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Master data on prescribers is combined with tracking expenditures, for transparency reporting
MMIS (Portsmouth, NH), which says that some 80 pharma and device companies currently use its MediSpend Compliance Cloud to provide reporting for global life sciences transparency initiatives, is now adding the Expense Manager from LexisNexis Risk Solutions, a hosted IT resource. Together, the systems will enable clients to meet the requirements of the US’ Physicians Sunshine Act, where “transfers of value” are made by life sciences companies to healthcare providers (HCPs), as well the evolving standards for transparency in Europe and elsewhere around the globe.
“We are pleased to have found an industry leader to carry the Expense Manager product forward with the expertise and commitment needed to serve a very challenging and evolving regulatory health care landscape,” said Jeff Klein, SVP and GM of LexisNexis Risk Solutions Health Care. “This partnership allows LexisNexis to expand its position in the Life Sciences market by expanding delivery of our industry-leading provider data assets, data services and validation services to MediSpend's client base.” In turn, MMIS will be offering LexisNexis’ master data on HCPs, and related data services, to current MediSpend clients, according to Michaeline Daboul, co-founder and CEO of MMIS. As part of the agreement, MMIS is joining the LexisNexis Health Care Alliance Program, offering LexisNexis Provider Data MasterFile and LexisNexis ProviderPoint data cleansing and integration services.
Open Payments and related transparency reporting depends on accurate master data lists of HCPs (and their affiliations), which turns out to be a challenging task for life sciences companies. HCPs change their demographic details (licenses, locations, business affiliations) at a rate of about 30% of HCPs per year, according to industry data. Tracking the expenditures by life sciences companies includes both sales reps’ activities, as well as sponsorship of clinical research, speaking engagements and related consulting work.