Aggregate Spend Reporting
Aggregate Spend and Sunshine Act reporting requirements have forced life
science companies to create a patchwork of programs to deal with the reporting requirements
and feed data to vendors of spend reporting solutions. Even when selecting a fully
functional Aggregate Spend reporting solution, there are still a lot of responsibilities
and deliverables assigned to the organization to meet compliance regulations.
Some of the Aggregate Spend Reporting and implementation challenges include:
- Existing source systems of the spend data were not designed or developed to handle
this detailed reporting at the accuracy level required.
- The regulations, data sources, interfaces, data mapping, HCP validation and reporting
requirements are difficult to bring together.
- Compliance and IT departments in most small to mid-sized pharma companies are not
adequately sized to deal with these complexities and deliverables in the timelines
- On-going changes to regulations, source systems, business processes and HCP location
information exponentially increases the challenge.