Listen to Fairmark discuss FMV methodology

Why We Do Not Benchmark (2 minutes)

How We Develop FMV Rates (2 minutes)

Global FMV Coverage and Fee Calculator

FairRate™ is a global database of HCP Fair Market Value (FMV) rates, providing comprehensive coverage across healthcare professional specialties and geographies. It includes FMV rates for over 200 physician and healthcare professional specialties across major global markets, with data designed to support consistent application across engagement types and regions.

For each specialty within a country, FairRate™ provides hourly FMV rate ranges across three tiers of expertise, fee schedules for common HCP engagement activities, and FMV data in local currency.

Coverage spans five global regions: the United States, Europe, Asia Pacific, the Americas, and the Middle East & Africa.

The FairRate™ calculator supports activity-level FMV calculations, including adjustments for travel time scenarios and other common engagement variables, enabling consistent and practical application in real-world settings.

Our FMV Methodology

Fairmark derives FMV rates from compensation data for full-time physicians and healthcare professionals in clinical and academic settings. While salary data is not equivalent to FMV rates for speaker and consulting services, it is the nearest, deepest, and most independent set of market data available.

We convert this employment market data to hourly FMV rates for speaker and consulting services, tiered by expertise level, using a proprietary set of conversion calculations.

FairRate™ does not rely on industry payment data from speaker and consultant arrangements. The transactions that generate industry benchmarking data are not arm’s-length, and must be viewed with caution. Moreover, we recognize that there are structural reasons for overpayment to persist when it does occur. For both these reasons we believe defensible FMV rates must exclude industry benchmarks.

These views are discussed in more detail in our articles on why overpayment can persist and why benchmarking is not apporpriate for FMV determination.