BRIDGEWATER, NJ – Aug. 24, 2011 – Alliance Life Sciences Consulting Group (ALSCG), a leading management and technology consultancy, today announces the delivery of an Aggregate Spend Discovery & Systems Readiness Assessment for a growing U.S. specialty pharmaceutical company. The methodology outlines successful Aggregate Spend Reporting in compliance with the Physician Payments Sunshine Act. Download at: http://www.alscg.com/company/downloadcenter
“This speciality pharmaceutical company, like many others, was managing its Aggregate Spend Reporting through manual data collection and the curtailment of spending in reportable states – an unsustainable approach on a national scale,” says Ed Masterson, senior vice president, Consulting Operations, ALSCG.
By leveraging ALSCG’s proven Aggregate Spend Assessment Tools and Methodology, a thorough Spend Discovery was conducted and gaps were indentified in the company’s capture of reportable recipient and spend attributes, both internally and by third party vendors. These gaps necessitate mitigation for Sunshine Act compliance, which requires accurate data capture starting January 1, 2012.
A multi-phased assessment approach beginning with a comprehensive discovery exercise conducted through cross-functional stakeholder interviews and direct interaction with the client’s current and future source systems and accounting processes, allowed ALSCG experts to identify and track the flow of reportable spend from business and scientific operating units to the end recipient. This included a pass-through spend through third party vendors and CROs.
“The results present business, scientific, and compliance stakeholders with visibility into all areas of the reportable spend, while identifying gaps in spends data capture and aggregation by source systems as well as third party vendors,” concludes Masterson. “ALSCG provided the client with strategic information management and program governance solutions for achieving a value-added, cost-effective, and compliant end state.”
Formed in 1994 and headquartered in Bridgewater, N.J., Alliance Life Sciences Consulting Group employs more than 150 professionals who collectively understand the business challenges of the Life Sciences industry and offer solutions for Sales & Marketing, Managed Care & Government Contracting, Commercial Operations, Information Management and Analytics. ALSCG has experience with seven of the top 10 largest pharmaceutical manufacturers as well as middle market and emerging Life Sciences firms. Contact: 866-581-4850 www.alscg.com.