March 31, 2020 is quickly approaching which means many pharmaceutical and medical device companies are feeling the pressure of the looming CMS Open Payments reporting deadline. Whether your organization is filing for the first time, struggling with an outdated reporting system or using too many valuable internal resources to get the job done – you are not alone. Many companies are trying to find ways to streamline the reporting process and file accurately and on-time.
This struggle is compounded by the fact that CMS Open Payments is not the only reporting deadline your organization needs to worry about. Transparency reporting laws have been implemented in over 50 countries worldwide and this expansion shows no sign of slowing down. These various international countries and regulating bodies mean companies without a compliance technology solution must track different reporting deadlines and requirements throughout the year using their own internal resources.
MediSpend’s Transparency Reporting Solution (TRS) streamlines compliance with both U.S. federal and state laws as well as international transparency reporting requirements. Developed by a team of compliance attorneys, IT experts and analysts, our cloud-based system helps set you up for successful submission. Our Client Services team ensures you have the knowledge and assistance you need to report in all required jurisdictions. Every MediSpend client has successfully reported on time in every jurisdiction for the last 5 years.
If you are struggling to prepare for the CMS Open Payments reporting deadline and dreading the further expansion of U.S. state and international reporting requirements, consider using a compliance technology solution to help ease the burden of reporting and contact MediSpend.