The U.S. is not alone in its concerns about HCP spend. For example, France has instituted its own version of the Sunshine Act, the Loi Bertrand, and the EFPIA, a European industry organization, has established a code of conduct for HCP relations.
The specifics of compliance vary with the regulatory entity, but the underlying requirement is for detailed record-keeping.
DATABASICS: Next-Gen Pharma Expense Reporting
With DATABASICS Expense, sales and marketing people can record individual HCP expenditures, assign the proper NPI, and extract associated HCP personal information
With DATABASICS Expense, sales and marketing people can record individual HCP expenditures, assign the proper NPI, and extract associated HCP personal information. To select the right NPI, DATABASICS uses an automated look-up function connected to a global NPI database. DATABASICS Expense even allows for allocating single expenditures over a group of attendees as the Sunshine Act requires. And DATABASICS, as a “Processor” of HCP personal information (as well as that of the report filer), is fully GDPR compliant.
In addition to mandating the reporting of transfers of value above a certain threshold, there is a secondary test for excluded transactions based upon total annual spend upon an HCP. Here DATABASICS also has the answer. DATABASICS Expense provides invaluable reporting tools for aggregating and analyzing spend, as well as exporting data to the exact specification of customers’ Sunshine Act auditors.
For regulatory compliance, change is one of the few constants. With DATABASICS Expense, organizations can be confident that their systems will be able to keep up. “DATABASICS’ solutions have always been about adaptability,” says Syriani. “The rules are always changing, so it is important to us to provide a solution that can quickly accommodate new requirements, and provide the additional data and functionality that our customers may need.”
Regulatory relief regarding HCP spending does not appear to be on the horizon. But it can feel like it with a solution like DATABASICS Expense.