The new reporting regulations imposed by the Patient Protection and Affordable Care Act beginning in 2012 have presented several challenges for pharmaceutical and medical device companies. Our compliance experts have explored each of these challenges and developed a comprehensive solution for aggregating, tracking, reporting and even notifying HCPs of your spend.
solution for Aggregate
Spend tracking and
MediSpend® Notification Center
A web-based direct access point for your HCPs to review and confirm spend information before it is reported
Common issues from collecting and reporting aggregate spend
Large Volumes of Data
In 2012, it is estimated that pharmaceutical and medical device companies will be required to aggregate and report more than 300,000 records.1 Because of this, manual aggregation and reporting is no longer feasible.
MediSpend® Our proprietary Data Integration Application can pull information from multiple systems to simplify aggregation for your tracking and reporting
1Based on publicly reported transactions from pharmaceutical and medical device companies subject to Corporate Integrity Agreements.
Poor Data Quality
Both internal and external sources provide information which needs to be accurately aggregated for reporting. Small errors and incomplete information can often make it difficult and very time-consuming to identify the correct covered recipient.
MediSpend® Customizable guided workflows minimize errors and simplify data entry/import
MediSpend® Notification Center Shares data with HCPs to allow them to verify accuracy
Wasted Legal Analysis
The complex situation of intersecting State and Federal reporting standards can make it diffullt for the spend administrator to report correctly. Determining how and what spend scenarios to report requires careful legal analysis.
MediSpend® Proprietary “Natures & Purposes” interface accurately translates real-world scenarios into jurisdiction-based reports
Strained HCP Relationships
Beginning in 2013 the Federal Government will be posting reported spend information on a public website. Making sure your reporting is 100% accurate is important when maintaining a strong relationship with your Health Care Providers.
MediSpend® Notification Center Pre-report and verify spend data with your valued HCPs to make sure there are no surprises