Compliance Essentials: Data-Driven HCP Engagements
July 5, 2024
Stay informed with expert insights, trends, and best practices in life sciences compliance.
In the pharmaceutical industry, maintaining compliance with the laws and regulations is paramount. The Anti-kickback (AKS) Law prohibits the exchange of any form of remuneration to induce or reward referrals of federal healthcare program business. Violations can lead to severe penalties, including fines, imprisonment, and exclusion from federal healthcare programs. As such, pharmaceutical compliance professionals […]
Life Sciences companies face significant challenges ensuring accuracy and transparency in expense monitoring and auditing. To address these challenges, a few trends have emerged. Each time life sciences companies think they are on top of compliance requirements, rules and regulations change. This generally mounts pressure on compliance teams and drains the organizations of their time […]
Compliance monitoring is a critical aspect of the life sciences industry that enables companies to determine whether they’re efficiently and effectively adhering to relevant laws, regulations, and guidelines the government provides. With heightened scrutiny and expectations of the government, data-driven compliance monitoring has become imperative for safeguarding life sciences companies from business-critical risks. But there’s […]
The Physician Payments Sunshine Act aims to increase transparency around the financial relationships between healthcare professionals and Life Sciences companies. This requires the submission of aggregate spend reports to the Centers for Medicare & Medicaid Services (CMS). For the most part, the approach to meeting aggregate spend reporting requirements makes it easier or extremely difficult […]
Earlier this month, the U.S. Attorney’s Office for the District of Massachusetts announced a $100,000 FCA settlement. This settlement resolved allegations of a Pharmaceutical company violating the Anti-Kickback Statute (AKS). In addition, this also caused the submission of false claims through incentive compensation payments to the company’s employees for conduct outside the scope of an […]
Modernization is the key to achieving strategic compliance operations for life sciences and pharmaceutical companies. To pivot to a whole new level, organizations, and compliance professionals need to determine the importance of data-driven compliance solutions powered by emerging and conventional technologies. The primary reason for this modernization is the evolving nature of regulatory requirements that […]
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