Putting outlook towards pre-CMS submission analytics to the test, qordata conducted a poll during its webinar earlier this month. The question was: “How important are analytics for reviewing spend prior to submission?” The results were unsurprising: 63% of participants believed using analytics prior to CMS submission was “Very Important,” with another 31% saying it was […]
The landscape for Pharmaceutical Drug and Device Manufacturers in North America is changing, especially after the ratification of the Sunshine Payments Act. There’s more publicly available data for everyone—over 25 million records and counting—and much more public accountability accompanying it. Instead of waiting for competitors, the media, Public Prosecutors, or Civil Interest Groups to arrive at […]
There comes a point in life where one comes under the umbrella of rules and regulations. At times, these regulations don’t seem to add much benefit and, in a way, restrict activity, unless an individual or an organization is ready to harness this change into something beneficial. The pharmaceutical industry is on the verge of […]
Zurich, Switzerland: Mohammad Ovais, CEO and Founder of qordata, was one of the keynote speakers at the 5th Annual Corporate Compliance & Transparency Conference in the Pharmaceutical Industry.
Life Sciences companies are required by both the U.S. and global transparency requirements – a task that is not just complex, but ever-changing too. These requirements include the Sunshine Act, U.S. state laws and European laws, all of which deem it necessary for transfers of value made by pharma companies to physicians to be tracked and reported to the authorities.
Considering that each country in Europe has its own interpretation of the law, data collection is very difficult. The process becomes even more complicated when HCPs want to revoke consent. The manual means of keeping track of consent only places burden on manufacturers in terms of time and cost. This is where the need for a real time data base solution comes in.
The Department of Justice announced on February 3, 2017 that penalties for the False Claims Act (FCA) will be increasing once again, effective immediately. The minimum per-claim penalty will increase from $10, 781 to $10,957 as a pursuant to the 2015 budget bill that calls for annual re-indexing of FCA penalties for inflation.
The Open Payments System is now available for applicable manufacturers and applicable group purchasing organizations (GPOs) to register, recertify their registrations from the previous years, spend their 2016 spend reports and submit corrected data from previous program years (if needed).
The dialogue supporting Data Mining of sources such as CMS, Company’s commercial data, EU compliance data, clinical data, Medicaid, Medicare Part B and Part C strongly implies that a robust risk-focused future lies ahead for Compliance Professionals. How prepared are they in responding to such a future may be measured by their vision of data based alerts and triggers, and the structures they can access today.