70% of Medical Companies Need Social Media Procedures

Author: Stacey Homan

In December, Deloitte reported that 65% of Life Sciences company professionals use or plan to use social networking.  While the top-line statistics garnered a lot of attention, the following paragraph caught my eye:

“Despite the potential risks that could be associated with online social networking, half (50 percent) of surveyed respondents who report they are responsible for managing risk related to online social networks, say their companies do not have a formal risk policy in place and 43 percent do not have procedures for managing adverse events [for social media].”