Cardiff-by-the-Sea, CA – August 2, 2013 – The Sunshine Act, part of the Affordable Health Act (ACA), requires applicable manufacturers of healthcare products to begin data collection August 1, 2013. Life sciences companies facing the August 1 deadline need to ensure that they have appropriate technology and processes in place. Affected companies running QAD ERP are turning to Strategic Information Group (Strategic) for assistance with this latest compliance challenge.
Informally referred to as the Sunshine Act, “The National Physician Payment Transparency Program: Open Payments” addresses physician payment sunshine provisions on Section 6002 of the ACA. The intent of the Sunshine Act is to bring potential conflicts of interest to light with the goal of driving down healthcare costs.
Under these provisions, applicable manufacturers of drugs, devices, biologicals, or medical supplies covered by Medicare, Medicaid or the Children’s Health Insurance Program (CHIP) are required to log and report annually to the Centers for Medicare & Medicaid Services (CMS) certain payments or transfers of value provided to physicians or teaching hospitals (covered recipients). In addition, applicable manufacturers and applicable group purchasing organizations (GPOs) are required to log and report annually certain physician ownership or investment interests.
Applicable manufacturers are required to submit their first federal reports by March 31, 2014. Most reported information will be published by CMS on a searchable public website beginning September 30, 2014, increasing pressure to comply.
“Complying with these national disclosure requirements is a huge undertaking. Collecting the data and preparing to submit the reports is a painful process for many companies,” says Doug Novak, President and CEO, Strategic. “We have proactively brought a solution for our QAD customers to deal with this requirement.”
To help QAD users ensure compliance with data collection and reporting requirements in the Sunshine Act, Strategic has designed a “Sunshine Act Compliance Module”. The application supports the specific data collection and reporting requirements mandated in the final rule. Just as important, the module can be implemented very quickly to allow applicable manufacturers to comply with data collection requirements in as little as two weeks.
“Because Strategic serves such a broad range of life sciences manufacturers, we have to be very well versed in the various compliance mandates these companies are required to meet,” says Novak. “Strategic is assisting customers to successfully meet the new ACA compliance requirements required under the Sunshine Act as well.”
To learn more about the Sunshine Act Compliance Module for QAD, visit: http://www.strategic.com/sunshine
About Strategic Information Group
Strategic helps companies achieve their corporate goals with the application of enterprise technology. We specialize in providing proven solutions for a full range of enterprise applications including ERP, CRM, Regulatory Management and Corporate Performance. Strategic works with start-ups, multinationals and market leaders to implement their systems on time and on budget, helping them maximize the value of their enterprise technology. For more information, call 760-697-1050 or visit http://www.strategic.com