MMIS launches MediSpend Federal solution for life sciences industry

Nov 6 2014

MMIS, creator of The MediSpend® Global Compliance Platform, the leading global compliance and transparency solution for the life sciences industry, today announced a new solution, MediSpend Federal to support small to mid-size companies in the life sciences industry. Manufacturers who have hundreds instead of thousands of annual spend transactions, want a robust, rules-based federal reporting system that will produce all required federal Open Payments (Sunshine Act) reports. MediSpend Federal brings an affordable, easy to implement SaaS platform that validates and verifies HCPs and HCOs upon data import and ensures accurate and timely reporting for small to mid-sized life sciences companies.

MediSpend Federal templates enable companies to upload data and instantly validate and verify healthcare providers and healthcare organizations using a compliance-grade database. With more than 5.4 million U.S. healthcare providers in the MediSpend Federal reference database, this SaaS solution provides report validation that flags errors and omissions prior to report generation. "This low cost reporting solution meets a currently underserved need in the market. Open Payments reporting is not going away and smaller firms need an automated, low-cost solution and a solid platform to meet the reporting requirements," stated Michaeline Daboul, CEO, of MMIS. "MediSpend Federal meets the needs of small to mid-size companies and delivers the same quality and performance that the industry has come to know and respect from MediSpend."

According to Tim Robinson, Chief Knowledge Officer at MMIS, "The move from manual submissions to automated processes is critical to address the many and continuous changes to the law which impact accuracy of reporting. Additionally, the labor inefficiencies and risks of errors or omissions that can result from tasking a range of staff to gather data and complete reports can be significantly reduced through automation."

Open Payments, (formerly known as The Sunshine Act) requires manufacturers of drugs, devices, biologicals, and medical supplies to submit annual reports to the Centers for Medicare and Medicaid Services (CMS) disclosing certain payments and transfers of value made to physicians and teaching hospitals.