Life Science Topics - Sunshine Act

While the healthcare industry has always been highly regulated, recent developments mandate that transparency and compliance monitoring are not afterthoughts for manufacturers, healthcare organizations and healthcare professionals (HCPs). The number of regulations continue to grow, and the penalties for violations become significantly larger given the availability of large volumes of spend and prescription data in [...]

The Massachusetts Department of Public Health requires pharmaceutical and medical device manufacturers to disclose certain transactions with anyone who prescribes, dispenses, or purchases prescription drugs or medical devices in the Commonwealth. This includes any fee, payment, subsidy, or other economic benefit with a value of at least $50. Massachusetts revised its reporting template and updated [...]

The fundamentals of good compliance require the ability for compliance professionals to intercede, either prospectively or retrospectively, at key control points. Whether these are activity, contract, payment or document controls, an inability to apply these controls reflects an inability for the compliance professional to manage enterprise risk. Historically, many business processes have evolved from manual, [...]

Whether you’ve just completed your first submission to Centers for Medicare & Medicaid Services (CMS), or you’ve had a transparency reporting program in place for years, it pays to take a look at your process to identify opportunities to increase efficiency and reduce risk. Think back to the most recent reporting period and ask your [...]

Meeting US federal, US state and international transparency reporting requirements requires a substantial amount of time and resources from you and your team. Regulations have grown increasingly more complicated and will continue to expand as more jurisdictions introduce new laws and expansions to current rules. Creating an efficient, time-saving process for transparency reporting is a [...]

In-House Costs for Existing Systems For an existing in-house system, calculate the total cost of ownership for: Researching current regulations and making system updates Pulling transaction data from multiple sources Preparing transaction data for import into the reporting system Validating HCP information Remediating conflicting data from multiple data sources Generating reports to meet complex federal, [...]

On April 7th, MediSpend hosted the webinar What Does the CCPA Mean for Life Sciences Companies, where we provided an overview of the California Consumer Privacy Act (CCPA) requirements based on the most recent guidance. We also discussed many of the complicated intricacies of establishing CCPA controls impacting life science organizations today. Some of the [...]

You know you need to modernize and improve your transparency reporting program. But how? In a recent assessment of aggregate-spend tracking and transparency reporting technologies in the life sciences industry, Gartner shared, “We do not recommend building an internal solution.” Instead, they suggest partnering with solution providers who have purpose-built and mature technology supported by [...]

Are you a small pharmaceutical or medical device company with limited resources worried about implementing a software solution like MediSpend? Are you a larger organization concerned with already overbooked IT resources or a global organization worried about meeting different business requirements from compliance stakeholders around the globe? No worries! MediSpend has a team of seasoned [...]

If you have not considered an integrated HCP engagement and transparency reporting solution, you should. Here’s why: Hand in hand with developing new treatments and cures, life sciences companies play an important role in educating healthcare practitioners (HCPs) and patients about those drugs and devices. Partnerships between HCPs and healthcare organizations (HCOs) are critical and [...]