Pharmaceutical, biotech, and medical device manufacturers face a myriad of requirements to disclose spending on healthcare providers and organizations.  Complying with varying state requirements presents considerable and costly challenges that require not only proper interpretation of legislation, but the execution of sound systems and processes.  Even more significant requirements are likely to arise with the expected passage of the Physician Payment Sunshine Act, which contains rigorous monitoring and reporting obligations to Department of Health and Human Services. 

Organizations need to implement proper policies, procedures and systems to track aggregate spend across many areas of the company, including sales, marketing, R&D, clinical, and other segments.  Aggregating data requires the integration of multiple internal, disparate systems along with external and third party sources. At Mindlance, we focus on building robust and scalable solutions based on your unique requirements and policies.  We understand the need for uniform and reliable systems that not only efficiently and accurately help you comply with regulations, but also allow for growth and change resulting from mergers and acquisitions.

While failure to comply with regulations could trigger legal and financial penalties, compliance efforts should be driven beyond government mandated reporting.  Merging progressive technology and systems with proper procedures can create true business intelligence and elevate management decision making.