Collecting spend and reporting it to government entities is not new to the industry. Minnesota enacted the first pharmaceutical marketing law in 1993. What is new is the growing number of government agencies requiring disclosure and the number of incongruent policies and processes that need to be adhered to across eight different states. Add in the complexity of obeying federal mandates to comply with Physician Payments Sunshine provision, and your required Aggregate Spend Reporting solution becomes a significant operational challenge.
The industry has attempted to tackle these disclosures in a number of ways ranging from periodic, manual data gathering and clean-up exercises to aggregate spend point solutions. The shortfall of these solutions is they are either extremely time intensive or add another technology without delivering value from the data gathered.
With our deep industry process and technology expertise, we work with our clients to leverage existing assets and combine the core components to any Aggregate Spend Reporting & Optimization solution, namely customer master data management, business process management, and reporting and analytics.
This framework not only addresses the operational hurdles of disclosure reporting, but enables promotional spend rationalization. Our clients benefit by minimizing additional technology investments, driving proactive spend adjudication and optimization before spending a penny, and meeting regulatory disclosure requirements.