Compliance Essentials: Data-Driven HCP Engagements
July 5, 2024
Stay informed with expert insights, trends, and best practices in life sciences compliance.
According to a study by the Office of the Inspector General (OIG), from 2016 to 2020, 13% of all Anti-Kickback Statute (AKS) enforcement actions involved kickbacks to HCPs. This suggests that the problem of kickbacks is still prevalent in the life sciences industry. What is AKS? AKS is a federal law that prohibits the offering […]
Proactive life sciences companies leverage data analytics to analyze their compliance data, derive insights, and arrive at accurate conclusions instead of waiting for regulators, the media, or civil interest groups to look into their publicly available open payments data to find anomalies. According to a study, 70% of compliance professionals believe data analytics is essential […]
The False Claims Act, often referred to as the “Lincoln Law,” finds its roots in a critical period of American history – the Civil War – when President Abraham Lincoln proposed this pivotal legislation. Enacted as a federal law, the FCA holds individuals and entities accountable for deliberately submitting false or fraudulent claims for government […]
As a compliance professional, you may have pondered upon crucial questions that shape the compliance fabric of your organization, such as: Do the Key Opinion Leaders and researchers you pay also receive payments from other manufacturers? Do you have insight into the amount you spend on meals compared to your competitors? What’s the industry average […]
Adherence to laws, regulations, and guidelines is vital for ensuring life sciences companies’ safety, efficacy, and ethical conduct. Even though life sciences companies are determined to bring breakthrough innovations to the market, complying with all applicable laws and regulations seems to be an imperative that cannot be disregarded. With the rising complexity of compliance functions […]
Conflicts of interest in the complex and highly regulated life sciences industry represent a critical challenge. Professionals in this sector must navigate a delicate balance between personal interests and ethical responsibilities. To maintain transparency and uphold ethical standards, the Centers for Medicare & Medicaid Services (CMS) Open Payments database emerges as a vital tool. In […]
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