MediSpend® Solutions

Global Transparency Challenges: Collecting and Reporting Aggregate Spend Data

The new Open Payments (Physician Payments Sunshine Act) reporting regulations are now in effect and have presented several challenges for the life science industry. Our compliance experts have explored each of these challenges and developed the MediSpend Global Compliance Platform, a comprehensive solution for aggregating, tracking, reporting and analyzing the payments and transfers of value your company makes to physicians and teaching hospitals.

MediSpend®
A comprehensive
software-as-a-service
solution for Aggregate
Spend tracking and
reporting
MediSpend® Notification Center
A web-based direct access point for your HCPs to review and confirm spend data before it is reported
Common issues from collecting and reporting aggregate spend
Issue #1

Large Volumes of Data

In 2013, 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.
The Solution:
MediSpend® Our proprietary Data Integration Application and ETL layer can pull information from multiple systems to simplify aggregation with your enterprise
1Based on publicly reported transactions from pharmaceutical and medical device companies subject to Corporate Integrity Agreements.
Issue #2

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.
The Solution:
MediSpend® Customizable guided workflows minimize errors and simplify data entry/import
MediSpend® Notification Center Shares data with HCPs to allow them to verify accuracy
Issue #3

Wasted Legal Analysis

The complex situation of intersecting State and Federal reporting standards can make it difficult for the spend administrator to report correctly. Determining how and what spend scenarios to report requires careful legal analysis.
The Solution:
MediSpend® Proprietary “Natures & Purposes” interface accurately translates real-world scenarios into jurisdiction-based reports
Issue #4

Strained HCP Relationships

Beginning in 2014 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.
The Solution:
MediSpend® Notification Center Pre-report and verify spend data with your valued HCPs to make sure there are no surprises