The MediSpend Team returned after spending a successful week at CBI’s 8th Annual Global Transparency Congress in London on April 11 to 12, 2018. Our CEO and Co-Founder Michaeline Daboul hosted an interactive panel discussion Forward-Looking Strategy – One-month Countdown to GDPR with compliance leaders from Novo Nordisk and Medtronic.
The panelists shared their journey and readiness to meet the GDPR enforcement date that is quickly approaching on May 25, 2018. They shared perspectives on how both pharmaceutical and medical device companies are preparing to comply with data privacy regulations and the way companies are responding to these transformational changes.
Although the data privacy journey at Novo Nordisk was different than that of Medtronic, organizationally both companies are meeting the challenges technically and through change management processes. Both companies have top-down support to make the necessary technical and operational changes. From R&D to the commercial departments, both companies are working with physicians and HCPs to communicate how individual’s personal data will be collected and stored. The question-and-answer session was particularly interesting because the audience compared notes on its journeys and the readiness of its own organizations.
The conference was well attended and covered a breadth of topics including Frameworks for Management of Healthcare Professional Engagement, Global Transparency Requirements, Consent Management and the use of Data Analytics for Compliance Monitoring.
The discussion and the exchange of ideas at the conference was fascinating to watch given varying viewpoints. However, everyone seemed to be aligned that the coming year would be interesting, a result of GDPR getting enacted across the 28 member countries within the European Union. Overall, the European compliance executives seemed confident in their companies’ ability to comply with GDPR.
While there, the news of Facebook CEO Mark Zuckerberg’s congressional hearings provided fodder for discussion during coffee breaks. “Will the United States finally treat data privacy seriously?” asked a senior compliance officer from Europe. “Will the U.S. do a one-up on GDPR, given it was the beacon of hope during the promulgation of the anti-bribery and anti-corruption laws?” While Mr. Zuckerberg’s staff has a pile of homework in response to the questions asked of him at the congressional hearings, the buzz on social media is a request for more transparency on how personally identifiable information is stored and shared in the U.S. People in the U.S. seem to want more control of their personal information. As of this writing, Facebook is paving the way to voluntarily accepting GDPR as part of its data privacy policies. Time will tell.