MediSpend recently introduced its Legislative Watch service on medispend.com, which allows people have a global overview of the applicable laws and regulations regarding transparency for the life sciences industry. Furthermore, it will provide updates of relevant laws and regulations related to transparency.
We are covering local, federal, and global laws and regulations to keep our technology up-to-date and our clients well aware of what is expected of them. Our content includes broad summaries and more detailed bits of information related to many jurisdictions around the world. The hope is that clients can use this information to continuously improve upon their compliance strategy.
This service is a culmination of years of work collecting and monitoring all the legislation that affects our customers. We include transparency reporting but we will also include information on healthcare compliance and interactions with healthcare professionals. Our goal in creating the Legislative Watch was to give guidelines to clients that inform their broader compliance plan.
When creating this tool, we truly had customers top of mind. We tried to translate the information and make it palatable. Our priority was to make this tool practical and functional.
At the moment, the tool is focused on transparency reporting. However, we’re continuing to build out the database. You can expect to see additional information on different jurisdictions, legislation, codes of conduct, and other relevant areas in the future.
Of course, the applicability of the available updates depends on your individual circumstance. What we advise clients to do is consider the information in the Legislative Watch and then check with their legal teams in local jurisdictions.
Also, due dates mentioned in the summarized material refer to the time when transfers of value must be published. Therefore, the deadline for submission could be earlier, e.g. as a way to give healthcare professionals or industry associations the possibility to check data. For example, the United Kingdom’s Association of the British Pharmaceutical Industry (ABPI) requires submission in March but the data is published in June.
Summaries on the Legislative Watch page provide the big picture about legislation. They include the types of organizations – pharmaceutical, medical device, or both – obligated to report data. In addition, you will learn about the submission process, and disclosure dates. Furthermore, relevant links are included to laws, rules, authorities, and/or websites of industry associations. When necessary, we highlight additional information.
Overwhelmingly, the goal of this service is to help you stay on top of the latest laws, so your compliance strategy remains on target. We believe people who use this content effectively will find it helps them become more efficient. After all, the most important information is consolidated. And using this website content requires no other subscription, so it’s budget friendly, too.
If we are not covering jurisdictions relevant to your business in Legislative Watch, please don’t hesitate to contact us. Also, we can answer questions you may have about the content we are covering.
As part of the MediSpend subscription, customers also have the opportunity to participate in webinars and receive relevant updates. They have access to meetings with our compliance or product teams. Our team of compliance attorneys is available to share information on the Legislative Watch page, provide one-on-one consultation, or offer additional training. Furthermore, we will listen to customers when shaping our product road map.
With the launch of Legislative Watch, we are forging a deeper bond with our clients and demonstrating our commitment to keeping them abreast the most important news in life sciences compliance. Together, we can develop compliance plans that are a good fit for your unique organization.