The impact of the Sunshine Act is being felt as pharmaceutical, biotechnology, and medical device companies invest millions of dollars to implement aggregate spend tracking systems. These systems are critical components in meeting Sunshine Act requirements.
The easy-to-use business intelligence (BI) software in our Physician Activity Network (PAN) segment of MedFuseTM allows interested parties to track and analyze payments to Thought Leaders (TLs) and allied HCPs for their contracted services. PAN provides transaction data on specialists, subspecialists, primary care physicians, mid-level providers, and allied health professionals.
The emergence of publicly available data through Corporate Integrity Agreements(CIAs) and the Physician Payments Sunshine Act (PPSA) has created a market definition that offers companies and institutions added strategic and tactical information for managing TLs and other HCPs.
PAN offers improved decision making for resource allocation, key opinion leader relationship management, budget development, and strategy refinement and analysis for both clinical and commercial contracted services.
Legal, regulatory, and institutional changes have also altered how TLs look at and do business with the industry. TLs themselves are beginning to push back against the increased scrutiny surrounding their industry relationships. The increased transparency is likely to cause TLs to more carefully gauge industry relationships increasing the need for transaction insight. These factors raise new challenges and questions for better planning.