New York, NY – May 19, 2011
Have you thought about how disclosure of “payments and all transfers of value” may impact your relationship with your customers, key opinion leaders, researchers and speakers? Do you have a strategy to respond to inquiries from HCPs in a consistent and compliant manner?
The transparency provisions of the Patient Protection and Affordable Care Act (Sunshine Act) is intended to shed light on the financial relationships between pharmaceutical and medical device manufacturers and Health Care Providers (HCP) and Health Care Organizations (HCO).
This act requires all manufacturers of a covered drug, device, biological or medical supply to report to the Federal Government all payments and “transfers of value” to HCPs. Once reported, all spend instances will be posted online for the world to see.
Based upon input and feedback from numerous pharmaceutical and medical device companies, MMIS, Inc. developed a uniquely simple solution – The MediSpend® Notification Center. This tool provides pharmaceutical and medical device companies a web-based direct access point to “pre-report” spend data directly to HCPs. More importantly, the MediSpend® Notification Center creates an efficient and compliant platform to communicate with HCPs who may have questions with regard to reportable transactions. The MediSpend® Notification Center is a ground-breaking SaaS platform designed to work seamlessly with MediSpend® or any proprietary or third party aggregate spend solution.
To be a good business partner, pharmaceutical and medical device companies should give all HCP “covered recipients” (customers, speakers, advisors, consultants, etc.) a chance to review what they will be reporting to the federal government. Over 63% of physicians recently surveyed expressed a desire to review reportable disclosures prior to submission by industry. By utilizing the MediSpend® Notification Center, pharmaceutical and medical device companies may – (1) share reportable transactions with HCPs prior to public disclosure thereby reducing the likelihood of errors; (2) maintain an efficient, compliant and auditable communication channel to resolve any questions; and (3) provide HCPs valuable education on your organization’s disclosure policies.
MMIS, Inc. is a global technology company that develops proprietary and secure communication solutions for many Fortune 500 companies. For over a decade, MMIS has deployed proprietary open collaboration technologies that enable its clients to drive greater productivity by managing and exchanging data, ideas, opinions, and intellectual capital in an ultra-secure environment.
Developed and marketed by MMIS, MediSpend® (medispend0.wpengine.com) is a secure hosted software-as-a-service (SaaS) solution, developed by attorneys with over a dozen years of experience in healthcare compliance. MediSpend enables pharmaceutical and medical device companies to track, aggregate and report all expenditures and transfers of value to health care providers in a manner consistent with State and Federal requirements.
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