The clock has started ticking with regards to the Sunshine Act, which mandates that device and pharmaceutical manufacturers begin tracking their financial relationships and transactions as of August 1, 2013. The Sunshine Act, which was published on February 1, 2013, requires the public disclosure of certain payments, ownership and investment interests, and other transfers of value or gifts delivered to physicians, teaching hospitals, or healthcare providers. The Act hopes to bring to light any conflicts of interest in the financial relationship between drug and device companies, and ultimately hopes to better protect patients' interests.

While many agree that the best way forward is through a third-party payment policy that clearly establishes the guidelines and conditions for carrying out a financial transaction, this requires an overhaul of an organization's payment recording systems. Complicating the process is an organization's lack of a unified approach to compliance, and their inability to track, collect, and manage the vast amount of payment data. To tackle these challenges, organizations need to adopt a sound payment tracking system - only then can they customize their processes to meet specific regulatory requirements, track violations, undertake remediation efforts, and accurately report to the Centers for Medicare & Medicaid Services (CMS).

Join Tina Fan, Director at Acquis Consulting, Joanna Sears, Principal at Acquis Consulting and Pramod Mopuru , Associate Director at MetricStream expert during this webinar to understand how organizations can best prepare for the Sunshine Act and its Final Rule which incorporates new provisions and limitations. Additional topics to be explored during this webinar include:

  • Common problems with regards to capturing accurate data
  • Reaction of Health Care Providers (HCPs) and public to published information
  • Scaling processes to adapt to international and global changes
  • Maintaining a fine balance between compliance and administrative liability
  • Adopting technology to reduce the burden of meeting deadlines

Attend this webinar:
This webinar is scheduled to take place on Thursday, September 5, 2013, at 8 am Pacific Time. To register and learn more about the webinar and the speakers, please click here.

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

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