities to expand with you.

Identify Compliance Risks From the Beginning

During your virtual advisory board meeting planning phase, you should identify all compliance risks.

Whether your board serves the pharma industry, biotech industry, or the medical device industry, you’ll have to deal with national and/or regional healthcare codes of practice. That means you’ve got to choose a meeting platform with secure access.

FISH can do that and more because it’s WCAG 2.0 AA compliant and accessible. Our platform is TLS-certified, too. That means the server is securely encrypted to keep hackers and other bad actors out of your meeting.

Put the Right Support Team in Place

We all know it happens. You’re in the middle of an important meeting, and the service goes out.

With FISH, you won’t have to wait for your connection to come back up. We provide dedicated producers and support teams to help manage your meeting. That way, your virtual advisory boards will always go off without a hitch.

Produce Engaging Content

Content is key to your virtual advisory board meeting. Before the meeting ever begins, you should know exactly what you need to share with the board and what you need them to learn. Part of this is understanding how you’ll share that content.

At Frictionless, we don’t just provide the platform you need to host your virtual meetings. We also have the content solutions that are vital to successfully achieving your board meeting goals.

FISH optimizes file sharing with additional video and screen sharing capabilities. Our interactive whiteboard allows you and fellow advisors to create collaborative content for ultimate understanding. Plus, attendees will stay engaged with our polling and emoji functions, even if the meeting lasts hours.

Automate Scheduling for Ultimate Convenience

Without the proper scheduling and reminders, meeting times may get lost in the shuffle.

That’s why it’s so important to choose a meeting platform that does more than host your meeting and help with content. You need a platform that assists with scheduling, too.

FISH does exactly that. Whether you want to create a meeting ID or send out a URL link, our virtual advisory board meeting software allows you to customize your meeting invites. Send invites seamlessly via email and schedule reminders for the weeks and days before the meeting.

Make Your Web Meetings Easier With Frictionless Solutions

When your advisory board goes virtual, you can harness benefits like more frequent meetings and slashed travel costs. Yet, you need to choose the right technology platform with the best features to ensure your virtual advisory boards run smoothly.

Are you searching for the ultimate virtual meeting hosting platform? You’ve found it with Frictionless. Learn more about our virtual meetings platform to find out if FISH is right for your board!