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Alliance Life Sciences Issues White Paper: “Federal and State Sunshine Act Compliance Readiness” Addresses Lack of Direction from CMS

Alliance Life Sciences Issues White Paper: “Federal and State Sunshine Act Compliance Readiness” Addresses Lack of Direction from CMS

SOMERSET, NJ – November 29, 2011 – Alliance Life Sciences Consulting Group (ALSCG), a leading management and technology consultancy, recommends proactive steps that drug, device, biological and medical supply companies should take to be fully compliant with applicable Sunshine Act provisions, despite a persistent lack of guidance from the Centers for Medicare & Medicaid Services (CMS). Co-authored by the ALSCG Aggregate Spend Practice, “Federal and State Sunshine Act Compliance Readiness” provides direction so that life science manufacturers can avoid substantial financial penalties and damage to reputation. The paper is available for download: http://www.alscg.com/company/events/cmswhitepaper

“Although it is doubtful that CMS will produce guidelines anytime soon, companies are still required to begin capturing data on January 1, 2012,” says Ed Masterson, senior vice president, consulting operations, ALSCG. “With the monetary penalties and potential for reputational harm via advocacy organizations and the media, it is necessary to address compliance in every facet of an organization.”

Noting that proactive compliance is more than simple data collection, ALSCG recommends companies evaluate Spend Governance, Policies and Procedures, and Training components. These steps enable businesses to mitigate risk and address regulatory requirements while increasing efficiencies and reducing cost. “With the lack of direction from CMS, the focus should be placed on internal systems
and processes,” concludes Masterson. “Adequate policies and procedures, as well as gathering, reporting and auditing capabilities are a must to ensure reliability of the program. Alliance remains committed to helping companies, overwhelmed by the changing healthcare landscape, establish a best practices approach.”

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

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