Modernize Your
CMS Open Payments Reporting Program
Leverage AI to Comply with CMS Reporting Requirements, Detect Risks Before CMS Submission and Simplify Spend Reporting
Our Team
Jim Dawson (SME)
30 years-experience, established and led compliance programs as compliance officer.Thought leader within the compliance space.
Mohammad Ovais (Entrepreneur)
23 years of experience of implementing technology for clients across North America.Known speaker at compliance conferences and webinars.
Salman Kasbati (Orchestrator)
22 years of experience providing software solutions. Served oil & gas, life sciences, financial institutions across the US and EMEA.Known for planning and execution.
Why qordata?
Since 2009, qordata has been serving the life sciences industry with our data-driven compliance solutions, with the sole purpose of serving humanity through meaningful technology solutions.
We have worked with 55+ life sciences clients with an industry-beating NPS of over 70%.
Our passion is to achieve our vision of compliance teams leveraging technology and data to operate with increased effectiveness and efficiency in running their compliance programs.
We empower the compliance teams with leading-edge data-driven solutions, blended with our in-house compliance expertise of 100 plus professionals across 4 different time zones.
Penalties And Reputational Risks Await
Failure to report complete and accurate CMS data on time can result in Penalties and Fines of up to $1.1M
Conventional CMS Open Payments Reporting
Compliance officers struggle with limited resources & budget constraints.
Disconnected systems hinder data access and analysis, creating complexity.
Poor visibility into Open Payments Data compromises spend accuracy.
High risk of inaccurate data submission raises board scrutiny and penalties.
Incomplete data jeopardizes CMS Audit Readiness.
Data-Driven CMS Open Payments Reporting
Leveraging AI and automation expedites Open Payment Report preparation.
Integration with various data sources enhances data access and quality.
Complete data visibility aids in distinguishing reportable transactions and detecting anomalies.
AI verification ensures accurate HCP/HCO identification and transaction validation.
Efficiently manage CMS Data for Audit Readiness.
Establish a clear understanding of the CMS reporting requirements
- Conduct an in-depth analysis of the current federal and state regulations impacting transparency reporting
- Collaborate with legal and compliance teams to ensure a comprehensive grasp of CMS reporting obligations
- Create a detailed documentation matrix outlining specific reporting elements, timelines, and submission criteria
Plan and strategize your CMS Open Payments Reporting Process
- Develop an open payments reporting plan with key tasks, timelines, resources, and responsible stakeholders
- Align the reporting strategy with the business objectives and technologies to augment open payments reporting
- Considering short and long-term business goals, plan to address potential challenges through contingencies in the reporting process
Implement a robust data collection process and quality controls
- Integrate technologies such as AI and automation to streamline data collection from various data sources such as Concur, Veeva, NPPES, VPL & NPPL
- Establish data quality controls, including validation checks and error resolution protocols
- Implement secure data encryption and access controls to maintain confidentiality and data integrity
Utilize AI and data analytics to gain insights and identify and remediate inaccuracies/incompleteness
- Leverage AI-powered data-driven reporting solution to conduct an in-depth analysis of spending patterns and trends in your open payments data
- Implement anomaly detection mechanisms driven by AI to identify and flag irregularities in your data and minimize compliance risks
- Generate reports that highlight key findings and actionable insights using AI and data analytics
Conduct internal audits and continuously improve the program
- Schedule regular internal audits, involving cross-functional teams (such as legal, IT, and compliance), to assess data accuracy, completeness, and adherence to reporting guidelines
- Implement corrective actions to prevent the risk of non-compliance
- Continuously update the internal audit process to align with evolving CMS reporting requirements
- Explore technologies and industry best practices to enhance the efficiency and effectiveness of the reporting program
Ensure Accurate, Complete, and Timely CMS Open Payments Reporting
CMS Open Payments Reporting Solution
We help life sciences companies overcome increasing regulatory and board scrutiny through our AI-powered data-driven CMS Open Payments Reporting solution that brings visibility to your data at all times and assures accurate, complete, and timely reporting as per US Federal and State requirements.
Transparency Reporting for
Global Medical Device Company - Case Study
- Enabled the organization to detect and remediate risks associated with open payments reports effectively ensuring swift and accurate CMS open payments reporting.
- Connected siloed data sets, streamlining the collection, analysis, and validation of open payments data and significantly augmenting the organization's transparency reporting program and ensuring accurate and timely submission to the CMS.
- Enabled compliance team to analyze, validate, and prepare open payment reports and ensure timely submission to the CMS.
- Provided comprehensive analytics identifying anomalies and errors, distinguishing between reportable and non-reportable transactions.
Our Team Is On A Mission To Help You!
If you want to modernize your CMS Open Payments Reporting Program – let’s jump on a strategy call.
The catch is, that we may demonstrate how our CMS Open Payments Reporting solution can accelerate your strategy.
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